Division of Intellectual Property in Brooklyn

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Sometimes a divorce will call for the division of intellectual property in addition to physical property. Generally, intellectual property refers to the rights of an idea, with ownership coming in the forms of patents, trademarks, or copyrights. It is important to understand that if the idea generated during a marriage, then it is considered to be marital property in New York. If you are undergoing a divorce in New York, make sure you contact a trusted Brooklyn divorce lawyer who can guide you through this complicated process and protect you.

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Steps in Dividing Intellectual Property

When you are going through a difficult divorce, the division of property can be a major cause of stress. Often times you will need legal representation in order to rightly determine how to go about the process. However, when divorces involve the division of intellectual property, it is even more imperative that you have seasoned counsel on your side.

Here are some necessary steps to follow when going through property division:

  • Identify the nature of the intellectual property: You need to be aware of anything that is copyrighted or patented. This is particularly important for any type of creations that might generate future income, such as a song or painting. Determining the worth of intellectual property can be speculative, which is why a professional may need to be brought in.
  • Figure how you want to divide the property: The courts will often try to divide the property down the middle. However, an equal split can may not be fair to the creator of the intellectual property.
  • Determine how the properties are managed: If the couple decides that they are going to split the copyright, they then need to figure out how the other spouse will manage any copyright formalities. There needs to be a plan in place with the ex-spouse to handle copyright infringements or any royalties owed to the other spouse.
  • Obey copyright laws: It is imperative that your understanding be in writing and complies with copyright rules and formalities. If not, you could face more challenges down the road.

Don’t go through intellectual property division alone. The legal team at our firm, Coffinas & Lusthaus, P.C. offers compassionate and professional service. Our Brooklyn family law lawyers can do everything in our power to ensure that your rights are protected. If you are worried about intellectual property division, turn to our firm.

Struggling through division of intellectual property? Call our Brooklyn divorce lawyers today!

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