The pledge of business property shall mean the agreement whereby the settlor allocates as security for a debt intangible elements which constitute his business property, namely the clientele and trade sign or the trade name.
Other intangible elements of the business such as the right to a commercial lease, exploitation licenses, letters patent, trade mark and trade name, designs and models and other intellectual property rights may be the subject of a pledge. It may be extended to professional equipment.
This extension of the pledge shall be contained in a special clause designating the elements so pledged and specially mentioned in the Trade and Personal Property Rights Register. The said clause shall have no effect unless it is published according to article 160 of this Uniform Act.
There shall be no pledge on real property rights conferred or stated in the leases or in agreements subject to registration in the real property publicity register.
Where the pledge is on the business property and its branches, they shall be designated by a precise indication of their head office.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 38
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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