Does Your Estate Plan Need to Worry About Intellectual Property in Florida

Intellectual property, commonly abbreviated as IP, is a type of property that’s very different from what most people think about when they think about the stuff they own. Unlike tangible property or money, intellectual property exists solely as a function of laws that recognize its existence. If you are developing an estate plan you probably want to know at least a little bit about what intellectual property in Florida is, how you obtain it, and why you might need to plan for it. Patents A patent is a type of intellectual property that applies to inventions. When someone invents a new product, procedure, or process, they can submit a patent application to the United States Patent and Trademark Office, or USPTO. After a review process, the USPTO decides to grant or deny the patent application. If it grants the application, the inventor receives a patent in that invention. A patent allows the inventor the exclusive right to use, manufacture, license, or sell the patented invention. Pa


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