As with companies, the most valuable asset a couple may own is an intellectual property asset. In divorce agreements, it is important to include specific provisions to account for type of assets.
1
SEARCH
a. Search for any books, articles, paintings, music, choreography, sculptures, photographs, architectural design, drawings, jewelry, and/or other creative endeavor that may be protected through Copyright.
b. Look for any trademark, whether registered or not, used in business by the partners
c. Make a list of any patent applications, whether they have issued or not.
d. Identify any trade secrets that are used in the business, including customer/suppliers lists, business methods, secret manufacturing/service processes, and the like.
2
LIST
a. Be as specific; if necessary include photographs, videos, registrations, or anything that will uniquely identify the copyrightable asset
b. Be specific; do not forget the logo, color, or music, which may be used to identify a business trademark.
c. Be specific, include copies of the patent application, if not published yet, and the number if it has.
3
DRAFT
a. Draft a section specifically addressing Intellectual Property assets.
b. Include the lists you drafted in Step 2.
Comments - add comment