<P> In law, perfection relates to the additional steps required to be taken in relation to a security interest in order to make it effective against third parties or to retain its effectiveness in the event of default by the grantor of the security interest . Generally speaking, once a security interest is effectively created, it gives certain rights to the holder of the security and imposes duties on the party who grants that security . However, in many legal systems, additional steps--- perfection of the security interest--- are required to enforce the security against third parties such as a liquidator . </P> <P> As a legal concept, perfection must be distinguished from: </P>

What does it mean to perfect a security interest
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