Intellectual Property encompasses resources and property caused by creative idea such as designs, copyright material, patents and trademarks. IP represents a 90 percent of the value of the world’s top 2000 companies. Be this as it may, less than 5 percent of inventions are leaving billions of dollars worth of IP assets. The development of a knowledge economy and globalization has emphasized the importance of intellectual property rights, thereby placing the requirement for IP management. Big multinationals esteem IP as a strategic advantage instead of merely an instrument that is legal, and it follows that the SMEs that are most prosperous are now seeing the need. This involves administering the IP assets themselves and protecting, but also by using the legal and financial purposes of property integrating IP into creation, growth plans and business models. IP management can be split into three task areas – IP exploitation, portfolio management and creation support. The exploitation of tasks that are associated and IP has tax consequences which optimized and must be addressed.
Tax implications
SMEs can use the exact strategies that have been employed for several years by companies, which consist of localizing their IP resources in low-tax jurisdictions such as customer lists, brands and patents. Is a process and can offer important benefits if properly handled, locating or relocating assets.
Steps to take
When customers contact me regarding how best to adapt to the current economic climate, search for ways for their companies to extract the most value in the existing intellectual property protection singapore assets of the business by leveraging those resources. In addition, we work to identify opportunities for them encourage their efforts to locate clients for their IP in business sectors that are unrelated and to extract value from outside their business. The importance of registering and protecting designs, patents, trademarks and copyrights cannot be emphasized enough. Whether it is a trade mark filed with the Trade Marks and Designs Registration Office of the European Union OHIM, together with the Organization or with the US Department of Commerce, Patents and Trademark Office USPTO, the defense and subsequent licensing of IP assets is important to any modern firm’s success and development.
Encourage all the clients and readers to analyze their company to determine if there are undervalued IP resources which they may shield, sell and/or permit from a jurisdiction. Jurisdictions like Cyprus offer solutions for that purpose. No tax is withheld on royalties payable to a firm when the right is granted for use away from the Republic to a Cyprus thing. Another solution is to set up a Mauritius company that is appropriate. Intellectual property rights play a crucial role in giving a lead in a Marketplace to businesses, and IP is the future’s company asset