Conflict of Law rules Analysis on Security Interests of Patent Rights and Trade Marks

Abstract

Patent rights and Trade Marks are potentially substantial assets to invest in various fields of developing industries. Article 1(d) Foreign Investment Promotion and Protection Act ratified by Iranian parliament in 2002 refer to those rights that could be the subject of foreign investment agreements in Iran. The question is that if there was an international factor in a security contract of a patent right, what conflict of law rule within the framework of well-known methods could achieve a definitive and, predictable solution. It seems that if there is not neither a mutual agreement nor the most closely connecting factor financially is other than the one referred to the Article 968 of Iranian Civil Code, merely recourse to the legal methods to resolve conflict of laws could be problematic. As a governing law on security interests in patent rights, this article attempts to propose a method of the conflict of law rule corresponded to fundamental features of intellectual property rights by referring to the classical rules of conflict of laws, fundamental economic features of security interests in intellectual property rights and recent international approaches, particularly, the UNCITRAL legislative guide of secured transactions.

Keywords

• industrial property rights
• security interests contract
• party autonomy principle
• choice of law
• lex fori
• economic interests analysis