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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 36940
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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Presently I have a for-profit corporation that sells Christian

Resolved Question:

Presently I have a for-profit corporation that sells Christian books and DVDs that I have written and developed. I own the copyrights and trademark for these items. I want to form a 501-3c and make all of these items available through the corporation. I do not need info on the basics for starting a 501-3c but rather about my retaining ownership of the intellectual property. I am not expecting to receive any royalties but only a designated salary set by the board of directors. I want to make the books and DVDs exclusively available for sell and be distribution by the 501-3c and all funds go into the corporation. Is there a way to do this. I see many other Christian ministries out there selling books and tapes and I am sure that some of these authors are retaining copyrights. Can I develop some contract or agreement in the corporation.
Submitted: 1 year ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 1 year ago.

Thank you for your question. Please permit me to assist you with your concerns.

The only way to retain copyright is for the non-profit to essentially contract with the 'for profit' or with you directly and create a contract where the intellectual property is not fully transferred but is instead licensed to the new non-profit for use. That would allow you to keep the rights (as they would never be transferred to the non-profit) and retain the ability utilize the intellectual property for your needs, Anything else, any sort of a formal transfer into a new non-profit would act as a means of sending the assets to the entity and not to you, which would then deprive you of the rights. Really, a licensing scheme is probably the most ideal in rights retention.

Good luck.

Customer: replied 1 year ago.

I am not sure if you are getting this... I got a bit confused with the website.


The main thing I am trying to do is remove the conflict of interest when the corporation asks for donations to translate, develop and promote the intellectual property that I am not benefiting from the sell of the same. I want the funds received from donations as well funds that come in from the sell of the intellectual property to all go into the not-for profit and not to me. I will be a salaried person since I will be doing seminars and such for the non-profit. Will what you have suggested accomplish this?

Expert:  Dimitry K., Esq. replied 1 year ago.

Thank you for your follow-up.

Then I am not quite seeing what you are trying to accomplish. To be clear you want to retain rights to intellectual property while not having a conflict of interest with an entity who will actually be disseminating the intellectual property based on donation. Then if you continue ownership of the intellectual property there will also be a potential conflict of interest. Either transfer your rights to the non-profit outright and then take a salaried position within the entity, or transfer your rights completely to a new 'for-profit' entity, then have that entity contract with the non-profit over licensing the rights. But if you want to keep your rights while working for the entity, that won't be legally possible.

Good luck.

Customer: replied 1 year ago.

If I transfer all rights to the non-profit and become a salaried employee and then years later the corporation is dissolved for some reason, who then gets the ownership of the intellectual property?

Expert:  Dimitry K., Esq. replied 1 year ago.

If you transfer all rights to the non-profit, then creditors if any get the rights to the intellectual property. Otherwise the non-profit prior to dissolution could itself choose to transfer the rights to someone else, be it an individual or a different business entity.

Good luck.

Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 36940
Experience: Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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