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Scientists have been collecting neural data from the brain for medical reasons for years, with myriad regulatory constraints in place. But in 2024, technologies are moving fast and furiously into the realm of consumer products.
The NeuroRights Foundation (NRF) reported in April that implantable technology can already decode language and emotions from the brain, and wearable devices are not far behind. Consumer product companies — and indeed, employers — already are, or will soon be able to, monitor brain waves through wearable devices such as headphones or through an employee typing without touching a keyboard or mouse. As the NRF report notes, at least 30 so-called neurotechnology products are available for purchase by the public.
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The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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