Can a trademark be used as a security?

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Can a trademark be used as a security?

Security interests (collateral rights) over trademarks are recognized by Armenian law. The right conferred by a trademark (or trademark application) may be given as a security or may be levied in execution (art. 28 of the Law on Trademarks).

Security interests must be contained in a written agreement signed by the parties and specifying the nature, the amount and the performance period of the underlying obligation. There is no further requirement such as notarization.

Security interests (liens, pledges etc.) may be recorded with the Armenian Intellectual Property Agency (AIPA) upon request of one of the parties if proof thereof is furnished to the AIPA.

The registration is not a precondition either for validity or enforceability of the security rights. However, the party who relies on such a security interest has a high interest in having it recorded to make it opposable to third parties.

2014-01-11T10:01:46+04:00 January 11th, 2014|