One day Roundtable on IP as a Security Asset for Credit: Issues & Prospects
Download: Round Table Report
The World Intellectual Property Organization (WIPO) has estimated that intellectual property will account for six trillion dollars in global trade by 2020. Any modern enterprise, from manufacturing to the service sector, holds significant IP assets in various forms from business software to license rights. IP assets are of significance to a knowledge-based firms like software and biotechnology. Such firms play an important role in today’s Indian
economy. Many of Such firms may have only or substantially IP assets as their major asset. IP assets are growing in importance to other firms also. Possibility of using IP assets as security/collateral can open new avenues for firms to raise funds. This may have impact upon survival of many firms, especially during a pandemic period where the firms are funds starved. It is well accepted that access to credit is crucial for economic growth. World Bank has found that Insufficient Collateral is among the top reasons for difficulty in accessing credit finance in the developing world. A common trend among the firms is that credit applications are rejected mostly due to insufficient collateral, i.e. unacceptable or unsuitable collateral. Secured credit is an efficient form of lending/borrowing. IP asset security-based credit which, when implemented in a proper legal and institutional framework, can thus stimulate economic activity.
The-Roundtable : Approximately 200 participants participated in the round table conducted by the DPIIT -IPR chair at NLSIU. Prof. (Dr.) T. Ramakrishna, IP-Chair Professor, NLSIU started off the inaugural session with welcome & opening remarks. Prof. (Dr.) Raj S. Davé: Dr. Dave addressed the audience as Chairperson of the Sessions of the Round Table, briefly outlined the complexity of IP security transactions and Bankruptcy. Prof. (Dr.) Sudhir Krishnaswamy, addressed Presidential Address, also elaborated the English Law situation that
required the commencement of a security interest regime on land in the first place.
Session 1: Chaired by Prof. Dr. Raj S. Davé President |Davé Law Group, LLC, Alexandria, VA, USA; Following are the themes discussed in the Session:
Theme 1: IP Due diligence and valuation for Secured Transactions; by- Mr.Navarre Roy, Managing Associate Anand and Anand.
Theme 2: Creation of Security Interest in IP Asset; by-Mr. Anandaday Misshra, Advocate, Founder- AMLEGALS.
Theme 3:Perfection/Registration of Security interest in IP Asset; by- Prof . Sudipta De Sarkar, KIIT School of Law, Bhubaneswar, Odisha
Theme 4: Enforcement of IP Asset Security interest; by- Mr. Pramod Rao, Group General Counsel, ICICI Group.
Special Guest Speaker : Mr. Philip S. Warden, Partner l Pillsbury, San Francisco, briefed on the following:
(1) Security Interests in Intellectual Property
(2) Perfecting Security Interests in IP: Avoiding the Traps
(3) Bankruptcy Remote Entity (BRE)