Legal Question in Bankruptcy in Florida

Is My Copyright Considered an Asset?

I'm self employed. My income is derived solely through my website and a book I have authored. The book is copyrighted. I'm assuming this copyright would be considered an asset by the trustee. What happens in this situation if I file Chapter 7? Is this asset turned over? How is the value of this determined? Would it be sold at a trustee sale? Losing this completely eliminates my income earning potential. I'm quite concerned, to say the least.

I have no other assets that can be attached, as far as I know. No investment properties, no bank accounts, etc.


Asked on 9/12/03, 1:20 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Is My Copyright Considered an Asset?

If, under Florida law, you are a head of household, and the income can be defined as salary then there is a chance the asset may be retained. If not the asset becomes the property of the trustee to be liqidated in the Ch 7 proceding. Have you considered a Ch 13?

Prtior to any filing, you should consult with a competent bankruptcy attorney.

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Answered on 9/12/03, 2:37 pm


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