In today’s digital economy, intellectual property is a valuable asset for many businesses. Therefore, when it comes to a divorce financial settlement, who owns intellectual property can result in disputes.
How RVS Solicitors Can Help You to Achieve a Fair Divorce Settlement
At RVS Solicitors, our team of family lawyers, led by Rakhi Singal, will ensure your best interests are protected when it comes to dividing intellectual property rights in a divorce settlement. As divorce lawyers with years of experience, we understand how to structure negotiations so that certain intellectual property rights you wish to retain are treated as pre-marital assets or are passed to you as part of the settlement.
Our ethos is designed around focusing 100% on our clients and the objectives they wish to achieve. Rather than leave you wondering about how your case is progressing, we will provide you access to a client portal that allows you to access facts relating to your matter’s development.
We understand that in today’s digital/creative world, intellectual property rights need to be viewed the same as other business assets such as shares, trade secrets, and equipment. By instructing us, you can be confident that your rights will be examined and carefully protected during divorce proceedings.
- Child Arrangement
- Fathers Rights
- Consent Orders
- Divorce Property Settlement
- Spousal Maintenace
- Postnuptial Agreements
- International Divorce
- Do I have to disclose my intellectual property assets during the divorce process?
- How will the Court decide on dividing IP assets in a divorce?
Frequently Asked Questions (FAQS)
Do I have to disclose my intellectual property assets during the divorce process?
It is a fundamental principle of English family law that both parties make a full and frank disclosure of their monies and assets before the divorce financial settlement is negotiated. This includes non-tangible assets such as intellectual property. Therefore, if you have a registered trademark, patent or design right or own copyrighted material, you need to let your spouse and/or their legal representative know.
How will the Court decide on dividing IP assets in a divorce?
The Court will look at the factors listed under section 25 of the Matrimonial Causes Act 1973 when deciding how to divide property for the purposes of a divorce financial settlement. In most cases, the person with who the trademark, patent or design right is registered, or who owns the copyright, will be awarded the IP rights. Any value attached to those rights will be offset by other assets. For example, the wife might get to keep the rights to the patent on a highly valuable app, and in exchange, the husband is awarded a greater share of the house.
Our family law team will partner with IP law experts when advising on these types of disputes. This area of law is extremely complex and involves domestic and international legal rights and law. By working with the best in the field, we can assure you of receiving the most up-to-date and qualified family law advice and representation.