How a Charity Accept Gifts of Copyrights and Related Intangibles?

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Estate Planning Information for Doctor-Donors

[By Children’s Home Society of Florida]

Doctors and other medical professionals are brights folks. Some even have additional degrees and designations like MBA, PhD, CFA, CPA, CFP, CMP, etc. Others hold copyrights, trademarks, servicemarks and patents, etc. Innovators and entrepreneurs, indeed!

So, donors may be surprised to learn that gifts of intellectual property such as copyrights [©], while less common than tangible assets, may nevertheless be valuable and can make wonderful gifts to charity. And, there are some specific considerations that doctors, and other donors and charities should understand when dealing with gifts of copyrights and related intangibles.

For more copyright information, go to http://www.copyright.gov

What is a Copyright?

A copyright is an intangible property right that protects an original artistic or literary work. The protection of copyrights is rooted in the United States Constitution and is among the enumerated powers granted to Congress

Trade Marks and Service Marks

  • A trademark is a word, phrase, symbol or design, or a combination of words, phrases, symbols or designs, that identifies and distinguishes the source of the goods of one party from those of others.
  • A service mark is the same as a trademark, except that it identifies and distinguishes the source of a service rather than a product.

 

Do Trademarks, Copyrights and Patents Protect the Same Things?

No! Trademarks, copyrights and patents all differ. A copyright protects an original artistic or literary work; a patent protects an invention.

For more patent information, go to http://www.uspto.gov/main/patents.htm

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One Response

  1. How Does a Charity Accept a Gift of a Patent?

    Last month’s post above, explained the benefits to charity and donors of the gift of copyrights. This time, we discuss the gift of another form of intellectual property – the gift of a patent.

    As with gifts of copyright, a patent makes an excellent gift to charity. However, there are some specific considerations that donors and charities must keep in mind.

    To view more click here:
    http://www.chslegacy.org/giftlaw/article.jsp?WebID=GL2007-1230&D=201204

    Source: Children’s Home Society of Florida Foundation

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