{"id":57,"date":"2018-01-05T16:30:40","date_gmt":"2018-01-05T16:30:40","guid":{"rendered":"https:\/\/lex-warrier.in\/archives\/?p=57"},"modified":"2019-02-13T16:26:51","modified_gmt":"2019-02-13T16:26:51","slug":"law-security-system-india","status":"publish","type":"post","link":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html","title":{"rendered":"Imperfections of law of perfection-of-security system in India"},"content":{"rendered":"<p style=\"text-align: center;\"><span style=\"color: #993300;\"><strong>Dr. Lawwellman P<\/strong><\/span><br \/>\nAssistant Professor (Law),<br \/>\nGovernment Law College, Kozhikode<\/p>\n<hr \/>\n<h2 style=\"text-align: justify;\">Abstract<\/h2>\n<p style=\"text-align: justify;\">It is well accepted that access to credit is crucial for economic growth. Intellectual Property is recognised as a valuable asset world over and it is considered that use of intellectual property as security asset can increase available credit. When a security ** interest is created by borrower\/other person interested in the borrower, in favour of lender, it becomes enforceable against the borrower\/that other person who created security interest. But the existence of the security interest will not necessarily be known to third parties who propose to acquire an interest in the asset, or to other unsecured creditors. To safeguard such people law usually requires the secured party to give some form of public notice. This requirement of public notice is known as perfection requirement for third party effectiveness. The perfection systems presently existing in India are Registration\/Filing\/Noting with Authorities under Intellectual Property Statutes and Laws Other Than Intellectual Property Statutes; and Possession\/deposit of title document based perfection systems. Attempt in the article is to survey the existing system(s) of perfection of security interest recognised in India to see its appropriateness to IP secured <a href=\"https:\/\/lex-warrier.in\/archives\/foreign-investment-treaties-html.html\" target=\"_blank\" rel=\"noopener\">Financing<\/a> and bring out imperfections thereof.<\/p>\n<p style=\"text-align: justify;\">** The term \u2018Security\u2019 means either the mode security or the asset in respect of which security right is created, depending on the context.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993300;\"><strong>Keywords:\u00a0<\/strong><\/span>Security Systems, Intellectual Property, IP Security, Unsecured Creditors,\u00a0Lawwellman<\/p>\n<p><span style=\"color: #3366ff;\"><strong>Preferred Citation<\/strong><\/span><\/p>\n<div class=\"su-quote su-quote-style-default\"><div class=\"su-quote-inner su-u-clearfix su-u-trim\">Dr. Lawwellman P, Imperfections of law of perfection-of-security system in India, The Lex-Warrier: Online Law Journal (2018) 1, pp. 1 \u2013 18, ISSN (O): 2319-8338<\/div><\/div>\n<p style=\"text-align: right;\"><a href=\"https:\/\/lex-warrier.in\/archives\/wp-content\/uploads\/2019\/02\/Imperfections-of-law-of-perfection-of-security-system-in-India.pdf\" class=\"su-button su-button-style-glass\" style=\"color:#FFFFFF;background-color:#ef792d;border-color:#c06124;border-radius:7px\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color:#FFFFFF;padding:7px 20px;font-size:16px;line-height:24px;border-color:#f4a26c;border-radius:7px;text-shadow:none\"><i class=\"sui sui-file-pdf-o\" style=\"font-size:16px;color:#FFFFFF\"><\/i> Read the full paper<\/span><\/a>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Lawwellman P Assistant Professor (Law), Government Law College, Kozhikode Abstract It is well accepted that access to credit is crucial for economic growth. Intellectual Property is recognised as a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"brizy-blank-template.php","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[3,5],"tags":[],"class_list":["post-57","post","type-post","status-publish","format-standard","hentry","category-abstract","category-special-issue","no-post-thumbnail","clearfix","entry"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Security system in India, law and related issues | The Lex-Warrier: Online Law Journal<\/title>\n<meta name=\"description\" content=\"Term Security means either the mode security or the asset in respect of which security right is created, depending on the context.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Security system in India, law and related issues | The Lex-Warrier: Online Law Journal\" \/>\n<meta property=\"og:description\" content=\"Term Security means either the mode security or the asset in respect of which security right is created, depending on the context.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\" \/>\n<meta property=\"og:site_name\" content=\"The Lex-Warrier: Online Law Journal\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lex.warrier.page\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-05T16:30:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-13T16:26:51+00:00\" \/>\n<meta name=\"author\" content=\"Lex-Warrier\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LexWarrier\" \/>\n<meta name=\"twitter:site\" content=\"@LexWarrier\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lex-Warrier\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#article\",\"isPartOf\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\"},\"author\":{\"name\":\"Lex-Warrier\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/#\/schema\/person\/ab2bb19b344a2bfcbc373777495f8f82\"},\"headline\":\"Imperfections of law of perfection-of-security system in India\",\"datePublished\":\"2018-01-05T16:30:40+00:00\",\"dateModified\":\"2019-02-13T16:26:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\"},\"wordCount\":302,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/#organization\"},\"articleSection\":[\"Abstract\",\"Special Issue\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\",\"url\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\",\"name\":\"Security system in India, law and related issues | The Lex-Warrier: Online Law Journal\",\"isPartOf\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/#website\"},\"datePublished\":\"2018-01-05T16:30:40+00:00\",\"dateModified\":\"2019-02-13T16:26:51+00:00\",\"description\":\"Term Security means either the mode security or the asset in respect of which security right is created, depending on the context.\",\"breadcrumb\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/lex-warrier.in\/archives\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Imperfections of law of perfection-of-security system in India\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/#website\",\"url\":\"https:\/\/lex-warrier.in\/archives\/\",\"name\":\"The Lex-Warrier: Online Law Journal\",\"description\":\"ISSN (O): 2319-8338\",\"publisher\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/lex-warrier.in\/archives\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/#organization\",\"name\":\"The Lex-Warrier: Online Law Journal\",\"url\":\"https:\/\/lex-warrier.in\/archives\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i2.wp.com\/www.lex-warrier.in\/wp-content\/uploads\/2019\/02\/The-Lex-Warrier-Online-Law-Journal-1.png?fit=496%2C160\",\"contentUrl\":\"https:\/\/i2.wp.com\/www.lex-warrier.in\/wp-content\/uploads\/2019\/02\/The-Lex-Warrier-Online-Law-Journal-1.png?fit=496%2C160\",\"width\":496,\"height\":160,\"caption\":\"The Lex-Warrier: Online Law Journal\"},\"image\":{\"@id\":\"https:\/\/lex-warrier.in\/archives\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/lex.warrier.page\/\",\"https:\/\/x.com\/LexWarrier\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/#\/schema\/person\/ab2bb19b344a2bfcbc373777495f8f82\",\"name\":\"Lex-Warrier\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/lex-warrier.in\/archives\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b7ad5c6449779ff1b8138f13b99bc7373067c121ed40965fc4da29ee734eeb28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b7ad5c6449779ff1b8138f13b99bc7373067c121ed40965fc4da29ee734eeb28?s=96&d=mm&r=g\",\"caption\":\"Lex-Warrier\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Security system in India, law and related issues | The Lex-Warrier: Online Law Journal","description":"Term Security means either the mode security or the asset in respect of which security right is created, depending on the context.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html","og_locale":"en_US","og_type":"article","og_title":"Security system in India, law and related issues | The Lex-Warrier: Online Law Journal","og_description":"Term Security means either the mode security or the asset in respect of which security right is created, depending on the context.","og_url":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html","og_site_name":"The Lex-Warrier: Online Law Journal","article_publisher":"https:\/\/www.facebook.com\/lex.warrier.page\/","article_published_time":"2018-01-05T16:30:40+00:00","article_modified_time":"2019-02-13T16:26:51+00:00","author":"Lex-Warrier","twitter_card":"summary_large_image","twitter_creator":"@LexWarrier","twitter_site":"@LexWarrier","twitter_misc":{"Written by":"Lex-Warrier","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#article","isPartOf":{"@id":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html"},"author":{"name":"Lex-Warrier","@id":"https:\/\/lex-warrier.in\/archives\/#\/schema\/person\/ab2bb19b344a2bfcbc373777495f8f82"},"headline":"Imperfections of law of perfection-of-security system in India","datePublished":"2018-01-05T16:30:40+00:00","dateModified":"2019-02-13T16:26:51+00:00","mainEntityOfPage":{"@id":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html"},"wordCount":302,"commentCount":0,"publisher":{"@id":"https:\/\/lex-warrier.in\/archives\/#organization"},"articleSection":["Abstract","Special Issue"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html","url":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html","name":"Security system in India, law and related issues | The Lex-Warrier: Online Law Journal","isPartOf":{"@id":"https:\/\/lex-warrier.in\/archives\/#website"},"datePublished":"2018-01-05T16:30:40+00:00","dateModified":"2019-02-13T16:26:51+00:00","description":"Term Security means either the mode security or the asset in respect of which security right is created, depending on the context.","breadcrumb":{"@id":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lex-warrier.in\/archives\/law-security-system-india.html"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/lex-warrier.in\/archives\/law-security-system-india.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/lex-warrier.in\/archives\/"},{"@type":"ListItem","position":2,"name":"Imperfections of law of perfection-of-security system in India"}]},{"@type":"WebSite","@id":"https:\/\/lex-warrier.in\/archives\/#website","url":"https:\/\/lex-warrier.in\/archives\/","name":"The Lex-Warrier: Online Law Journal","description":"ISSN (O): 2319-8338","publisher":{"@id":"https:\/\/lex-warrier.in\/archives\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lex-warrier.in\/archives\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/lex-warrier.in\/archives\/#organization","name":"The Lex-Warrier: Online Law Journal","url":"https:\/\/lex-warrier.in\/archives\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lex-warrier.in\/archives\/#\/schema\/logo\/image\/","url":"https:\/\/i2.wp.com\/www.lex-warrier.in\/wp-content\/uploads\/2019\/02\/The-Lex-Warrier-Online-Law-Journal-1.png?fit=496%2C160","contentUrl":"https:\/\/i2.wp.com\/www.lex-warrier.in\/wp-content\/uploads\/2019\/02\/The-Lex-Warrier-Online-Law-Journal-1.png?fit=496%2C160","width":496,"height":160,"caption":"The Lex-Warrier: Online Law Journal"},"image":{"@id":"https:\/\/lex-warrier.in\/archives\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/lex.warrier.page\/","https:\/\/x.com\/LexWarrier"]},{"@type":"Person","@id":"https:\/\/lex-warrier.in\/archives\/#\/schema\/person\/ab2bb19b344a2bfcbc373777495f8f82","name":"Lex-Warrier","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lex-warrier.in\/archives\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b7ad5c6449779ff1b8138f13b99bc7373067c121ed40965fc4da29ee734eeb28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b7ad5c6449779ff1b8138f13b99bc7373067c121ed40965fc4da29ee734eeb28?s=96&d=mm&r=g","caption":"Lex-Warrier"}}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2ACRt-V","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/posts\/57","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/comments?post=57"}],"version-history":[{"count":7,"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/posts\/57\/revisions"}],"predecessor-version":[{"id":370,"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/posts\/57\/revisions\/370"}],"wp:attachment":[{"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/media?parent=57"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/categories?post=57"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lex-warrier.in\/archives\/wp-json\/wp\/v2\/tags?post=57"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}