Re: Time to file assignment
« Reply #1 on: Nov 13th, 2005, 12:18pm »
No, not really. Here's the paragraph I think you're looking at:
|An assignment, grant, or conveyance shall be void as against any subsequent purchaser or mortgagee for a valuable consideration, without notice, unless it is recorded in the Patent and Trademark Office within three months from its date or prior to the date of such subsequent purchase or mortgage. |
It's the same as a deed to real property. The last bona fide purchaser without notice of a prior purchaser takes title. Recordation is considered constructive notice. But constructive notice as of when?
If you record the assignment within 3 months of the execution of the assignment, it's effective constructive notice date is the date of execution of the assignment. If you take longer than 3 months, the recordation is still effective constructive notice, but only as of the actual date of recordation. Anyone taking title in the period between execution of the assignment and recordation would apparently successfully take title if that period covers more than 3 months.
So, it's a really good idea to record the assignment within 3 months of its execution, but it's not a fatal flaw to take longer.