So why is the standard will, drafted by a general attorney, insufficient to properly transfer patent and trademark ownership?

It comes down to three legal concepts:

1. Bequest vs. Assignment: A will can bequeath (give) property, but patent, registered trademark, and registered copyright transfer require a specific Assignment Document filed with the USPTO or the Copyright Office. Without the specific authority granted to the executor or a named successor to file that document, the transfer can be delayed or rejected. Worse, if the executor or heir doesn’t know the assignment document needs to be filed, the ownership is stuck in legal limbo.

2. The LLC Operating Agreement (and Partnership Agreements and Corporation Bylaws): These are the documents that truly dictate the fate of a business. If the IP is owned by the LLC, the Operating Agreement dictates what happens with the IP upon your death. Specifically, it determines who inherits your share of the company and its assets. The will cannot override the Operating Agreement. If that agreement is silent, your heirs could be forced into a partnership with people they don't know, or worse, the business could be legally dissolved. These principles apply to partnership agreements and corporation bylaws as well.

3. The License: If you own the IP personally and license it to your business or another business, who inherits the rights to the IP when you die? Does the license provide that your heirs inherit it, does it say the management of renewal transfer to the licensee and your heir just receives royalties, or does it state that the IP ownership will transfer to the licensee? If the license rights go to your heirs, will they know how to manage the IP properly, and will they be willing to renew the license as needed? The license needs to address these issues so the IP ends up in the right hands.

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com.

I’m Julie King, a licensed attorney in Champaign-Urbana, Illinois, and I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe if you haven’t already!

You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

Thank you for tuning in. Stay legally sharp, and keep rocking your IP!

#patent #trademark #copyright #intellectualproperty #businesstips #estateplanning #successionplanning

Let’s look at the specific risks of poor intellectual property succession planning. These are the ghosts of your assets that haunt your legacy if you fail to plan properly.

1. The Patent Ghost: Missing the Clock. The executor of your estate is managing property taxes, house sales, and who gets the valuable coin collection; they are most likely not automatically tracking USPTO patent maintenance fee deadlines, which occur at the 4th, 8th, and 12th year. If those deadlines are missed, the patent is dead, and its value is zero. If the executor fails to file the proper ownership transfer documents, the legal right to its benefits remains in purgatory.

2. The Trademark Ghost: Competitor Capture. Your heirs might be grieving and not well-versed in handling a trademark. If they fail to file the necessary maintenance and renewal documents showing continued use in commerce, the USPTO will cancel the registration, and if the mark hasn’t been used in commerce for at least three years, your biggest competitor can simply step in and register the abandoned mark.

3. The Trade Secret Ghost: This one is the fastest killer. If the documents securing your trade secrets (like NDAs or internal protocols) are not enforced by the executor, or if they don't even know where they are, the secret can be compromised or simply lost. Either way means its value is lost forever.

4. The Business Ghost: If you own the patent or trademark as an individual, license it to your business as an LLC or corporation (because you are doing that and not being sloppy about that kind of important business asset), and only address the IP in your will, you create massive confusion. If an heir who doesn’t know how to maintain the IP properly or who hates your business partners gets your IP, your business will have a serious problem. Without clear documents, the business often gets tied up in court for years.

I dive into the specifics of succession plans in other episodes this week, so check them out and stay tuned for the sequels!

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com.

I’m Julie King, a licensed attorney in Champaign-Urbana, Illinois, and I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe if you haven’t already!

You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

Thank you for tuning in. Stay legally sharp, and keep rocking your IP!

#patent #trademark #copyright #intellectualproperty #businesstips #estateplanning #successionplanning

Most people think of their IP like a regular asset that upon their death will either transfer automatically or be handled easily by the executor of their estate. But IP is different. IP is a tricky beast.

The biggest, most terrifying difference is this: Patents and trademarks are time-sensitive, living assets that require active maintenance and use to survive and special documents to transfer ownership.

• A patent is a 20-year legal monopoly. Renewal fees are due three times during those 20 years. If your executor doesn't know the exact schedule and misses one maintenance fee payment, that patent is permanently dead and immediately enters the public domain. The clock is heartless; it does not stop for probate, and ignorance is no defense.

• A trademark can be perpetual, but only if it's used, and a registration’s lifespan depends on both use and filing renewal documents along with fees. If your heir inherits the mark but fails to continue using it in commerce for the goods and services listed, the law presumes the mark has been abandoned, and if they don’t file the renewal documents and pay the fees, the USPTO will cancel the registration.

I'll dive into the specifics of succession plans in future episodes, so stay tuned for the sequels!

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com.

I’m Julie King, a licensed attorney in Champaign-Urbana, Illinois, and I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe if you haven’t already!

You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

Thank you for tuning in. Stay legally sharp, and keep rocking your IP!

#patent #trademark #copyright #intellectualproperty #businesstips #estateplanning #successionplanning

You spend years, effort, and serious money, often tens of thousands of dollars, to create a valuable intellectual property empire. You secure those priceless patents, register those robust trademarks, protect your valuable copyrights, and lock down those precious trade secrets. You’ve built an IP asset portfolio designed to generate income for years, even decades.

But here is the true terror: When you're gone, does that empire continue to generate value for your heirs or business partners, or does it become a worthless liability? We're talking about The True Terror of Poor Planning.

Hello, and welcome back to Spellbinding IP: Patent, Trademark, and Business Strategy, the show that helps you build a brand so strong, it survives its own sequel.

The thesis today is simple, yet alarming: A standard will and skimpy business operation documents can be a death sentence for your most valuable intellectual property. If you haven't taken specific legal steps to address the unique life cycle of your patents and trademarks, your competitors could inherit them before your family or business does.

Let's dive into how intellectual property can end up in the legal graveyard and how you can prevent that.

In this episode:

• I. Introduction: The Unattended Asset (0:00)
• II. Intellectual Property vs. General Estate or Business Assets: The Terrifying Difference at Death (1:19)
• III. The Four Ghosts of Poor Intellectual Property Succession Planning (2:38)
• 1. The Patent Ghost (2:50)
  2. The Trademark Ghost (3:23)
  3. The Trade Secret Ghost (3:49)
  4. The Business Ghost (4:13)
• IV. Your Legal Epitaph: Why the Standard Will Fails Your Intellectual Property Legacy (4:48)
• V. Stopping the Terror of Poor Planning of Intellectual Property Succession (7:00)

If you are serious about protecting the assets you've worked so hard for, don't let the True Terror of Poor Planning define your legacy.

I'll dive into the specifics of those LLC agreements and succession plans in future episodes, so stay tuned for the sequels!

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com.

I’m Julie King, a licensed attorney in Champaign-Urbana, Illinois, and I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe if you haven’t already!

You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

Thank you for tuning in. Stay legally sharp, and keep rocking your IP!

#patent #trademark #copyright #intellectualproperty #businesstips #estateplanning #successionplanning

A King Patent Law, PLLC Guide to Avoiding the Potentially Fatal Flaws of DIY and Online Services

November is a great time to be thankful for the assets you've built, and a smart business owner knows that the intellectual property (IP) protecting their unique creations is one of the most valuable assets of all.

But once you've invented that brilliant gadget or coined that killer brand name, who do you hire to protect it? The choices can feel like a maze, full of shadowy corners and false promises. Should you DIY and brave the journey alone? Rely on a map from a cheap online service? Or hire an experienced intellectual property lawyer as your seasoned guide?

The cost difference seems huge upfront, but I’ve spent over 25 years as a lawyer watching that initial savings turn into a financial catastrophe down the road.

I'm Julie King, your rock-and-horror-loving patent attorney. Welcome back to the recently renamed podcast, “Spellbinding IP: Patent, Trademark, and Business Strategy,” formerly “Know Your Rights: Your IP and Business Law Playbook.” While that title entertained me because it’s a Clash song title, it wasn’t so good for reaching people looking for answers to their IP questions, so an SEO-friendly change was needed. Enough of that. Back to the real content!

Today, I’m leading you through that labyrinth of confusing options to show you four specific, high-stakes mistakes that only a licensed attorney can prevent, proving why the cheap path often leads to a worthless asset and spending more in the long run. I’ll also cover how to choose the right lawyer or law firm to help you.

In this episode:

• Part I: The Three Paths to Protection (1:39)
• Part II: The Four Fatal Flaws an Attorney Can Prevent (2:38)
• 1. The Claims Killer: The Fatal Flaws of DIY Patent Language (2:43)
  2. The Trademark Zombie: Why a Bad Search Dooms Your Brand Before It's Born (11:46)
  3. The Copyright Trap: Filing Too Late to Claim Your Full Damages (21:15)
  4. Who Owns the Asset? The IP Time Bomb in Business (24:03)
• Part III: How Do You Find the Right Intellectual Property Professional? (26:04)
• Conclusion: Choose Your Guide Wisely (30:17)

You can't afford to treat your valuable assets like a low-budget horror flick. Choosing your IP counsel isn't a place to pinch pennies. The money you "save" on a cheap service is often dwarfed by the cost of fixing an application error or, worse, realizing your final patent or trademark is too weak to actually defend your business.

Choose a partner who brings years of the right experience and strategic foresight to the table. Don't let your business's most valuable assets become the victims in a horror story.

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com. I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property. I'm an attorney in Champaign-Urbana, Illinois, and I serve intellectual property clients nationwide.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

#kingpatentlaw #julieking #patent #trademark #copyright #intellectualproperty #businesstips #businesslaw #lawyers

Your U.S. patent is powerful at the border! Even if knockoffs are manufactured and sold freely overseas without you being able to do much about it, your patent gives you the power to stop them from entering the lucrative U.S. market.

The Power Move: You can record your granted U.S. patent (and trademark) with U.S. Customs and Border Protection (CBP). Not all border patrol agents are sweeping through cities and suburbs nabbing people off the street and violently dragging them out of their cars. Some are doing the important job of protecting U.S. commerce from imported goods that violate U.S. patent, trademark, and copyright rights. CBP trains its officers to seize and detain the goods that violate your registered IP rights at the port of entry.

The Impact: This simple filing turns your legal document into an enforcement tool for customs agents, blocking the flow of counterfeit goods and protecting your market share without expensive lawsuits. Unfortunately, it’s impossible to catch every counterfeit product trying to come into the U.S., but it’s better than not even trying.

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com. I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property. I'm an attorney in Champaign-Urbana, Illinois, and I serve intellectual property clients nationwide.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe! You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

#kingpatentlaw #julieking #intellectualproperty #patent

Before you even start manufacturing, you find out your invention would be infringing on another patent. Your freedom-to-operate search revealed a competitor holds a patent on a core component. Now what? Don't Panic. Redesign!

The Choice: You face two options, and only one protects your long-term profit:

1. The Licensing Trap: Buy the patent rights, which can be expensive. Alternatively, pay a royalty to the patent holder for every unit you sell. This creates an ongoing cost and allows a competitor to profit from your success. There’s also no guarantee the patent owner will grant you a license or sell the patent rights to you.

2. A Legal Workaround: Work with your engineers and patent attorney to "design around" the blocking patent. By changing the component's structure, material, or function, you can often achieve the same result without infringing the patent’s claims.

The Lesson: The upfront cost of a redesign may be cheaper than the perpetual cost of a royalty.  Designing your way out of starting an infringement battle is a worthwhile subject to look into.

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com. I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property. I'm an attorney in Champaign-Urbana, Illinois, and I serve intellectual property clients nationwide.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe! You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

#kingpatentlaw #julieking #intellectualproperty #patent #patentinfringement

Here’s the true cost of manufacturing your invention overseas. The minute you send your blueprints to a manufacturer, you introduce a massive risk of intellectual property theft.

The Horror: When an idea is copied overseas, it's virtually impossible for a small business to stop it. Your U.S. patent is powerful here, but useless in their jurisdiction. International patents can help, but they’re really only as good as your ability to pay for lawyers overseas to defend them against infringement. Large corporations can handle that cost far better than small businesses.

Your Defense: The Contract Chains

You must bind your manufacturer with an iron-clad contract that includes:

1. IP assignment clauses explicitly stating all resulting intellectual property belongs to you.

2. Strong non-disclosure clauses (or separate Non-Disclosure Agreements (NDAs)) for everyone involved to protect confidentiality.

3. Audit and termination rights clauses allowing you to inspect their facility and clearly defining penalties for unauthorized production.

Like with international patents, though, the cost of hiring lawyers here or overseas to help you if the manufacturer doesn’t abide by the contract can be significant.

The best protection against the likely problems with overseas manufacturing is to have your invention manufactured in the U.S. Yes, that may be more expensive in terms of manufacturing costs, but what you may save in enforcement costs may be worth it.

Whether you have your product manufactured in the U.S. or overseas, don't start production without legal chains securing your intellectual property, and be prepared to hire lawyers here and overseas to help you enforce these contracts!

Intellectual property is one of the most terrifyingly useful tools you have. If you’re a creator or other entrepreneur ready to build a frighteningly powerful brand and business, you need to know how to use it.

You don't have to face the darkness alone. To learn more about protecting your creations, your name, your business, and your legacy, you can book a consultation with me at kingpatentlaw.com. I help entrepreneurs across the U.S. make smart, legally sound decisions about their intellectual property. I'm an attorney in Champaign-Urbana, Illinois, and I serve intellectual property clients nationwide.

If this episode helped you survive the horror of learning about how to protect and manage your intellectual property and business, please like and subscribe! You can find all of my other frighteningly good content on the King Patent Law website, at "Spellbinding IP: Patent, Trademark, and Business Strategy" on all major podcast platforms, and at @kingpatentlaw on most social media.

The information provided in this episode is for educational purposes only and does not constitute legal advice or form an attorney-client relationship. You should not act on any information presented here without first seeking the counsel of a licensed attorney for your specific legal needs.

#kingpatentlaw #julieking #intellectualproperty #patent #internationalpatents