El Registry of Movable Guarantees organized a regional seminar in which the subject of Intellectual Property as Security Interest was addressed.
Our specialist in Intellectual Property and New Technologies, Diana Pleites, attended the seminar and shared 7 main ideas about the importance of Intellectual Property as Security Interest:
- The security interest It is the real right constituted by a guarantor debtor and in favor of a creditor, to guarantee the fulfillment of one or several obligations of his or a third party.
- This right is preferential with respect to the secured creditor, for the possession and execution of the movable property given as security, without prejudice to the privileged credits provided for in the Constitution, the regulations that regulate them were approved in 2013 and had the novelty of contemplating rights of intellectual property as collateral guarantee of a credit operation.
- In 2014, the Registry of Movable Guarantees whose purpose is the registration of the constitution, modification, extension, extinction and execution of movable guarantees and consequently, the publicity of the same. This is public, electronic, automatic registration, equipped with security mechanisms that guarantee and safeguard the registered rights, and the information contained.
- In order to guarantee present and future obligations, it may be possible, in accordance with the law, to establish movable guarantees on: a) Tangible assets; b) Intangible assets; c) Rights over future assets that the secured debtor acquires after the constitution of the security interest; d) Consumable goods; and) Intellectual Property Rights; f) Money deposit accounts and investment accounts or similar; g) Isolated elements of the commercial company; h) Shares and participations representing the capital of commercial companies; i) In general, any other asset, right, contract or action to which the parties attribute economic value, are susceptible to alienation and their encumbrance is not prohibited by law.
- The Intellectual Property rights that can be given as security interest are, for example: industrial and commercial secrets, copyrights (economic law), trademarks, patents, industrial designs, trade names, plant varieties, among others. This reaffirms the importance of intellectual property protection, especially in the technological world, since it can help companies grow and continue developing technology or lines of business, that is, to expand.
- The problem of the valuation of Intellectual Property assets must be considered in this area. For this, the Intellectual Property assets that can be submitted for a longer term must be considered, we must remember that Intellectual Property has term variables, the profits obtained by its owner, inflation, and risk factors of the owner or external; the future flows that this Intellectual Property may represent in consideration of technological changes
- The advantages of the Secured Transactions system: it is a tool for access to credit, in the present case for the use of intellectual property that its value is not only reflected as an asset in the balance sheets but also allows it to be a source of financing; Provides secured creditors with greater legal certainty, allowing efficient identification of the assets granted as collateral and priority among creditors; It contributes to the transparency of transactions and speeds up the registration procedure, as it is digital, reducing time and costs.
For more information on the subject, contact us at: elsalvador@latinalliance.co