A patent and trademark collateral assignment is an official document drafted between an organization referred to as the assignor and another organization or an individual referred to as an agent. In the agreement the assignor grants security interest that are first in priority in all of its assets to the agents for benefit of the organization and also for the benefit of the lenders. This is also done in order to secure the payment of all the amounts owed by the assignor under a certain loan agreement.
The assignor has to agree to the following details in the agreement:
- Incorporation of all the terms and provisions of the loan agreement
- They have to assign patents, licenses, trademarks and technical information in order to secure the satisfaction of secured obligations
- They will have to agree to restrictions on future assignments
- They should let the agent use each patent and patent license
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