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.
To learn more:
Topics:
MPEP 300 - Ownership and Assignment,
Patent Law,
Patent Procedure