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LawTalk
LawTalk, Attorney
Category: Bankruptcy Law
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Experience:  I have more than 25 years of experience in the practice of law.
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What rights does the bankruptcy trustee have to a patent

Customer Question

What rights does the bankruptcy trustee have to a patent that is issued after the initial filing?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  LawTalk replied 2 years ago.
Good morning,
I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.
So long as an asset---be it a patent with monetary value or an insurance settlement is received during the pendency of a bankruptcy and before the receipt of a discharge, the asset is subject to being taken by the trustee to satisfy creditor claims.
Notice of receipt of the patent would have to be communicated to the trustee. Here is a scholarly article on patents and their interaction with bankruptcy proceedings:
http://apps.americanbar.org/buslaw/blt/2008-07-08/pak.shtml
You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.
Kindly, remember to rate my service to you. That is how I am credited for assisting you.
I wish you and yours the best in 2015,
Doug