Q: Are food recipes considered a marital asset if used in a business.
I came up with the recipes and started a salsa company with my husband. The LLC and company logo are in his name and any contracts with stores, manufacturers and distributors are in my name. Since I came up with the recipes myself after years of trial and error can these be considered martial property in our divorce?
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A: In a divorce, all assets acquired during the marriage are generally considered marital property, regardless of who came up with the idea or made the initial investment. This includes any intellectual property, such as recipes, that were developed during the marriage and used in a business. However, the specific laws and regulations regarding marital property vary by state, and it may be possible to negotiate a different arrangement with your spouse during the divorce proceedings. It is important to consult with a qualified divorce attorney to understand your legal rights and options.
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