Creative and inventive individuals who get divorced may be surprised to learn that the products of their creativity are considered part of the asset division process in Illinois. Just as physical property must be assessed and divided, intellectual property must be valued and split between spouses as well. Read on to learn more about how intellectual property is handled in an Illinois divorce, and then call an attorney with experience in high-asset and complex divorce who can help.
What is Intellectual Property?
Intellectual property is a term that describes intangible (nonphysical) assets that are owned by a person or a company and cannot be used without the owner’s permission. Intellectual property rights are covered by laws that provide legal protection to products of human creativity, just as real property rights are protected. Examples of intellectual property include:
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Patents, copyrights, and trademarks
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