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ARTICLE · 23 DECEMBER 2013

PPSA and IP assets: Registering security interests before it's too late!

DibbsBarker
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Register your IP assets before the transitional PPSA period ends Jan 31st.

AustraliaCorporate/Commercial Law
Amanda Bull
Amanda Bull
Catherine Boxhall (Formerly With DibbsBarker)
Catherine Boxhall (Formerly With DibbsBarker)
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Focus: Expiration of the PPSA two-year transitional period
Services: Intellectual Property & Technology
Industry Focus: Energy, Resources & Infrastructure, Financial Services, Medical & Pharmaceutical, Property, Insurance

The PPSA's two-year transitional period that granted temporary protection to interests in personal property expires on 31 January 2014. After that date, many Australian businesses and the holders of security interests over Australian intellectual property rights will lose the protection they enjoyed during 2012 and 2013.

Background

The Personal Property Securities Act 2009 (Cth) (PPSA) commenced on 30 January 2012. The PPSA replaced more than 70 different registers with a single, national online register. It also did away with the formal requirements previously necessary to create a 'security interest' and instead expanded the term to include retention of title arrangements, bailments and long-term leases

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