Patents Act 1990

A patentee may, subject only to any rights appearing in the Register to be vested in another person, deal with the patent as the absolute owner of it and give good discharges for any consideration for any such dealing.

This section does not protect a person who deals with a patentee otherwise than as a purchaser in good faith for value and without notice of any fraud on the part of the patentee.

Despite subsection (1), the recording in the Register of a right that is a PPSA security interest does not affect a dealing with a patent.

Equities in relation to a patent may be enforced against the patentee except to the prejudice of a purchaser in good faith for value.

Subsection (3) does not apply in relation to an equity that is a PPSA security interest.

The Personal Property Securities Act 2009 deals with the rights of purchasers of personal property (including intellectual property such as patents) that is subject to PPSA security interests. That Act also provides for the priority and enforcement of PPSA security interests. See the following provisions of that Act:

Part 2.5 (taking personal property free of security interests);

Part 2.6 (priority between security interests);

Chapter 4 (enforcement of security interests).