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Equipment lenders and lessors face specialized issues when the asset is a vessel. How is the lender secured in its collateral? Can a lessor be secured in a vessel titled in lessor's name? How does a lessor perfect its security interest in the vessel? Where does the lessor stand in relation to competing creditors? This article addresses these questions within the U.S. legal system and describes proposed legislation to expand opportunities for lease financing of vessels.
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This is the second installment of a two-part series on the proposed move from a patent system granting priority of patent rights based upon invention dates to a system in which priority is based primarily upon filing dates. The first installment discussed the history behind the current first-to-invent system and the basics of the proposed changes to the system. This installment explores the statutory bars under the proposed legislation and other changes affecting prior art.
Getting information from patents remains a basic task for patent professionals and inventors, but rarely are any tips for reading patents available. Missing some patent detail is not only frustrating, but it can severely impact patenting strategy.
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In a recent case, a patent owner claimed to have invented side impact airbag sensing. The patent enabled an embodiment; that was stipulated. In opposition to a motion for summary judgment of invalidity for lack of enablement, the owner asserted that enablement of a preferred embodiment satisfied the enablement requirement of the patent law. It didn't. The case is only one of several consistent cases. You should beware, and consider the matter in both patent prosecution and litigation. If you own a patent, and wish for a broad construction, be careful what you wish for.
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Brian Short, a real estate finance attorney, has joined Texas law firm Winstead PC as a shareholder. He will be located in the firm's Dallas office, working with the Real Estate Structured Finance Practice Group in the Business & Transactions Department. Short returns to Winstead after a short tenure at Morris, Manning & Martin, LLP, where he was a partner in the firm's capital financial markets, commercial lending and real estate development and finance groups.…
Highlights of the latest commercial leasing cases from around the country.
In addition to targeting counterfeiters, copyright and trademark holders have started going after commercial landlords whose tenants deal in fake merchandise. It is felt that this new strategy is needed in part because the counterfeiting retailers possess very few assets that can be seized and liquidated to compensate the copyright or trademark holder.
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During lease negotiations with an anchor or other national tenant, it is customary for the tenant to slap on a laundry list of prohibited or 'noxious' uses and to require the landlord to subject the shopping center to the restrictions contained therein. However, before the landlord concedes several other historically noxious uses, the owner of a modern-day lifestyle center or mixed-use center, particularly one still under development, should look carefully at these standard restrictions and consider softening the restrictions to allow certain types of uses which are finding their way into upscale and first-class shopping centers.
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The purpose of a 'cure period' provision is to allow the tenant an opportunity to cure a default under the lease before further action can be taken unilaterally by the landlord. However, what happens if the landlord attempts to terminate the lease before the tenant has cured the default and before the end of the cure period? Is this early notification invalid or does it become effective immediately upon the expiration of the cure period without cure?