If a company owns a patent then what happens to the patent if the company goes bankrupt?
A patent is treated as an item of property just like any other. So when a company goes bankrupt, it is up to the receivers/liquidators to sell off all assets, like buildings, cars, patents; belonging to the bankrupt company. If the patent is not sold in this way then it defaults to the state (in the UK at least). In most countries annual renewal fees are payable for patents (although they are less frequent in the US) so it's important to maintain these otherwise the patent will expire and be of no value.
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The "bankruptcy" of an insurance company is referred to as "insolvency". It is roughly defined as the financial inability to pay claims as they accrue. As a condition of becoming authorized (licensed) to transact insurance business in the company's state of domicile, it is required to pay a porti…on of its income into the insurance guaranty association of the state. This is essentially a state-administered pool of funds which is used to pay claims (although not always in full) when an insurer becomes insolvent. Important to note is that only authorized (licensed) insurers are required to participate in and pay into guaranty associations, and therefore, only when you have a policy issued by an authorized insurer, do you have the chance to participate in the guaranty fund if the need arises. It is therefore important that you ensure that you are ensured by a licensed insured and not by a phony one. Illegal insurers crop up periodically, especially during periods of hard insurance markets, which tend to be cyclical. That said, there is an alternative market of insurance which is quite legitimate, but which is not covered by guaranty associations. This is the surplus lines market. It caters to often unusual risks that are not able to be insured in the more customary market. Most states have Surplus Lines Offices which offer some level of regulation to this market, but it is far less than for the authorized market. When a licensed insurer becomes insolvent, a Receiver is appointed in the domicile state to administer its and to run the company. Ancillary receiverships may be established in other states where the insurer did business. Assets are marshalled, a date is set for policy coverage to end, and decisions are made as to whether the company is susceptible to rehabilitation or whether it must be liquidated. Claims are handled in as orderly a fashion as possible, with priorities assigned to claims of various types laid out by statute. Time limits are set by which claims must be filed with the Receiver, and if they are not they are barred. (MORE)
If a patent is assigned to a company and then that company goes out of business and their LLC license expires what happens to the patent?
Defunct company with property is still a "company" . A company lives through its owners, directors and officers until it is properly terminated.\n. \nAs long as there is still company property, the company is still "in business," for the purpose of paying taxes and other debts, and disposing of …surplus property, even if its charter has expired. In other words, it cannot enter into any new business, but must finish all of its old business before disbanding for good. \n. \nIt would be up to the officers or directors (if any) or the members (if any) or else a court to determine where the patent ownership ends up. (MORE)
First you must light the candle created from the wax of a demon. Then you recite the ancient summoning call. It can't be written down so I'll write it backwards, "Obba dooba woooba scooba flooba ooz" You will then be confronted by the legendary patent king who will grant you three patents but you mu…st in return give him your SOUL! (MORE)
Can you obtain an invention patent for the light cellular concrete Isn't it a common material now How can a company obtain the patent and then sue every other producer in the countrty it happens in Ro?
Answer . I don't know what light celluar concrete is, but I do know that you cannot patent something that's already public. A patent for intellectual property is good for 20 years. Once the 20 years is up it's public knowledge.. Answer . OOPS...I think I meant "utility " patent.
A number of things can happen: If the company closes, the stock would normally just become worthless and that's it. Useless paper. The stockholders can take the loss as a deduction (within certain limits). If the BK is more of a reorganization...and some debtors agree...they may actually take the ex…isiting, (or newly issued stock) in the corporation as payment for their claims. It is possible, although not common, when this happens that the exisiting stock remains to have some value, cetainly much, much less than before, for those original stockholders. Generally, the company closes and the assets are sold to satisfy the debts as best they can, or the entire company is essentially purchased by the creditors in exchange for the debts they are owed - again the old stockholders have no liability but have no stock of value. (It wouldn't be right to have a creditor accept less than all they are owed, while a stockholder maintains anything of value (which stock is) in that same company. Whatever that value represented by that stock...it should be used to pay the debt of the company first). (MORE)
Which companies would own the patent rights for marijuana production-distribution if marijuana were ever to be legalized?
NEW ANSWER BY ANASTASIARAE'S SOURCE: Marlboro owns the patent to distribute the leagalized sale of marijuana ciggerettes, like a ciggerette pack but full of little "joints." That's one of them.. However, if someone invented or improved upon marijuana or its administration, or improved upon a proces…s for the production or distribution of marijuana, then that party could apply for patent rights to that new development.. Here is an example of a development along this line:. http://www.freepatentsonline.com/6132762.html . NEW ANSWER BY BAYKCUPCAKES: . Actually, Jason King talks about this in the CANNABIBLE 2. Apparently, most major pharmacutical companies (I believe I recall hearing specifically about Johnson & Johnson) already have pending patents for certain strains of marijuana in case it ever becomes legalized. Plus if marijuana was to become legalized (which is very different than decriminalized) than it would most likely be for medicinal purposes, in which case it makes perfect sense that those companies would try and own the rights. However, nobody should be allowed to own strains of plants (yes, now you can only get certain strains from certain growers who possess them through various reasons like hybridization or cross genetics, however these people dont legally own those plants and they shouldn't) That would be like American Apparel owning the rights to the cotton plant. Anyway.... in the words of Peter Tosh, "Legalize it, yeah, and I will advertise it....". I think it wuld be rediculous if any company could patent any kind of naturally grown plant, if any other chemicals were to be added then i can see that (MORE)
When a company goes bankrupt this means that it has more expensesthan profits that they are taking in. It also means that they cango in front of a court to determine if they can receive forgivenessfor some of the debts that they owe to their creditors.
http://piurl.com/2Nh is a link to an article giving the answer. Teri is the company but there is also another pharma company involved.
In all probability you will have lost any upfront premiums and any pending claims won't be paid. You try contacting the receivers if you have a pending claim. If you are lucky a company might buy the failed company in which case your insurance agreement should be continued.
In the case of a company bankruptcy, the judge will either order the intellectual property sold like any other tangible asset or will assign it to one of the debtor parties. The recent closing of Circuit City offers a case-in-point. Although the online shop and all the brick and mortar stores were …closed the trademarked name, domain name, and other intellectual property was purchased by SystemMax (Tiger Direct) for 5.5 m (USD). (MORE)
It all depends on the proceedings in the bankruptcy court, the amount of assets to be re-organized or liquidated, what kind of bankruptcy, and the kind of stock you are talking about.. No one can effectively answer this question without more specifics from you.
This will be a case by case basis. Your vacation time may be paidif the company is reorganizing after bankruptcy. However, there isno guarantee, especially if the company is closing its doors.
Employees may get paid depending on what type of bankruptcy thecompany is filing. Sometimes they file for reorganization andemployees will get paid. Sometimes the company closes and no onegets paid.
They are almost always included as the value of their stock which is owned by the paret is an asset available to creditors.
Let's use an example to illustrate. I own a certain Putnam Growth Fund. That growth fund is set up legally as it's own independent company separate from Putnam Holdings in order to protect it. That growth fund, as it's own company, gives parts of it's profits to Putnam Holdings for advertising, nami…ng rights, research, guidance, management, etc. If Putnam Holdings went bankrupt, as a shareholder in the Putnam fund you have not lost anything except for the Putnam name, and it's talent that runs the fund. The mutual fund you own would still exist as a separate company and as a group you could hire a new manager or board to oversee the stocks. It has to be run this way because the Secruities act of 1940 says so. Putnam is like a bowl that holds mutual fund fruit. If the bowl shatters, the fruit is still tasty and sweet (but maybe bruised a bit). It can be put in a new bowl or sit on the floor rotting. (MORE)
If a life insurance company goes bankrupt or becomes insolvent, thelife insurance policyholder may be protected by the life insuranceguaranty fund in their state, if the life insurance company was alicensed insurer in the state. Guaranty funds usually provide from$100,000 to $500,000 of protection p…er policy, but many statesprovide up to $300,000 of protection. The National Organization ofLife and Health Guaranty Associations provides information on thespecific state rules as to the protection afforded to lifeinsurance policyholders in a particular state. You can visit theirsite at www.nolhga.com and look up State Guaranty Laws to determinethe coverage that may apply to you, and further research thistopic. Before declaring bankruptcy or insolvency before thecompetent Court, they are to meet up the liabilities of theirsundry creditors and policy holders whose maturity payments havebecome due, to the full satisfaction of the Hon'ble Court of thecountry. (MORE)
To you, just about nothing. Your loan, as an asset of the company, will be taken over (or sold by the trustee) to a creditor or another to provide the funds to pay the Cos debts. (The loan probably already has been sold many times, you don't know it). Loans are financial instruments and bought and s…old all the time. If you are behind in payments, you can expect the creditors and the court to become much more interested in having you get paid up to date, and increase collection actions...once again so those funds due to the BK company can be received and used to pay the debt of the company. If anything, under the purview and power of the court, with lots of interested parties who will get paid by it, your compliance with the loan agreement is if anything, much more closely looked at. (MORE)
well there are a lot who hold them but i think that they would car manufacturers like ford and GMC. Food distributors might too.. well there are a lot who hold them but i think that they would car manufacturers like ford and GMC. Food distributors might too.
Well, in reality yes, although perhaps not on time.. Payroll is held in very high regard and the Court and generally even the creditors do everything possible to make sure all employees are paid for their work as quickly and easily as possible. Normally, there is no delay...and the larger the compa…ny, the more true that is. Somethings, like accrued sick time, or bonuses, or very high earnings may be lost or held up with the resolution of the case. (MORE)
There is no hard and fast rule and what happens to a company, and/or its' employees runs the entire spectrum of possibilities. from nothing to losing employment, to losing benefits, to getting better ones of all, to working for a division that closes, or is sold, but maybe sold to someone who wants …to keep the Operations and is a better employer, or a worse one and is going to blens that division with one of its own...goes on and on. (MORE)
The things it is invested in are separate from the company administering it...the $ are in those assets (stocks/funds) and will simply be transferred to whoever looks after them in the future.
Same as before...their BK makes no difference to you, except now the court and creditors are interested in making sure payments are made as they get or get to sell that asset.
Answer to this question is "Basmati rice". For more info got through this link http://www.rediff.com/money/2001/aug/21rice.htm
Because they can no longer pay their creditors...AKA company is not worth the money they borrowed.
In virtually all cases the stock is made worthless. It may exxentially be taken and used as payment to those creditors that the company can't pay...basically saying that for the debt they had, they bought the company....maybe with their resources (read - money), they can refloat the company and even…tually sell the stock to recover the loss.. Understand that stock represents ownership...equity...it participates in the earnings of the company... but the amount of loss a company has is limited to a stockholder to the amount of his investment...the creditors can't come to the stockholders and demand payment for the debt (which they can in say a proprietorship or partnership...the "owners" are personaly liable for the business debts). Hence, any interest or rights you have in the Co are usually lost, or taken by the creditors, since they aren't getting paid what they were owed. Anything else would be unfair.. In a C-7 the company dissolves and the stock disappears. If the sale of the assets of the company provide more money than is needed to pay all the debts, the excess is returned to stockholders...this rarely happens. (MORE)
What happens is the put writer gets hosed. If a company goes into Chapter 7 bankruptcy, all its stock becomes worthless. Unfortunately for the people who wrote put options on the company's stock, those do NOT become worthless. If the put buyer decides to exercise the option - and he will - the writ…er has to buy all those shares of worthless stock at the strike price. (MORE)
They go down. Dummy.. ans . Generally, almost always, common stock is worth nothing, in exchange for the Co it represents equity in not paying all it's obligations to crediors. You have negative value...you (the owmer of a company) owe more than you are worth.
unless it is written off by the court, it does. I would assume that it would be listed as debt by the party going bankrupt.
All of your efforts to collect MUST stop by law. (That is the first and most basic protection the debtor gets by filing BK...protection from creditors). You should file a "proof of claim" form with the BK court, (you'll likely receive correspondence on how to do so), and become part of the process. …The debt will be paid along with all others of the same class...and depending on the BK may be pennies (or nothing) on the dollar. Any not paid is legally dismissed by the court. (MORE)
If a company bought your patent and did nothing with it running out of money is the patent your again?
No - Patents are property. If one sells a patent outright, one ceases to have any ownersip of that patent.
Only for very limited and certain types of debts....like trust funds or something lost because of fraud, or of course, if you signed for it personally.
Usually a private company does not issue stock, or else it would be classified as a public company. In either case you would lose whatever value you had in the company.
Different countries and jurisdictions have different legal definitions of bankruptcy for a corporation, but most countries employ one or a combination of the following: . Cash flow bankruptcy , where a corporation is unable to pay its debts as they fall due. . Balance sheet bankruptc y , where …the corporation's assets are worth less than its liabilities. . Technical bankruptcy , where a corporation is deemed to be bankrupt regardless of its true financial position, eg. because it failed to pay a judgment debt or (in some jurisdictions) pay a statutory demand for money, or formally admitted or filed for bankruptcy. Even within these definitions, different jurisdictions treat aspects in different ways. For example, in some countries prospective or contingent debts are relevant to determining bankruptcy, and in others they are not. Similarly, some countries require assets to be valued on a market value basis, whereas others are entitled to rely upon book value. (MORE)
A leadholder-type pencil that the company called the "Stop Gauge" Pencil. There were 2 patents in 1879: number 213,569, issued on March 25, and number 215,521, issued on May 20. Both were issued to Joseph Hoffman.
I had a patent approved while working for my former company. Can I use the patent after I leave the company?
It depends on the employment contract you may have had with your previous employer. Some stipulate that anything you invent or develop while in their employment become their property. On the other hand - if your invention had nothing to do with your employment, and it was something you developed awa…y from company property and on your own time, you may have a perfectly valid sole claim to it. (MORE)
Generally, when an insurance company goes bankrupt, the guarantees that are being offered on the contract are gone. For instance, if you have a death benefit, or a income guarantee, those will usually be lost. As for the money you've invested in the variable annuity, if your money is invested in the… sub-accounts (the various investments that are usually managed by mutual fund management whose names you will usually recognize), that money is still being managed by those companies, and is separate from the now bankrupt insurance company. That is the long way of saying, your money in the sub accounts is safe. However, if you have money in the fixed interest account, that is usually held by the insurance company, and that money may be in jeopardy. (MORE)
Legal Advantage has had reliable results for us for a few years now, we mostly deal with medical devices,depending on your space you may get a different results.
You would have to call the company and tell them about your invention. Try to asure them you came up with it yourself.
The current patent holder is Military Police Systems, Inc., who purchased the patents from Maxwell Atchisson in the late 1980s.
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlike…ly that the warranty will remain in force. (MORE)
To give you an answer with any meaning, we need model, finish and condition. You question right now is sort of like "I have a Ford V-8 truck- what is it worth?" Good questions= good answers- please repost with some information, and we'll do our best.
Intellectual property can be transferred in the same way as real property, and should be addressed in bankruptcy proceedings. Unfortunately, more often the copyrights are simply forgotten, creating "orphan works," for which there is no provision in the law.
There is no current patent on paracetamol; that's why it's produced by so many companies.
Logos do need to be patented if one wants to make sure that no other company can use it. A company's logo is essential to it's success, so it is best to have it protected.
If the business is not a separate legal entity like a corporation, it is treated as an asset of the person filing bankruptcy and will probably end. If the business is a separate legal entity, it may file for chapter 7, in which case it likely will be liquidated and should be formally terminated in… the state it was incorporated in. If it files for a chapter 11, it may be headed for liquidation, especially if it is a small corporation. Larger corporations may try to restructure its debt in different ways, from converting debt to shares to selling off assets for funds to become current on nondischargeable debts to ending union or other contracts and lower liability for employee retirement obligations. The business may then be discharged from the bankruptcy and continue operating as a meaner, leaner business, but the stockholders will have lost their entire investment and will no longer be stockholders of that company. (MORE)
The best company for patent licensing help is one that has extensive experience in patent licensing. The best would also have experience in the specific product. ICAP Patent Brokerage is a very popular company that provides this service.
Several companies offer patent translations services but may differentiate themselves according to industry classification. Well regarded companies include Morningside Translations, Wolfestone and EPO who all work with Fortune 500 companies.
In March 2013 Apple paid 10 million dollar to license the Palm smartphone patents. The license is currently hold by Access Co. and includes technology developed by Bell Communications Resaerch and Geoworks.
One can find information for the United States Patent company on various websites like USPTO and Wikipedia. Both websites offer a great amount of information for all kinds of things, including for the United Sates Patent company.
French-Italian company STMicroelectronics, makers of electronics and semiconductors, currently holds the primary MEMS patents. Additionally the company which is headquartered in Geneva, Switzerland, was honored in 2013 with Company, Executive and Device of the year.