Saturday, January 7, 2017
Prenups for IP
From Professor Orly Lobel (San Diego), writing for the New York Times:
The recent report that a growing number of millennials are signing prenuptial agreements to divide their intellectual property in advance is unsurprising. Our most intimate relationships – marriages – are, in addition to many other things, high-stake contracts.
It would be great if this particular kind of contract could always last forever, sustained by pure love, but that proves not to be the reality for many couples. Prenups are a contingency plan.
That millennials are focusing on the future value of their talents — rather than on current salaries, real-estate and personal property — makes perfect sense in an age when intellectual property is so highly valued. Employers increasingly require employees to sign away all future ideas and opportunities to compete with the company and divorcing partners too hope to keep these assets in case of a breakup.
Read more here.