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Assume you are a newly hired associate at a prominent Manhattan law firm. The partner to whom you are assigned is representing a private investor

Assume you are a newly hired associate at a prominent Manhattan law firm. The partner to whom you are assigned is representing a private investor that is interested in lending $100,000.00 to a friend who is purchasing a coffee bar business. It is a friend of his but business being business, and the client wants to make sure his investment is as secure as possible. The coffee bar is in a rented space but along with the coffee business comes quite a bit of tangible property, such as several point of sale cash registers, 4 expensive expresso/cappacinno makers, specialty coffee mugs and expresso cups, dishes, leather seats, tables, signage, counters, ovens, under the counter refrigerators and freezers and several display cases. In addition, the existing inventory of food and coffee is being sold as well. Also, this coffee bar is well-known for a special latte the recipe for which is a trade secret, which secret recipe comes with the purchase. The partner has asked you to prepare a brief memo to him concerning what legal documents are necessary to secure the loan and what property could be used as collateral. Additionally, please set forth what steps the partner should take to establish a secured loan. (Your memo/answer should not be more than 1,000 words)

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