Will my patent be protected if I file for bankruptcy?

In a Chapter 7 bankruptcy case you can keep only the property that you can exempt. If the value of your share of he patent is more than you can exempt then your share will belong to the bankruptcy estate upon filing and the trustee can sell it to pay the creditors even if your co-owner does not want to sell. Your partner will receive his share of the value of the patent from the forced sale. Your co-owner might be able to buy your share from the trustee. You need to value the patent and determine what exemptions are available to you to protect your share. That might not be easy but it is important that you have an appraisal of the patent made and be ready to prove its value. If your share is worth a lot of money and you cannot exempt it then maybe filing a Chapter 7 is not a good idea. In Chapter 13 you may pay the unexempt value of your share of the patent to the trustee in a Chapter 13 Plan over a period of up to five years. That might be an option if your debts are more than the unexempt value of your share of the patent. However, if the value of the patent increases after you file a Chapter 13 case, you might have to pay more in the Plan or lose your share of the patent and convert to Chapter 7. You need to meet with an experienced bankruptcy attorney after you obtain an appraisal of the patent and have a list of all your debts, property and income. It does not matter that you have not officially assigned it to a company although the value of the patent might be more easily determined if you had a buyer or a company interested in it.

It depends on more facts than you have provided here - you should consult with a bankruptcy attorney to be sure.