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?

Answer 1

A company lives through its owners, directors and officers until it is properly terminated. As 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. It 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.

Answer 2

If a company goes out of business and its LLC license expires, it does not directly affect the ownership of the patent. The patent remains an asset of the company, and its ownership may be transferred or assigned to another entity through bankruptcy proceedings, liquidation, or other means. However, it is important to consult with a qualified attorney to understand the specific legal implications in such situations.