Is a security agreement considered a conditional assignment?

This page is an FAQ based on guidance from the Manual of Patent Examining Procedure. It is provided as guidance, with links to the ground truth sources. This is information only: it is not legal advice.

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.