I am considering converting my business from for-profit to nonprofit. The name is trademarked in my name personally. Will I be able to keep the trademark? I don’t want to lose control after all the work I have done.
The IRS will undoubtedly ask you to assign the trademark to the new nonprofit if you seek charitable exemption. Although some charities operate with the founders holding a trademark, there is an inherent conflict. In addition to the ethical issues, if the charity makes the trademark more valuable, it could cost the charity its exemption because of private inurement.
Sunday, August 13, 2006
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