Authors, inventors, and other individual creators usually know enough to seek IP protection for their works. But all too often, these individuals fail to engage in the necessary business and tax planning to get the most from their works.
For instance, a creator should consider are the many benefits of holding intellectual property through a legal entity (i.e., the creator transfers her copyrights and patent rights to a legal entity in exchange for an ownership interest in the entity). The choice of legal entities include C or S corporations, general or limited partnerships, and a variety of trusts.
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