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Texas Business and Commerce Code - BUS & COM § 254.001. Identification of Patent Right

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A note or lien evidencing or securing the purchase price for a patent right or patent right territory must contain on the face of the note or lien a statement that the note or lien was given for a patent right or patent right territory.

(b) The statement required by Subsection (a):

(1) is notice to a subsequent purchaser of the note or lien of all equities between the original parties to the note or lien; and

(2) subjects a subsequent holder of the note or lien to all defenses available against the original parties to the note or lien.

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Cite this article: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 254.001. Identification of Patent Right - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-254-001/

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