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.
