Depending on the type of bankruptcy that a company files for, they may be given a few different options for how they can continue to operate throughout the proceedings. For many Iowa companies, filing for bankruptcy is a solution to abolish pressing debts and hopefully reach an agreement with creditors where operations can continue if contingencies are met in a timely manner.
Intellectual property (IP) is an important way Iowa authors, business owners, artists and inventors generate their income. In fact, IP may even provide a living for relatives of an intellectual property owner, which is why if you own a copyright, a patent or any IP, you should include it in your estate plan. You can choose who you want to receive your intellectual property rights so that your heirs can profit from the IP.