What Is a Utility Patent? A utility patent covers the development of new or improved products, processes, or equipment preventing others from using them without a license or permission. A utility patent is often known as a patent for innovation. It prevents others from creating, using, or selling the invention […]
Legal Terms
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What Is a Pour-Over Will? A Pour Over Will is a special type of last will and testament used in conjunction with a trust-based estate plan. A pour-over will is simply used to direct any assets that have not been funded into your revocable living trust to go there after […]
What Is a Liquidator? A liquidator is a specialist who administers the winding up of a company, paying off creditors and distributing the remainder to shareholders. In general terms, it refers to a person or entity that liquidates something—usually assets. Assets are liquidated by selling them on the open market […]
What Is a Branded Title Auto? A branded title identifies a vehicle that has sustained damage due to causes like accidents, flooding, odometer tampering, etc. Once a brand has been assigned to a car’s title, it cannot be removed by repair, no matter how thorough. A branded title indicates that […]
What Is a Hold Harmless Agreement? A hold harmless agreement is a legal document or clause stating that one party will not hold the other liable for damage, injury, or loss. As a result, this type of agreement shields individuals and companies against potential litigation. It requires the persons with […]
What Is Cestui Que Vie? Cestui Que Vie is the person for whom a benefit exists and whose life measures the duration of a trust, gift, estate, or insurance contract. The term, Cestui que vie is French for “he who lives“. It is a legal term for a person who […]