Nominee vs Successor

 

IP too is subjected to inheritance. One may bequeath to Trust or via Will to its beneficiary Successors or if intestate, then proceeded via Succession act or if part of employment, then irrelevant as the company/firm owns it unless entered into with any special employment provisions. Other ways of transferring rights are through mortgage, license, assignment. And if co-owners, then it’s an undivided right, unless any agreement contrary in force; and rights which further cannot be shared or assigned by either one unless taken consent of the other. 

 

Succession in its entirety isn’t my domain, of course. But this blog is restricted to discussing nominee vs inheritor (successor) when it comes to estate. And IP can be considered as a part of estate too. If the owner appoints someone as nominee without Will, then basically the said entity is the caretaker of the estate on behalf of the original inheritors & Not being the inheritor itself, under purview of Succession. So let’s say, one has been taking care of an estate & of owner, for 25 years & was appointed as nominee only, then that means that said entity is no more than a caretaker or representative of that estate or owner. And as, being nominee alone, cannot dissolve someone else’s rights acquired through Succession; even if such successors never cared about the owner or estate for let’s say as given as an example above, for 25 years. Which maybe ethically wrong!🙁

 

© Pranav Chaturvedi