When you sit down to talk property division with your spouse, you might run into some hiccups. Discussion about who gets the house and car can be difficult, but thanks to real estate resources and blue book estimates, you can feel fairly confident that the value you two discuss is a known factor.
When it comes to making those decisions around intellectual property, you may need different tools.
Reasons that IP is valuable
As the World Intellectual Property Organization details, one of the main sources of value for IP is its exclusivity. You have the rights to publishing your novel, licensing your logo or divulging in trade secrets. Nobody else has these rights. If they want them, they pay you.
Resources to value your IP in a divorce
One method of valuing IP is the income method. Receipts and earning reports are good documentation to have to show that your IP has earned a certain amount.
Appraisers are another tool in determine an IP’s value. They have the training to look at similar IPs using the market and cost methods of IP valuation. By comparing your IP to another, they can help determine your IP’s value that way.
Documentation and expertise play a huge role when evaluating IP to determine its past, present and future worth. Once you determine its value, you and your spouse can discuss how to divide it fairly between you two.
Whatever you and your spouse decide, it is important to personalize your family transition in a way that may make things clearer and easier.