Azerbaijan, Baku, Feb. 25 / Trend M.Aliyev /
The Azerbaijani Government approved the "Rules for registration of contracts for the provision of patent right as security," the Cabinet of Ministers reported.
According to the rules providing registration and registering security agreements, while presenting a contract on behalf of the legal entity, a declaration or an agreement is signed by the head of the organization or an authorized person in the proper order. Position and name of the undersigning person are specified and confirmed with a seal by a legal entity.
In the case when an individual acts as a party in the security contract, their (his) signature will be confirmed by a notary.
According to the rules for the registration of a security agreement in the State Committee for the Standardization, Metrology and Patents of Azerbaijan, it is necessary to submit mortgagor's statements, security agreement, a copy of the objects of the invention patents, utility model and industrial design, a copy of the certificate on state registration of legal entities (if necessary), a document confirming the payment of a certain state fees for registration of a security agreement, power of attorney in two copies (if necessary).