By Jaclin Cassios, Christine N. Dimitrov, and Rebecca Nokleby
Published on Dentons, January 28th, 2025
In today’s digital age, our lives are increasingly intertwined with assets called “intellectual property” (IP). IP refers to creations of the mind and includes literary, artistic, dramatic or musical works, inventions, logos and other creations that have legal protection as an intangible asset.
IP comes with legal rights known as IP rights. Three of the main types of IP rights in Canada are copyrights, patents and trademarks.
When it comes to estate planning, it is crucial to consider how your IP will be handled after your death. This article will discuss three of the main types of IP rights in Canada and explore why having a will is essential for dealing with IP after death and for safeguarding IP assets for future generations.
By consulting a professional, you can be confident that your IP assets will be protected, managed and distributed according to your wishes, providing for your heirs and preserving your legacy.
In Canada, copyright generally lasts for the life of the author, plus 70 years after the end of the year of the author’s death. Accordingly, for about 70 years following death, beneficiaries of the copyright control the use of the copyrighted works and benefit from publishing or licensing agreements related to the copyrighted works.
When drafting your will, it is best practice to ensure the same individual is the beneficiary of the IP asset, such as a painting, and the IP right, such as the publishing and licensing rights. Though this is not required, it prevents disputes over the use and licensing of the IP. Further, copyright assignments do not extend more than 25 years after your death, at which time the copyright returns to your estate. If you want an assignment made during your lifetime to extend beyond the 25 years after your death, you must include this in your will.
