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Ownership of patent vs. corporation and divorce
Posted by . updated on 4/27/2009
I hold several patents in my name for successful children's products, items that I personally invented. I own a company with my husband and his brother which sells the products. The brother has 40% ownership, my husband and I own the other 60% (or 30% each). The company averages about $100,000 per mo profit from selling the products that I invented. Now my husband is seeking to divorce me, and with his brother has made threats to override me on every decision (because they state, between them, they have 70% ownership). I have informed them that as part of the divorce settlement, I want 51% ownership, or I will sell the patents. My husband's brother said that even though the patents are in my name, since the company paid for them, I cannot sell them, and cannot use a proposed sale as any leverage against my husband or his brother, or they will simply get an injunction against me to stop the sale. I never signed anything saying the company owned the patents. Where do I stand?
Answers (4)
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Daniel ...
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I hate to say it, but you definitely need to talk to an attorney. And, NOT in the public forum.
Anything that is posted in public would not be protected by an attorney-client privilege and could be used against you in the future.
So, I am not going to tell you where you stand legally, but will only mention that based on the facts that you presented, you have a strong position. However, the facts are not always what they seem at first glance. This needs to be studied in full detail before attempting to provide any legal opinion.
Sorry for not being more forthcoming.
Daniel Basov
Solton Rosen & Balakhovsky LLP
110 Wall Street, 11th floor,
New York, NY 10005
212-344-1744
daniel.basov@srblaw.net
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Florenc...
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Hi: This issue revolves around the equitable distribution area of divorce law, business corporation law and license and patent law. While your inquiry states the patents were secured in your name, I do not know whether there are any additional documents on behalf of the coporation to provide it an express or implied license, etc. It is important that you speak directly with an attorney that is well versed in divorce law, business coporations law and patent law so that you will have some idea where you stand and what action should be taken. Good Luck
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Alexand...
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It seems that the company has an at will license to use your patents. You should be able to enforce your ownership rights in the patents. I urge you consult with competent counsel to determine your rights and to prevent infringements on your patents.
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Michael...
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I would think you are in a fairly strong position. You should obtain knowledgable counsel for the negotiations and divorce.
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