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#1 |
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A patent is being filed on which my child is a co-inventor.
Assuming the patent is granted in a few years, she will still be a minor. What rights does a parent have to license the patent on behalf of the child? (assuming the child is not able to sign contracts or negotatiate terms). Does the parent just act as an agent for the child? If so, does 100% of the royalty income go the child, or can the parent claim some reasonable % for acting as the child's agent? Can the parent "force" the child to turn over the child's rights to the patent to a trust where the child is the beneficiary? This might be a way to prevent the kid from getting hands directly on lots of money the day they turn 18. Thanks! |
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#2 |
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You stand in for the child basically and make the decisions with him/her. But if the child or some third party thinks unfair acts or wrongdoing is occurring, the court can intervene.
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