Security Right against Intellectual Property under UNCITRAL Model Law on Secured Transactions and Iranian Law

Under UNCITRAL model, law on secured transaction creation security right against intellectual property has been allowed. References in the model law to intellectual property are to be understood as references to intellectual property rights of an owner of intellectual property. The essence of the rights of an owner is the right to transfer its intellectual property, the right to prevent unauthorized use of its intellectual property and to pursue infringers, the right to register intellectual property and renew registrations, the right to authorize others to use or exploit the intellectual property and the right to collect royalties. Security right arises from security agreement. Under security right, owner of intellectual property provides these rights to secure an obligation. Although all intellectual property rights have a financial value and can be secured from the point of view of the model law, this law provides for two types of rights that have commercial and economic value, including the right to transfer intellectual property and the right to authorize others to use or exploit the intellectual property. It becomes intellectual property to third parties. There is no method in Iranian law similar to the method of the UNCITRAL Model Law for the authentication of intellectual property. It seems that the rules of the UNCITRAL Model Law can be used to legislate in Iranian law.