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Latest developments relating to the UN's IP finance initiative

The IAM blog has been following the progress of attempts by the United Nations Commission on International Trade Law (UNCITRAL) to develop ways in which intellectual property can be more readily used as collateral to raise finance.  I have just received the latest news on where things from Spiros Bazinas, Senior Legal Officer, ITLD/OLA (UNCITRAL secretariat):

At its upcoming 17th session (New York, 8-12 February 2010), Working Group VI (Security Interests) of the United Nations Commission on International Trade Law (UNCITRAL) is expected to adopt and submit to the Commission a Supplement of the UNCITRAL Legislative Guide on Secured Transactions dealing with security interests in intellectual property. After that session, the Secretariat will revise the Supplement to implement the decisions of the Working Group and circulate it to States and international organizations for comments. The comments will be submitted along with the Supplement to the Commission, which will consider the Supplement for final adoption at its 43rd session (New York, 21 June – 9 July 2010). The Supplement adopted by the Commission is expected to be formally considered (without a substantive discussion) and recommended to States by the General Assembly of the United Nations at its 65th session in the fall of 2010.

The overall objective of the Supplement is to promote the availability of secured credit in transactions in which the collateral is an intellectual property right. In line with this objective, the Supplement is designed to make credit more available and at lower cost to intellectual property owners and other intellectual property rights holders, thus enhancing the value of intellectual property rights. The Supplement, however, seeks to achieve this objective without interfering with fundamental policies of law relating to intellectual property, and thus defers to law relating to intellectual property law to the extent of any inconsistency with that law. For further information on the Supplement, see

http://www.uncitral.org/uncitral/en/commission/working_groups/6Security_Interests.html

To obtain expert advice with respect to proposals for future work in the area of secured financing, the Secretariat is organizing the Third International Colloquium on Secured Transactions. One of the topics proposed for future work is intellectual property financing. For information on the colloquium, the outline of the programme and the registration form, see http://www.uncitral.org/uncitral/en/commission/colloquia_security.html.

For comments or queries, write to Spiros V. Bazinas, Senior Legal Officer

International Trade Law Division (UNCITRAL secretariat), Office of Legal Affairs

(spiros.bazinas@uncitral.org).


Joff Wild
IAM Magazine
21 January 2010

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