Partner of Castellanos & Co.
SECURITY INTEREST OVER INTELLECTUAL PROPERTY RIGTHS IN COLOMBIA
The new Colombian Law 1676 of August 20, 2013, prescribed rules regarding security interest over non real estate property. The law includes the possibility of constituting security interests over Intellectual Property rights and over the economic benefits derived from such rights.
The National Patent and Trademark Office is now in charge of the special registry of security interests with regard to Intellectual Property assets, such as trademarks, commercial slogans, patents, utility model patents, industrial designs etc…
The registration of the security interest before the National Patent and Trademark Office grants the right of security over the Intellectual Property asset. Without registration, there is no security interest, notwithstanding the existence of a written agreement.
The owner of the Intellectual Property right as appearing in the IP registration is the one entitled to register the security interest. The creditor can also register it with authorization from the Intellectual Property right owner.
For registration of the security interest and its modification, cancellation or enforcement, before the National Patent and trademark Office, there is a special application form which requires the following information and documents:
– Identification of the parties (debtor and creditor)
– Intellectual property right over which the security stands (trademark, slogan, industrial design, patent of invention etc…)
– Indication of the maximum amount of the obligation to be secured with the Intellectual Property right.
– Documentation in support of the registration, depending on whether the registration refers to the initial security interest, its cancellation, commencement of enforcement of the security,or termination of enforcement.
– Official fees payment receipt.
The law is also important because it introduces a new means of enforcement of the security. If the parties so agree, the enforcement can take place before a notary public or a chamber of commerce, without the need of it’s being done before a judge.
Given its recent introduction, it remains to be seen in the future, how this procedure and regulations will increase access of the general public to credit.
© Castellanos & Co.
Recognized as lawyer in 1993 in Colombia.
Education: Pontificia Universidad Javeriana, Bogota, Graduated in 1992, Lawyer in 1993.
Specialization and other studies: Harvard University Summer School, 1991, Franklin Pierce Law Center, Concord, NH, USA, Diploma in Intellectual Property, 1993-1994. Pontificia Universidad Javeriana, Bogota, Specialization in Commercial Law, 1995. Universidad Externado de Colombia, Specialization in Contentious Administrative Law, 1997
ACPI (Colombian Association of Intellectual Property). Member of Patent Committee.
AIPPI (Association International pour la Protection de la Proprieté Industrielle) Actual National Reporter.
HOLLAND HOUSE (Chamber of Commerce between the countries of Holland and Colombia) Member.
Current Occupation: from 1994 until today, partner of CASTELLANOS & CO.