Passing the Brand: Incorporating Trademarks and Copyrights into Your Succession Plan

Imagine you’ve spent years building a recognizable brand, a distinctive logo, a catchy tagline, and unique products that set your company apart. Now picture what happens if your succession plan transfers ownership but overlooks the trademarks and copyrights that define your business identity. Without clear direction, these intangible assets can become tangled in probate or lost in the shuffle. We’ve seen clients protect real estate and equipment yet leave their brand legacy unguarded. Let’s explore how to weave trademarks and copyrights into your succession strategy so your brand endures.

Understanding Trademarks and Copyrights in Your Brand

Trademarks cover names, logos, and slogans that distinguish your goods or services from competitors. Copyrights protect original works such as brochures, website content, and marketing materials. Both are key components of your business’s value and reputation and are often referred to as intellectual property. Failing to address your intellectual property can result in messy ownership transfers and potential infringement by third parties. By treating these intangibles as core business property, you ensure that heirs or successors receive the full business package and brand that you have built.

Why Intellectual Property Matters in Succession Planning

In a typical succession plan, we focus on share transfers, buy‑sell agreements, and asset valuations. Yet, brands often carry more goodwill than physical assets. A trademark that’s not reassigned can lapse, leaving your successors unable to stop imitators. A copyrighted training manual left out of your trust could end up orphaned in probate. Integrating safeguards for your brand and intellectual property prevents these pitfalls, preserves revenue streams, and maintains customer trust.

Integrating Intellectual Property into Your Estate and Business Plan

First, compile an intellectual property inventory. List all registered trademarks and pending applications, as well as copyrighted materials and renewal dates. Next, update your operating agreement or buy‑sell agreement to explicitly assign these assets to your chosen beneficiary or trust. Coordinate with your will or revocable trust to mirror those assignments, ensuring consistency across documents. Finally, notify your successor and key advisors—accountants, business managers, and family members—so everyone knows where to find the registrations and renewal schedules.

Practical Steps for Protecting Your Creative Assets

We recommend these actionable steps:

• Review USPTO records to confirm current trademark status and note each mark’s renewal deadline (every ten years with a maintenance filing at years 5–6).
• Gather evidence of use—labels, packaging samples, and advertising—so successors can defend your mark.
• List copyrights in your estate planning worksheet as part of your intellectual property inventory (no renewal needed under current law).
• Include trademarks (and your broader intellectual property portfolio) as a line item in your business valuation to reflect its true worth.

Each step translates into fewer surprises and smoother ownership transitions.

Partnering with a Tulsa Business Law and Estate Planning Attorney

Navigating both business law and estate planning requires coordinated experience and guidance. We help local business owners in Tulsa and Broken Arrow align their succession documents so trademarks, copyrights, and traditional assets pass seamlessly. From drafting amendments or restatements to existing agreements to creating a specialized intellectual property trust, we guide you through every detail.

Securing Your Brand’s Next Chapter

Remember, your brand is more than a name. It’s a legacy built on recognition, trust, and creative effort. By incorporating trademarks and copyrights into your succession plan today, you ensure that legacy thrives for generations. If you’re ready to protect your brand’s future, we’re here to help. Simply schedule an appointment with us by clicking here or call (918) 608 1836 to get started.