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|Top of Notices (124) December 29, 2020||US PATENT AND TRADEMARK OFFICE||Print This Notice 1481 CNOG 326|
|Assignments, Powers of Attorney||Referenced Items (118, 119, 120, 121, 122, 123, 124)|
(124) Recordability of Foreclosures for Assignment Purposes It has been the practice of the Assignment Branch to record security agreements between a secured party and a debtor which refer specifically to a patent or a patent application and which are signed by the debtor. However, foreclosures by the secured party were not recorded because they were not signed by the debtor. Accordingly, before recording a foreclosure not signed by a debtor, the Assignment Branch required a Court order. This requirement forced the secured party to bring action in a court of law where otherwise Court action might not have been necessary. To facilitate recording of foreclosures not signed by a debtor and avoid unnecessary court proceedings, the Office will record foreclosures which comply with all of the following criteria: (1) Submission of the foreclosure document with original endorsement by the secured party, or a verified copy thereof; (2) Identification of the patent by patent number or the patent application by serial number, or other acceptable identifier(s) as specified in 37 CFR 1.331(c), in the body of the foreclosure document itself or any addenda incorporated by reference; (3) Reference to the security agreement recorded under 37 CFR 1.331; and (4) Submission of a verified statement by a representative of the secured party stating that the patent or the patent application has been legally foreclosed on based upon the applicable state laws. A foreclosure document complying with the above criteria will be deemed to be a recordable instrument in accordance with 37 CFR 1.331. March 14, 1988 THERESA A. BRELSFORD Assistant Commissioner for Administration [1089 OG 35]