Annual Meeting. The Model Intellectual Property Security Agreement (MIPSA) Joint Task Force will be meeting at the Business Law Section's first Annual Meeting in Chicago on Thursday September 11, 2014, from 1:30 -3:00 pm. (Central time), in the Colombian room, Bronze Level, West Tower at the Hyatt Regency Chicago. We hope to see you there, but if you cannot attend in person, please call in:
Toll Free Dial-in: (U.S. and Canada): (866) 646-6488
International Dial-in: (707) 287-9583
Conference Passcode: 1145265056
New Working Draft. At the Annual Meeting, we will be discussing the current revised Working Draft (September 2014) (posted below). We will continue to focus on the default and remedy provisions (now combined in Section 4) and the powers of attorney, indemnities and costs provisions (now combined in Section 5). We anticipate that Section 6 (General provisions) and Section 7 (Definitions and usage) should not need much attention.
I hope you will be able to join us in person or by phone at the meeting. As always, please let me know if you have any comments, questions or suggestions. Thanks for your participation in this project.
Kathi Allen, Co-Chair
Monthly Teleconference Meetings. The Task Force met most recently by teleconference on Wednesday August 20, and generally meets monthly on the third Wednesday of each month:
•Date: September 17, 2014 (third Wednesday of each month)
•Time: 4:00 pm Eastern/3:00pm Central/2:00pm Mountain/1:00pm Pacific
•Toll Free Dial-in: 866.646.6488
•International Dial-in: +1.707.287.9583
•Conference Passcode: 9101063640
U.S. Limitation. The model agreement is now limited to the U.S. We have been revisiting this issue repeatedly since the Task Force was initially formed in 2010. As the Task Force moves closer to the completion of a model agreement, we have made an editorial decision to limit the scope of the model agreement to a U.S. transaction involving a single U.S. debtor with only U.S. intellectual property collateral. I realize that this is an artificial limitation, that most IP secured transactions will at least contemplate the possibility of future IP collateral governed by the laws of non-US jurisdictions and that there are various arguments supporting the inclusion of language to reach foreign intellectual property and to address the related concepts and issues. Nevertheless, I believe that the most effective way to finalize at least the first part of the Task Force's work is to expressly exclude foreign IP from this model agreement. If someone wants to undertake the work to add foreign IP, I am sure that a task force could be reconstituted to create a supplement to (or replacement of) the original work.