Butler Giraudo & Meister
Peoria 309-407-3332
Morton 309-263-1204

Division of marital property may include IP assets

One of the most stressful aspects of a divorce in Illinois is determining how to divide assets. This is especially true if the two individuals cannot see eye to eye when it comes to the division of marital property. One type of asset that is often neglected is the intellectual property, or IP, asset.

It is critical at the beginning of the divorce process to consider all marital assets, which include IP assets. After all, these assets may be necessary to support one's future investment and financial growth following divorce. IP assets in particular may also help with generating income.

A wide range of IP assets may exist in a marriage, ranging from trade secrets and copyrights to software and trademarks. Other types of IP assets include patents. These assets can be hard to value, but an industry expert can help to appraise them appropriately during the divorce proceeding. Identifying and valuing IP assets is particularly critical if one of the spouses going through divorce is the founder of a high-tech company.

If two individuals in Illinois are able to find some common ground when dealing with the division of marital property, they may be able to take advantage of a collaborative divorce or mediation, which may lead to a settlement of which both parties approve. These are alternatives to divorce litigation, which can be costlier and more stressful. With proper legal guidance during the mediation or negotiation process, people may feel more in control of the divorce process and more confident about advocating for themselves. This, in turn, may help them devise transition plans for the next chapters of their lives.

Source: bizjournals.com, "How to determine the value of intellectual property in divorce cases", Efrat Kasznik, May 23, 2016

No Comments

Leave a comment
Comment Information
  • I cannot even express in words the level of gratitude that I feel. ‘Thank you’ doesn't seem to be enough. Please know that your services and compassion will never be forgotten! I am forever grateful!

  • Thank you so much for your hard work and expertise. I feel as a father in the state of Illinois that what I am trying to achieve is nearly impossible. I am so glad I chose to have your office full of extremely intelligent women represent me.

  • We would like to say thank you for your expertise, education, and kindness when we met with you! Your confidence has helped to comfort us and give us hope that resolution of the issue is possible.

  • I just wanted to say thank you from the bottom of my heart for all your time, energy, and efforts you put into our case. Thank you for helping make our son's quality of life better. I cannot tell you how happy we are!

More Testimonials
Contact Us Today

Contact Our Lawyers About All Areas Of Family Law

We are driven and committed to a successful outcome for all of our clients. To arrange a consultation with attorney Susan Butler, Kelly Giraudo or Tamara Meister, call 309-263-1204 (Morton) or 309-407-3332 (Peoria). You can also contact our law firm by filling out the form below. With offices in both Peoria and Morton, we work hard for our clients while getting to know them as people.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Morton Office
100 S. Main Street
Morton, IL 61550

Toll Free: 888-314-9667
Phone: 309-263-1204
Morton Law Office Map

Peoria Office
416 Main Street
Commerce Bank Building
Suite 927
Peoria, IL 61602

Toll Free: 888-314-9667
Phone: 309-407-3332
Peoria Law Office Map

Morton Office Peoria Office