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Monday, August 23, 2010

Teitell: Patent Granted for Charitable Borrowing, Elimination of Obligation to Repay

Conrad Teitell (Cummings & Lockwood, Stamford, CT), Charities Borrowing and Then Eliminating Obligation to Repay Principal -- Patent Granted, in Conrad Teitell’s Taxwise Giving:

United States Patent 7,620,593 (Nov. 17, 2009).

The claimed benefit. A method for (1) enabling a qualified charity to raise or borrow capital that is required for a planned project; and (2) subsequently eliminating the obligation to repay the trust principal.

http://taxprof.typepad.com/taxprof_blog/2010/08/teitell-patent-granted.html

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