Trademark Mortgage in UAE
Trademark Mortgages means the documents in respect of each trademark, logo, trade name, service mark and/or service name of each Borrower in substantially the form of Exhibit I attached hereto or in such other form as may be acceptable to the Bank in its sole and absolute discretion.
One obtains a security interest in a trademark by obtaining a written grant of a security interest from the debtor. The grant should cover the trademark itself, the accompanying goodwill, and, ideally, any other assets that embody that goodwill, such as corresponding domain name registrations. The trademark itself should not be assigned, as such an assignment separates the actual or beneficial owner of the mark and the legal owner; such a separation can result in involuntary abandonment of the mark
This service allows the pledgee to submit a request to pledge a trademark, in accordance with the procedures and conditions for trademark ownership transfer.
Purpose of Trademark Security Agreement
Obtaining a security interest in intellectual property of a borrower enables a creditor to mitigate risk. The validly executed security interest may enable a creditor to claim a right to the collateral in the event of a default or bankruptcy. A creditor must both obtain a security interest grant and “perfect” or “record” that interest so as to establish priority over non-secured creditors and other third-party claims to the asset.
Security Agreement is a standard short-form trademark security agreement for use as an ancillary agreement to a principal security agreement in a secured loan transaction. This trademark security agreement can be attached as an exhibit to the principal security agreement and separately executed and recorded with the UAE Patent and Trademark Office against trademark registrations and applications included in the collateral subject to the security interest.
The Expected Duration of Service Delivery
The expected duration of service delivery is 40 days.
Official fees for Trademark mortgage service amount cost AED1250.
Procedure of Trademark Mortgage
- Filling application
- Application study
- Mortgage and transition requestor details: Mortgage and transition requestor name, phone, email, nationality, legal nature.
- Trademark details: Trademark name, Trademark name translation English/Arabic, Trademark type, Trademark class, mark description, class number, product explanation.
- Document attachments: Trademark Registration Certificate Copy, Document Indicating Using The Trademark License, Document Indicating The Ownership Transition and Modification, Trademark logo, , Passport Copy, complete home address, Power of Attorney (notarized by the Notary Public & legalized by the UAE), Priority documents if any.
Are you looking to modify your trademark ownership in the UAE? Our expert consultant can advise on the cost in UAE and assist you throughout the modification process. Drop us a line at [email protected] or give us a call at +97144470880 Alternatively, you can schedule a complimentary consultation with us at [email protected].