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Sounds like the company needs to sell the asset to the individual, under the terms of a contract. It can be sold for $1, by the way. As others have said, talk t
by jlgaddis 9y ago
Sounds like the company needs to sell the asset to the individual, under the terms of a contract. It can be sold for $1, by the way. As others have said, talk to an attorney (the company likely already has someone).
- bradstewart 9y agoIt cannot always be sold for $1--the IRS may view the sale as tax evasion if it occurs well below a fair market value. As an example: if the company had two developers working full-time for a year on the IP, the value of that IP should be in the ballpark of those developers salaries. This is not always the case, but a reason you should consult an attorney.