Lenders are urging Congress to pass legislation that would treat intellectual property the same way other assets are handled by bankruptcy courts.

Secured lenders normally establish their right to a defaulted borrower's tangible or intangible assets before unsecured creditors by making a state filing under the Uniform Commercial Code. But some bankruptcy courts have recently ruled that lenders must go through a more complicated federal filing process when the assets are intellectual material such as software programs.

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