If you are a holder of security interests in personal property, including IP assets and transferable IP licences, you have a 31 January 2014 deadline to record your interests on the Personal Properties Security Register (“PPSR”) in order to maintain the priority of your interests.
IP assets include:
- patents;
- registered trade marks;
- copyright;
- registered designs;
- registered plant breeders’ rights; and
- circuit layout rights.
Why register security interests on the PPSR?
Failure to register these interests on the PPSR by 31 January 2014 may result in the priority of your interests being lost to other parties with competing interests. This is the case even if your security interests have already been recorded on the IP Registers maintained by IP Australia – these recordals will not be automatically transitioned to the PPSR.
How to register security interests on the PPSR
We can assist you to identify and record your interests on the PPSR and the IP Australia registers.
We have previously provided further information about the PPSR here: /pub/detail/993/time-is-running-out-to-register-transitional-security-interests-under-the-personal-property-securities-register