If the end of your marriage is on the horizon, you may already have a general idea of how you want to split the marital estate. Because Florida law contemplates equitable distribution, you can probably plan to receive a fair share of everything you and your spouse own.
While you certainly must be ready to discuss your home, cars, cash and retirement accounts, you probably cannot afford to overlook the intellectual property. After all, the pieces of intellectual property that are part of your marital estate may be some of your more valuable assets.
What is intellectual property?
Intellectual property is a tidy name for intangible assets that come from mental work and creation. This property may include one or more of the following:
- Trade secrets
- Trademarks
- Trade dress
- Patents
- Copyrights
- Industrial designs
Even if something does not have official protection from the U.S. Patent and Trademark Office, it may still constitute intellectual property. Therefore, when preparing for your divorce, it may be advisable to inventory all possible intellectual property. Your inventory is likely to be valuable during settlement negotiations.
How much is your intellectual property worth?
Intellectual property can be exceedingly difficult to appraise, as it often has past, present and future value. Before addressing intellectual property during your divorce, though, you need to know how much it is worth.
Having professionals who understand business, finances, art or other special topics on your divorce team may make sense. Likewise, you probably want to work with a divorce attorney who has experience dividing intellectual property.
Ultimately, by including intellectual property in your divorce settlement, you ensure you do not miss out on the full benefit of the assets you and your soon-to-be ex-spouse acquired during your marriage.
