What occurs if a first buyer fails to record their assignment in time?

When a first buyer fails to record their assignment in a timely manner, they may still be considered the legal owner of the patent, but their rights can be jeopardized due to the actions of subsequent buyers. In the context of patent law, recording an assignment is significant because it provides public notice of the ownership rights associated with a patent. If the first buyer does not record their assignment and a second buyer subsequently acquires the same patent rights and records that assignment, the second buyer may take precedence over the first buyer.

This situation highlights the principle of "first to file," which applies to recording assignments in patent law. The law generally favors the second buyer who diligently records their assignment, effectively granting them title over the patent regardless of the earlier unrecorded assignment. Thus, the first buyer’s failure to record means they risk losing their priority claim to the title against a second buyer who records their assignment promptly.

In this context, the other options do not accurately reflect the situation. The first buyer does not lose title outright, and an unrecorded assignment does not necessarily become void. Additionally, the patent office does not automatically record the assignment; recording must be done by the parties involved. Therefore, the second buyer taking title over the first is the correct