Effect of registering security at IP registries on priority of security interests
Effect of registering security at IP registries on priority of security interests

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Effect of registering security at IP registries on priority of security interests
  • Proposed reform
  • Why is it important to determine priority between competing security interests?
  • What are asset registers?
  • Patents—registration on the UK Register of Patents
  • Registration on the UK Register of Patents—effect on priorities
  • Trade marks—registration on the UK Register of Trade Marks
  • Registration on the UK Register of Trade Marks—effect on priorities
  • Designs—registration on the UK Register of Designs
  • Registration on the UK Register of Designs—effect on priorities
  • more

BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). Whilst the information contained in this Practice Note is not directly affected (as it only covers taking security over intellectual property rights in England & Wales), for information on the legal implications for EU intellectual property rights and registrations, see Practice Note: Brexit—impact on finance transactions — General issues—security and guarantees.

Registration can have an important effect on the priority of competing security interests.

Broadly speaking, there are two different systems for registration of security interests:

  1. registration against the asset which has been secured, and

  2. registration against the entity providing the security

This Practice Note explains the impact on priority of registration at the relevant IP registry of:

  1. a UK patent

  2. a UK registered trade mark, or

  3. a UK registered design

For information about how registration against other assets affects priority of security interests, see Practice Notes:

  1. Effect of registering security at the HM Land Registry/Land Charges Department on priority of security interests

  2. Effect of registering security on the UK Ship Register on priority of security interests

  3. Effect of registering security on the UK Register of Aircraft Mortgages on priority of security interests

In addition, most security interests created by a company which is formed and registered under the Companies Act 2006 need