This month’s discussion in Contracting is Intellectual Property. Intellectual property may take many forms but generally includes patent rights, copyright rights, and servicemark and trademark rights. Intellectual property is a creation of federal law and covers a wide range of matters from inventions to writings and made a valuable asset from both parties’ point of view.
The intellectual property right is often viewed as a general intangible. A general intangible is a collateral category of comfort by the Uniform Commercial Code (UCC), whereas the concept of intellectual property collateral in its pure form may not be as familiar.
If you have any questions concerning intellectual property or any other contracting questions, contact your fantastic ByteChek contracting specialist.