Is a security agreement considered a conditional assignment?

No, a security agreement that does not convey the right, title, and interest of a patent property is not considered a conditional assignment. The MPEP section 317.03 states:

“A security agreement that does not convey the right, title, and interest of a patent property is not a conditional assignment.”

This distinction is important because security agreements are treated differently from conditional assignments in terms of recording and their effect on patent ownership.

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Topics: MPEP 300 - Ownership and Assignment, Patent Law, Patent Procedure
Tags: Conditional Assignment, Patent Property, Security Agreement