The licensing and efficient structuring of Intellectual Property (IP) and Royalty Rights is a very important consideration for international entrepreneurs, sports stars, entertainers, models and performers.
Given the potentially short period of earning opportunity and the increasingly complex nature of the international entertainment, media and sports industries, it is essential to tailor a solution that will maximize the earnings potential from personal image rights, appearance and performance fees, sponsorships and endorsements and the licensing of trademarks, publications and recordings etc.
A structure should also be forward looking to ensure accumulated wealth is protected and to provide for a desired standard of lifestyle.
Cavendish Trust has a wealth of experience managing bespoke international IP and royalty structures, including cooperation with Cypriot or Irish entities, should double taxation treaty planning be required.
The benefits offered by the Isle of Man for IP and patent structures are:
- The Isle of Man does not have its own register for Patents. Instead, it falls under the UK register, as the principle terms of the UK Patents Act 1977 extend to the Isle of Man. This eases administration and removes re-registration concerns, should a patent be moved to the Isle of Man.
- As with Patents, the Isle of Man does not have its own register for Trade Marks. Instead, registration is affected via the Trade Mark Registry, which is part of the UK Intellectual Property Office. Again, the principle terms of the UK legislation, the Trade Marks Act 1994, apply to the Isle of Man, which eases administration and removes re-registration requirements concerns, should a patent be moved to the Isle of Man.
- Although the Isle of Man is not part of the EU, the Community Trade Mark is recognised and protected in the Isle of Man. The Community Trade Mark system facilitates one single registration process to achieve EU wide rights (if granted).
- The Isle of Man is part of the Madrid Protocol, resulting in a streamlined process for registration of a brand through the EU.
- No withholding tax is levied on royalty payments.
Please contact either of the following members of our team with any intellectual property, patent and royalty right enquiries: