Under the Guide, a transferee of an encumbered asset (including intellectual property) normally takes the asset subject to a security right that was effective against third parties at the time of the transfer (see recommendation 79).
12. 根据《指南》，担保资产（包括知识产权）受让人取得资产时通常附带转让时具有对抗第三人效力的担保权（见建议79）。