Legal Question in Intellectual Property in Missouri
possible patent dispute
My partner and I formed an LLC and have filed for a utility patent that has not yet been granted. She wants to sell her half of the business to me but wants rights to future revenues from our jointly developed product. Do I have to pay her a portion of our future products sales if she is no longer a partner in the company but still has her name on the pending patent?
1 Answer from Attorneys
Re: possible patent dispute
Do you have an operating agreement with your partner that describes future revenue of the business if a partner leaves the LLC? Her "half" of the business may include a value associated with future revenues - it all depends on your agreement. I would need to discuss with you your situation in further detail to provide you with more information.
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