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  1. #1
    Join Date
    Nov 2005

    Default Patent Ownership

    As a member of an Illinois LLC do I own a percentage or have rights to license IP? When it started I assigned patents to the LLC as an individual however my membership interest is now an LLC. All of the members of the LLC are corporations. So does each corporation have right to license the IP?

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Licensing of IP owned by LLC

    If the intellectual property has been assigned to the LLC, ordinarily any licensing would have to be by the LLC in accord with its operating agreement. (That is, it's not within the discretion of an individual member to license the property, unless the operating agreemeent provides for such autonomy, it's a 'single member LLC', etc.)

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