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Texas Business & Commerce Code

§ 254.002 — FAILURE TO IDENTIFY PATENT RIGHT; CRIMINAL PENALTY

BC § 254.002Title 7. RECEIPTS, DOCUMENTS OF TITLE, AND OTHER INSTRUMENTS · Ch. 254. NOTE OR LIEN IDENTIFYING A PATENT RIGHT

Statute text

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(a)A person selling a patent right or patent right territory may not take a note or lien evidencing or securing the purchase price for the patent right or patent right territory without placing on the face of the note or lien the statement required by Section 254.001(a).
(b)A person who violates this section commits an offense. An offense under this section is a misdemeanor punishable by a fine of not less than $25 or more than $200.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.

Source: Texas Business & Commerce Code § 254.002 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.