Assignment, transmission and security interest transaction
s 39
(1) A patent application or patent may be assigned or transmitted in the same way as other personal or moveable property. (1A) A patent may be the subject of a security interest in the same way as other personal or moveable property. (2) Any person becoming entitled by assignment or transmission to a patent application or patent may apply to the Registrar in the prescribed manner to have such assignment or transmission recorded in the Register. (2A) Any person who is a party to a security interest transaction in respect of a patent may apply to the Registrar in the prescribed manner to have such security interest transaction recorded in the Register. (2B) Any security interest in respect of a patent may be enforced in the same way as other personal or moveable property. (3) No such assignment, transmission or security interest transaction shall be recorded in the Register unless— (a) the prescribed fee has been paid to the Registrar; (b) in the case of an assignment, it is in writing signed by or on behalf of the contracting parties. (4) No such assignment, transmission or security interest transaction shall have effect against third parties unless so recorded in the Register. (5) The Registrar may amend any particulars relating to a security interest transaction in the Register on the application of any person who is a party to the security interest transaction in the prescribed manner together with the payment of the prescribed fee. (6) The Registrar may remove the recorded security interest transaction from the Register on the application of any person who is a party to the security interest transaction in the prescribed manner.