Indiana § 26-1-9.1-321 Licensee of general intangible and lessee of goods in ordinary course
of business

Indiana Statutes

§ 26-1-9.1-321 — Licensee of general intangible and lessee of goods in ordinary course of business

Indiana § 26-1-9.1-321

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-321 (Licensee of general intangible and lessee of goods in ordinary course of business) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-9.1-321 (2026).

Text

(a)In this section, "licensee in ordinary course of business" means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in the ordinary course if the license to the person comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices.

(b)A licensee in ordinary course of business takes its rights under a nonexclusive license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected

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(a) In this section, "licensee in ordinary
course of business" means a person that becomes a licensee of a
general intangible in good faith, without knowledge that the license
violates the rights of another person in the general intangible, and in
the ordinary course from a person in the business of licensing general
intangibles of that kind. A person becomes a licensee in the ordinary
course if the license to the person comports with the usual or customary
practices in the kind of business in which the licensor is engaged or
with the licensor's own usual or customary practices.
(b) A licensee in ordinary course of business takes its rights under
a nonexclusive license free of a security interest in the general
intangible created by the licensor, even if the security interest is
perfected and the licensee knows of its existence.
(c) A lessee in ordinary course of business takes its leasehold
interest free of a security interest in the goods created by the lessor,
even if the security interest is perfected and the lessee knows of its
existence.