is a Screenplay an Asset Thank You to All

[PayItForward]

My question involves bankruptcy in the state of: California

Hey Everyone,

I wrote a screenplay that I think I can sell.

Is this an asset? Is it protected in Chapter 7 bankruptcy?

Really appreciate any help and will PAY IT FORWARD.

[adjusterjack]

I wrote a screenplay that I think I can sell.

Then sell it and pay your debts.

Is this an asset? Is it protected in Chapter 7 bankruptcy?

I don't have a "legal" answer for you but common sense tells me it's worth $0 and would not be a factor in your bankruptcy.

Talk to a bankruptcy attorney.

[Taxing Matters]

My question involves bankruptcy in the state of: California
I wrote a screenplay that I think I can sell.

Is this an asset? Is it protected in Chapter 7 bankruptcy?

Yes, a marketable screenplay is an asset. However, unless you already have a track record of selling books/screenplays the value of that asset is probably very low and I doubt the trustee would have any interest in claiming it for the bankrupt estate. You probably want to disclose the screenplay in your bankruptcy disclosures so that if you did strike it big later your creditors could not complain that there was bankruptcy fraud. I suggest you discuss this with your bankruptcy attorney.

[PayItForward]

@Taxing Matters - thanks so much - I'll disclose it - really appreciate your kindness and help

[pg1067]

I wrote a screenplay that I think I can sell.

Is this an asset?

It's technically two different assets. The copyright that you own is an asset, and the physical copy of the screenplay (whether on paper or in digital form) is also an asset.

Is it protected in Chapter 7 bankruptcy?

Protected from what? I'm honestly not sure what you mean by this. If you believe this asset potentially has value, then it ought to be disclosed on your schedules. Most likely, the trustee will abandon the copyright back to you.