What Happens To Your Patent When Your Business Dissolves?
If you own a business and have a patent, you are probably wondering what happens to your business patent after your company is dissolved. After all, your patent is an important part of what you do. If you lose your patent, you might not be able to stay in the same line of business and your entire future could be ruined. Read on to learn about what happens to your patent when your company dissolves.
The patent creator usually assigns the patent to a company. When a business dissolves, the assets of the company are going to be distributed. If your company already had the patent prior to the company being dissolved, then the patent goes back to the original creator.
If you created the patent and registered it and the company was yours, then you will still own it. The patent always stays with the creator always. A simple way to look at it is that a patent is assigned to a person, not a business. The person can then assign their patent to a company or corporation. This turns the patent into an asset of the company. However, if the company dissolves the patent just reverts back to the person who assigned the patent.
Things can get complicated when a company dissolves and there are so many legal matters that have to be attended to. Things can be difficult to sort out which is why you are going to need legal help when your company is being dissolved. You are going to want to make sure that everything works out the way it is supposed to and that you are able to dissolve the company in the right way.
The patent is likely to be a big company asset so it is important that the patent gets taken care of the right way. When you dissolve a company you are going to be going through a difficult process. It is important to make sure that the patent issues are taken care of. When it comes to the patent, you can’t have any ambiguity. You must get the patent back to the proper person once the business is being dissolved.