quincy
Senior Member
Asked before and answered. You cannot levy or use a writ of execution for intellectual property.... is the intellectual property and other intangibles fair game to get in a post judgement writ of execution?
Asked before and answered. You cannot levy or use a writ of execution for intellectual property.... is the intellectual property and other intangibles fair game to get in a post judgement writ of execution?
No.I want to take ownership of the company sort of how a bank may take ownership of a car, boat,house, plane,etc.... in which money has been loan and payments have been missed. Is that in the realm of possibilities?
You'll have to confer with a FL attorney who handles enforcement of judgment. However, at a minimum, it depends on whether you're talking about copyrights, patents or something else. Both copyrights and patents are creations of federal law, so there is interplay between federal and state law when you try to levy/garnish those things.is the intellectual property and other intangibles fair game to get in a post judgement writ of execution?
The Debtor will not even show up to court. I don't want to just sell the Intellectual property, I want to be the owner of it. Is there a way to ask for this with the courts?You could request that the court appoint a receiver to acquire and sell the intellectual property, this if the debtor will not voluntarily transfer his rights in his IP to satisfy the debt.
You asked this earlier and you already got an answer. Please discuss this with a local attorney that specializes in collection in the debtor's state.The Debtor will not even show up to court. I don't want to just sell the Intellectual property, I want to be the owner of it. Is there a way to ask for this with the courts?
So the company itself is not considered to be an asset of the company? So I would need a judgement against the company owner for that to happen is what you are saying?You cannot use the judgment to take ownership of the company like you can to take company assets like a car or bank account because the company is owned by other people or entities. So unless you have a judgment against those persons or entities you cannot take what they own to satisfy your judgment. For example, suppose you have a judgment against XYZ corporation. XYZ's sole shareholder is John Smith. John Smith is thus the owner of XYZ Corp. You don't have a judgment against John Smith. So you can't take the stock John Smith has in XYZ Corp because you need a judgment against John Smith to reach his assets, which includes his stock in XYZ Corp.
Now, if the company were to go into Chapter 11 bankruptcy or receivership it may be possible for the creditors to gain control of the corporation or LLC, but those proceedings can be expensive and time consuming and often not worthwhile to do when it's just a fairly small company involved. So for the most part you take the assets of the company that you can fairly easily reach without a lot of expense and then you may just have to give up on the rest. It sucks when that happens, and it happens a lot with small businesses, but that's the practical reality of it.
What the answer then?You asked this earlier and you already got an answer. Please discuss this with a local attorney that specializes in collection in the debtor's state.
I have received 2 different conflicting answers. I received your answer that you don't think it can be considered and I also received from the user taxing mattersAsked before and answered. You cannot levy or use a writ of execution for intellectual property.
How much are you owed?The Debtor will not even show up to court. I don't want to just sell the Intellectual property, I want to be the owner of it. Is there a way to ask for this with the courts?
The company is an asset of the owners of the company.So the company itself is not considered to be an asset of the company?
I am trying to levy/garnish the copyrights and patents. Since you are saying they are a creation federal not state law.No.
You'll have to confer with a FL attorney who handles enforcement of judgment. However, at a minimum, it depends on whether you're talking about copyrights, patents or something else. Both copyrights and patents are creations of federal law, so there is interplay between federal and state law when you try to levy/garnish those things.
These are from the 18th century, about 140 years old. Is this information still relevant? There are supreme court rulings now that are different from the 1990'sTwo cases for review:
Ager v Murray, 105 US 126 (1881):
https://caselaw.findlaw.com/us-supreme-court/105/126.html
Peterson v Sheriff of San Francisco, 115 Cal 211 (1896):
https://cite.case.law/cal/115/211/
These cases address what is necessary if a creditor wishes to satisfy a judgment through an assignment of rights in a debtor’s IP.
https://legal-dictionary.thefreedictionary.com/executionAny type of Personal Property is subject to seizure under an execution, provided existing laws do not prescribe specific exemptions. Such property may include jewelry, money, and stocks. In most states, real property, including land, is also subject to execution. Intellectual Property, which includes Patents, copyrights, and Trademarks, is generally immune to execution. An execution on a judgment is typically issued by the clerk of the court in which the judgment was rendered. The clerk cannot issue an execution unless directed to do so by the judgment creditor or the judgment creditor's attorney. The time within which an execution must issue varies from one jurisdiction to another. The writ must be delivered to the sheriff or his or her deputy before it can properly be said that the writ has been issued.
Ask.In my situation, the company owes a very large amount via my Judgement and has dissolved. Perhaps that is a situation in which you can levy the Intellectual property?