Estate Law
Jacqueline Skay | Jacqueline Skay Estate and Trust Law
Q. What happens if I don't plan my estate?
Close your eyes and think about who you want to receive your assets when you die. Did you think of probate attorneys, a clerk of the superior court, a probate referee and your local newspaper? Probably not. But that is what happens if you fail to plan for your death or incapacity.
Via a time consuming process, many people and institutions you would not have chosen receive a significant percentage of your estate. Costs of 8 percent and delays of 18 months are not uncommon.
Further, if you do not plan, your "heirs-at-law” are chosen for you, defined by statute. These are the people you might choose yourself: your spouse and next of kin. But often, it's not that simple. Most families have "issues." It may be that one of the heirs is still a minor, or is married to someone who is irresponsible with money or is on disability.
All of these "issues" are best addressed by you in advance, when you are able to decide who should manage your assets and how they should be distributed when you are no longer here.
In California, the most common method of addressing these issues is a revocable trust and related documents, such as a power of attorney, advance health care directive and pour-over will. These documents are also usually the best insurance your business is properly conducted if you become incapacitated due to a car accident, stroke, or otherwise.
Skay can be reached at [email protected]
INTELLECTUAL PROPERTY LAW
Michelle Herrera | McKenna Long & Aldridge, LLP
Q. I own my own business, and I want to protect inventions and ideas that I have come up with on my own from being used by competitors. What can I do?
You want to protect what is referred to as "intellectual property": inventions, trademarks, literary or artistic works and trade secrets.
A patent protects an invention, things that are made or the processes and procedures that go into making them. Manufacturing equipment or a computer software program, for example, might be the subject of a patent. Patents are issued by the U.S. Patent & Trademark Office, and are subject to strict legal requirements. A patent precludes all others from using your invention for a limited period of time.
A trademark is a word, phrase, symbol or design that identifies and distinguishes the source of your product. Product names, slogans and designs are often trademarked. Like patents, trademarks are regulated by the USPTO and are subject to strict legal requirements. A registered trademark provides a legal presumption of ownership and the right to exclude others from using it.
A copyright protects works of authorship and art. Song lyrics are often copyrighted, as are books. Product brochures and website content may also be copyrighted. Copyrights are regulated by the U.S. Copyright Office. Registration is not necessary, but is recommended because it creates legal presumptions about ownership, and permits you to file a lawsuit in court for copyright infringement.
A trade secret is any type of information that derives economic value from not being known to the public. A manufacturing process or a customer list might be a trade secret. You must undertake reasonable efforts to maintain the confidentiality of your trade secrets, such as confidentiality agreements and limiting access to the information within your company. Under California law, you may pursue damages from someone suspected of stealing or disclosing your trade secrets.
Protecting your intellectual property on the front end, through registration and confidentiality practices, will go a long way in helping you vindicate your rights down the road.
Herrera can be reached at [email protected]
This column gives you the opportunity to tap into the expertise of attorneys who are members of the Carlsbad Chamber of Commerce. If you'd like to submit a question for consideration, send it to [email protected]. The responses provided in the article are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. A response in this article by an attorney does not create an attorney-client relationship between the attorney and the reader. The opinions expressed at or through this article are the opinions of the individual author and may not reflect the opinions of the Chamber, its employees, agents, directors or members
, Lee Sterling, guest editor
Jacqueline Skay | Jacqueline Skay Estate and Trust Law
Q. What happens if I don't plan my estate?
Close your eyes and think about who you want to receive your assets when you die. Did you think of probate attorneys, a clerk of the superior court, a probate referee and your local newspaper? Probably not. But that is what happens if you fail to plan for your death or incapacity.
Via a time consuming process, many people and institutions you would not have chosen receive a significant percentage of your estate. Costs of 8 percent and delays of 18 months are not uncommon.
Further, if you do not plan, your "heirs-at-law” are chosen for you, defined by statute. These are the people you might choose yourself: your spouse and next of kin. But often, it's not that simple. Most families have "issues." It may be that one of the heirs is still a minor, or is married to someone who is irresponsible with money or is on disability.
All of these "issues" are best addressed by you in advance, when you are able to decide who should manage your assets and how they should be distributed when you are no longer here.
In California, the most common method of addressing these issues is a revocable trust and related documents, such as a power of attorney, advance health care directive and pour-over will. These documents are also usually the best insurance your business is properly conducted if you become incapacitated due to a car accident, stroke, or otherwise.
Skay can be reached at [email protected]
INTELLECTUAL PROPERTY LAW
Michelle Herrera | McKenna Long & Aldridge, LLP
Q. I own my own business, and I want to protect inventions and ideas that I have come up with on my own from being used by competitors. What can I do?
You want to protect what is referred to as "intellectual property": inventions, trademarks, literary or artistic works and trade secrets.
A patent protects an invention, things that are made or the processes and procedures that go into making them. Manufacturing equipment or a computer software program, for example, might be the subject of a patent. Patents are issued by the U.S. Patent & Trademark Office, and are subject to strict legal requirements. A patent precludes all others from using your invention for a limited period of time.
A trademark is a word, phrase, symbol or design that identifies and distinguishes the source of your product. Product names, slogans and designs are often trademarked. Like patents, trademarks are regulated by the USPTO and are subject to strict legal requirements. A registered trademark provides a legal presumption of ownership and the right to exclude others from using it.
A copyright protects works of authorship and art. Song lyrics are often copyrighted, as are books. Product brochures and website content may also be copyrighted. Copyrights are regulated by the U.S. Copyright Office. Registration is not necessary, but is recommended because it creates legal presumptions about ownership, and permits you to file a lawsuit in court for copyright infringement.
A trade secret is any type of information that derives economic value from not being known to the public. A manufacturing process or a customer list might be a trade secret. You must undertake reasonable efforts to maintain the confidentiality of your trade secrets, such as confidentiality agreements and limiting access to the information within your company. Under California law, you may pursue damages from someone suspected of stealing or disclosing your trade secrets.
Protecting your intellectual property on the front end, through registration and confidentiality practices, will go a long way in helping you vindicate your rights down the road.
Herrera can be reached at [email protected]
This column gives you the opportunity to tap into the expertise of attorneys who are members of the Carlsbad Chamber of Commerce. If you'd like to submit a question for consideration, send it to [email protected]. The responses provided in the article are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. A response in this article by an attorney does not create an attorney-client relationship between the attorney and the reader. The opinions expressed at or through this article are the opinions of the individual author and may not reflect the opinions of the Chamber, its employees, agents, directors or members
, Lee Sterling, guest editor