What would lawfully be considered as intellectual property?
Atlanta, GA
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Posted 4 months ago in Partnership
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example: two are in oral agreement of partnership, one owns the name (business license other owns any and all web domains (which is never compensated for hosting, registration etc)
would the domains be considered as assets or intellectual property to the partnership? Answers (3)Pamela Koslyn
This attorney is licensed in California.
Posted 4 months ago.
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If the business license and business name are assets of an oral partnership, the general rule is that each partner owns these assets in equal shares. Since these assets are not divisible, one usually buys the other out or agrees to sell for the same price they'd agree to pay, or you can get a neutral 3rd party to determine the asset's value for you.
The domain name's registrar and the City just issue the products to whoever buys them in whatever owner's name they're given, without making a determination of whether or not someone is violating a partnership agreement. If one of the partners has appropriated these and is claiming these assets as their personal assets, the other partner may have to sue, for claims such as breach of partnership agreement and breach of fiduciary duty. You will probably need the help of a qualified business litigator. If the domain name uses the partnership's tradmark, it's also possible to initiate a UDRP proceeding to get the domain name re-assigned. Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.
Glenn M. Lyon
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