Steps To Taking Security Over Software

1. Introduction

In the modern and increasingly tech-focused world, software technology is often a valuable asset of a potential borrower. Alongside this is a need to ensure that lenders considering taking security over borrower groups with software as a key asset can walk the delicate line between ensuring that such security over the software is valid and, in the event a receiver is appointed to the borrower, readily marketable/ disposable and allowing the borrower sufficient flexibility to use the software in the ordinary course of its business. In addition, all of this needs to be done in a manner that is most efficient and cost effective, both to implement and to manage.

This note contains a brief summary of the steps needed to be taken to effect security over software.