Michael Steger的动态

1 个月

What Does Your IP Contract Say: Read the Fine Print!! The allocation of rights and obligations between the parties to any intellectual property contract starts with the language of the agreement. Make sure you understand what it says #intellectualproperty #trademarks #copyrights #intellectualpropertylawyer #videosocials #contracts

Transcript

I am Mike Stager, I'm a trademark and copyright attorney. Sometimes it's top of these videos. I have some stick, but we're going to skip that today because it's October. October is one of my favorite months. Why is the weather's good? Baseball playoffs, football is in full swing, Basketball seasons about to start. You got Halloween at the end of the month. Peanut butter cups, best candy ever invented. And my birthday is in October, so no stick. What I'm going to talk about today is an issue that repeatedly comes up in my practice dealing with intellectual property. And that is what does a contract say? So I had a call last week. From somebody who created some intellectual property for a client. Client didn't pay. And pay the full amount of the contract and the the. Party calling me said, you know, do we still own it? And the answer, we still own the IP or does it go to our customer even though the customer didn't pay the full amount of contract? The answer is it depends, depends what language is in the contract. And when you've got transfers of intellectual property assets through a contract, you need to be really precise about who's going to own what, when the assets are transferred and what conditions have to be satisfied if the assets are either going to be transferred or withheld. This is the kind of situation where you don't want to rely on some contract that you got from the Internet or something that was laying around in a file somewhere. You need to be very precise. Similarly, I see all the time contracts that say we're going to give you something under a license. If you declare bankruptcy, then we automatically get everything back. The problem is when the other party declares bankruptcy, the bankruptcy court is going to determine who owns what. It's not necessarily going to be governed by what's in the contract. 80% of those provisions that I see are not properly written in various contracts. So the key take away here is if you're transferring IP ownership, if it's important to either you or your customer, probably both of you, you need to be precise. You need to be clear and make sure you understand what is being transferred Northside and who is going to own what. I'm Mike Stager. I'm a trademark and copyright attorney. If you've got any questions about your contract that deal with intellectual property, give me a call.

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