San Antonio Division of Intellectual Property Attorneys
Dividing tangible assets, such as furniture, jewelry, and works of art, during a divorce is complicated enough as-is, but the process becomes even more intricate when creative property is involved. Although the non-tangible aspects of asset division are easy to overlook, the fruits of mental labor are subject to division in a divorce just as much as concrete assets. Intellectual property is defined as the legal rights to an expressed idea, commonly protected in the form of patents, trademarks, and copyrights. There are a plethora of questions raised when a divorcing couple owns intellectual property, most of which have to do with how much the idea is worth, its future earning potential, who is entitled to royalties, and how much of the intellectual property is part of your marital assets.
At Higdon, Hardy & Zuflacht, L.L.P., we are familiar with the complex nature of dividing intellectual property. Properly quantifying intellectual property is a daunting task, but our legal team understands how important it is to retain creative control over any inventions, processes, or ideas that came to fruition during your marriage. Our skilled division of intellectual property attorneys are dedicated to gaining a clear understanding of your creative endeavors and work precisely to ensure an amicable split favored by both parties. We understand the demarcation of your intellectual property rights is a huge responsibility and can guide you through a medley of options that will best serve your interests.
Division of Intellectual Assets Options
When a divorcing couple divides their intellectual property rights, it is important to consider whether or not you would be willing to work with your former spouse in the future. If you would rather not, it may be beneficial for you to offer a buyout of your spouse’s interest in the patent, copyright, trademark, or idea. Common options for divvying intellectual property include:
- Determining a value of the intellectual property and divide it
- Determining a royalty rate for future return on the intellectual property’s value
If you opt to settle on a divisible value of your intellectual property, there will be short-term costs pertaining to appraisal, but you will be able to end your former spouse’s entanglements in your creative endeavors. These matters are complex, but a knowledgeable attorney can help walk you through which route would be most favorable to you.
Contact a Division of Intellectual Property Attorney
At Higdon, Hardy & Zuflacht, L.L.P., we understand that ownership over your intellectual property is pivotal and division of these complex assets can be cause for argument. Unfair division of your intellectual property rights can negatively impact your future earning potential and squander your creative rights to a project, idea, or invention. Our division of intellectual property attorneys do not take this responsibility lightly and know how to examine all aspects of property division in order to reach a mutually beneficial solution. Don’t hesitate to contact us at our San Antonio offices by calling (210) 349-9933 to discuss your case in further detail.