[kguttag]

I'm not a lawyer, but my understanding that the effectively J.P. Morgan now owns the patents (unless a court somehow unwinds the deal) and why the assignment was registered with the USPTO. The patents are then being licensed back to Magic Leap. In this way if Magic Leap defaults, J.P. Mogan simply owns the I.P. like if you pawn something and default on the payback terms.

[berberous]

No, this is a short-form IP security agreement that's customarily used by a secured lender to perfect its security interest in IP collateral. If you want more details, this page explains why these forms are necessary: https://www.whitecase.com/publications/article/perfecting-se....

Ownership does not transfer to the secured lender as a result of this filing.

[egdod]

> The patents are then being licensed back to Magic Leap.

Do you have any evidence for that idea, or are you just making things up?

[jonas21]

At the very top of the PDF, it says this is a patent security agreement, which is a common way to use patents as collateral for a loan. JP Morgan will only own the patents if Magic Leap defaults on the loan.

You can read more about patent security agreements here:

https://www.ipwatchdog.com/2012/06/21/getting-a-loan-with-yo...

[ineedasername]

It looks like the IP was simply collateral. So as long as Magic Leap repays the loan, they still own the IP. Well, as much as you own a house that has a mortgage anyway.