Estate planning often focuses on tangible assets – homes,
bank accounts, and personal belongings. For business owners or
creative professionals, it is worth considering how intangible
assets, such as intellectual property, are treated.
Trademark Basics
Trademarks are a type of intellectual property governed by the
federal Trademarks Act. They may be owned, transferred,
and licensed.
Failure to plan for the transfer or ongoing management of
trademarks can result in loss of goodwill associated with a
business, abandonment of the mark, and confusion among
beneficiaries.
Estate Planning: What to Consider
An estate plan with one or more trademarks should consider the
following:
