by Mark Malek

In parts I and II of this series, we discussed the importance of setting up an IP holding company where all of your IP is held.  We also provided some pretty good examples of the kinds of things that could happen if your IP is not properly titled in your IP holding company, or if you comingle your IP holding company with other assets.  That leads us to this post – a brief overview of the requirements that MUST be followed in order to properly protect your IP and shield it from other liabilities.

As we recommended in our previous post, you should set up an LLC that has the purpose of holding your IP and licensing the IP for use by others.  This can actually be a rather simple process here in Florida.  The website for the Florida Department of State Division of Corporations is sunbiz.org.  The filing forms for setting up your LLC are available for printing or, if you have an account set up already, you can simply electronically file the forms.  As noted, this can be a simple process, but one that is somewhat easy to do improperly as well. When all else fails, seek the advice of an attorney.

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by Mark Malek

In a previous post, we discussed the importance of forming an intellectual property holding company to own your IP.  That previous post established that starting an IP holding company is necessary.  This post will focus on the details.

Talk to any lawyer, and one of their primary goals for their clients is managing their liabilities.  This generally includes separating assets so that liabilities do not cross over.  For example, suppose you own your IP personally, i.e., it is titled in your name personally.  Now imagine that a thief breaks into your house, slips on your floor, sues you for having a slippery floor, and somehow gets a judgment against you (here is a story about a burglar that sued the homeowner that shot him).  What happens if your homeowner’s insurance does not cover the judgment? 

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