If I am creating a piece of intellectual property and wish to divide equity or ownership of it between multiple individuals, how would I go about doing that?

I want to do this without forming a controlling company. What would the contract look like?

Asked on July 1, 2014 under Business Law, Texas

Answers:

Shawn Jackson / The Jackson Law Firm, P.C.

Answered 6 years ago | Contributor

Well, first, the will depend upon the type of intellectual property you are creationg...second, you will want to decide if you or "all of you" will own and/or have rights to the intellectual property in the event that you and the "others", at some time in the future, are no longer Playing Nice with each other. Keep in mind that about 20% of the problems in these types of situations occur when the money is less than everyone expected...and about 60% of the time, problems occur when the money is better than what everyone expected...so, determine your goals and your "fail safe" positions...and contact the attorney of your choice...which for most intellectual property can be in any State.

Shawn Jackson California Business Development Attorney 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.