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Millennials increasingly seek to protect intellectual property in prenuptial agreements, P.2

In our last post, we began looking at the growing trend among young married couples of including provisions addressing intellectual property in prenuptial agreements. It makes sense that we would see such a trend, given the kind of businesses young entrepreneurs have been creating in recent years. Protecting potentially lucrative business ideas is no small matter.

Interestingly, the potentially lucrative intellectual property young Millennials are increasingly seeking to protect does not always exist at the time a prenuptial agreement is struck. In many cases, individuals use prenuptial agreements to protect intellectual property or businesses that they plan to or may establish in the future, but have not yet established. 

Attorneys working in this area say that protecting future intellectual property or businesses is not always easy, since it presents the challenge of valuing the intellectual asset in question. It isn’t always clear how that should be done, and it’s difficult to put a value on something that hasn’t taken form yet.

Young people who are preparing for marriage and who hope to protect their intellectual assets should, of course, always work with an experienced attorney to receive guidance in negotiating the agreement. Failure to craft a favorable prenuptial agreement doesn’t do one any good, and may just create more expenses in divorce, so it is important to get these agreements right on the front end.

A skilled family law attorney can help ensure that a client’s interests are represented in the agreement, that the language of the agreement is carefully crafted to protect those interests and that the client understands the implications of the terms of the agreement. 

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