Sec. 254.001. IDENTIFICATION OF PATENT RIGHT. (a) A note or lien evidencing or securing the purchase price for a patent right or patent right territory must contain on the face of the note or lien a statement that the note or lien was given for a patent right or patent right territory.
(b) The statement required by Subsection (a):
(1) is notice to a subsequent purchaser of the note or lien of all equities between the original parties to the note or lien; and
(2) subjects a subsequent holder of the note or lien to all defenses available against the original parties to the note or lien.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
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