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Sean Murray: What is the UCC? Or
what are UCCs? UCC stands for

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Uniform Commercial Code. It's
actually a pretty broad area of

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law. But what you need to know
what people need to know is that

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the UCC is a way to file a
public claim on an asset. So if

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I lend you money, and I
collateralize it against

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something specific, how is
anyone going to know that that

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asset is my collateral? How will
they know someone needs to know

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people need to know because if
you go and sell it, they're not

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going to know that I technically
have the rights to it. Or if you

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try to use it as collateral for
another loan, how are they going

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to know that I'm the one that
has it as collateral first. So

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what you do is you file
essentially a public notice that

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this belongs to me, I have the
right to it. So that's what the

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UCC is all about. Affirming your
rights or interest into an

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asset.

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UCC then the small business
finance industry comes up a lot,

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because it's important at times
to know what type of interest

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other people have in certain
assets. Sometimes an MCA

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companies will follow UCC and it
will be against future

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receivables. Or it could even be
against something more than

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that. It depends. But you will
also oftentimes see it in

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traditional commercial finance.
So that's that's what the UCC is

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all about. And that's what UCCs
are.