Among the goals a person who is soon to be married may have for a prenuptial agreement is to protect certain assets in the event a divorce happens. Now, when it comes to the types of assets such contracts can protect, one’s mind might go to physical assets like accounts, businesses or real estate. However, prenups could also be used to protect ideas.
Specifically, a person’s ideas could be protected in a prenup though including terms related to intellectual property. Such property includes things like copyrights, patents, trademarks and trade secrets.
It appears that the idea protection potential of prenups is something that might be catching the attention of younger marrying individuals. A recent news article pointed out that intellectual property protection is something that millennials might be particularly interested in when it comes to such agreements. Survey data has pointed to prenups growing increasingly popular among this age group in recent times.
As with physical assets, what ends up happening in relation to issues regarding intellectual property in a divorce can have major implications for the divorcing parties. This includes impacts on their financial future. Also, such property can have a lot of unique issues connected to it in a divorce. So, when such property is addressed in prenup, what terms and approaches are used can matter a lot.
Given this, whatever a person’s age, when they are looking to include intellectual property terms in a prenuptial agreement, they may want a skilled lawyer’s guidance on what kinds of terms and language would help with their goals for protecting their ideas.