The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
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:
registration against the asset which has been secured, and
registration against the entity providing the security
This Practice Note explains the impact on priority of registration at the relevant IP registry of:
a UK patent
a UK registered trade mark, or
a UK registered design
For information about how registration against other assets affects priority of security interests, see Practice Notes:
Effect of registering security at the HM Land Registry/Land Charges Department on priority of security interests
Effect of registering security on the UK Ship Register on priority of security interests
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
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