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Secured Transactions & Intellectual Property

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security_interestsBush Gottlieb has pioneered the use of security interests to enforce performance of collective bargaining obligations. While traditional labor doctrine is hostile to extensive bargaining over such mechanisms, Bush Gottlieb has nonetheless developed broad expertise in negotiating contract provisions providing for adequate financial assurances, and the creation and perfection of security interests, particularly in motion picture collateral and related proceeds and receivables. We have found that collateralizing employer property to secure performance of contract obligations greatly enhances contract enforcement. Our familiarity with Article 9 of the Uniform Commercial Code, the Copyright Act, the Canadian Copyright Act, and the laws of other foreign jurisdictions relating to perfection of security interests in copyrights and related assets exemplifies the firm’s creativity in harnessing commercial law concepts for the protection of worker interests.

We have been involved in hundreds of complex motion picture production and financing transactions, representing the interests of labor unions through negotiation of security agreements, intercreditor agreements, guaranties, collection account agreements and other devices intended to maximize employer performance of obligations owed to union members under collective bargaining agreements. Bush Gottlieb’s commitment to vigorously protect the interests of labor unions in the area has taken us to Sacramento and Washington, D.C. as we monitor and often play a significant role in legislative efforts that impact on the laws and regulations governing the creation of liens in intellectual property.

In addition to counseling our clients in properly obtaining and perfecting security interests, we also assist in obtaining alternative financial assurances, and in enforcing security interests through negotiated resolutions, foreclosure sales, and creative use of such liens to protect the interests of labor organizations as creditors in bankruptcies, workouts and other insolvency scenarios.

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