Copyright Exchange

Types of Exchanges

Build to Suit Exchange Business Asset Exchange Copyright Exchange Delayed Exchange Improvement Exchange Intellectual Property Like-Kind Exchange Multi Asset Exchange Parking Arrangement Partnership Exchange Patent Exchange Personal Property Property Owned by Foreign National Property Owned Overseas Reverse Exchange Tenant Common Exchange Vacation or Personal Use Property Exchange

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Exchanges of Copyrights

Intellectual property has become tremendously important in recent years. Some of the most important assets for many public and private companies are intellectual assets such as patents, trade secrets, copyrights, trademarks and software. For many internet companies, their most important assets are their domain names and Web content.

A work of authorship such as a song, poem, book, computer software, sound recording, painting, architectural drawing or movie is entitled to copyright protection if the work is fixed in a tangible medium, independently created by the author, and contains a modicum of creativity. These include: Literary works; Musical works, including any accompanying words; Pantomimes and choreographic works; Pictorial, graphic and sculptural works; Motion pictures and other audio visual works; Sound recordings and Architectural works

Copyrights are exchangeable under federal tax law. These assets are exchanged pursuant to federal tax regulation.
Treasury Regulation 1.1031(a)-2(c)(1) has a two part test for determining whether an exchange of intangible property qualifies as a like-kind exchange.

The first part depends on whether the nature or character of the rights involved (e.g., a patent or copyright) are similar. The second part depends on the nature or character of the underlying property to which the intangible personal property relates. The Intangible Regulation goes on to provide two contrasting examples. The first is that a copyright on one novel is like-kind to the copyright on another novel. The second example is that a copyright on a novel is not like-kind to a copyright on a song.

Depend upon Strategic Property Exchanges LLC and our Board Certified Tax Attorneys to guide you through your exchanges of intellectual property.

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