“US trademark filings jumped 27.5% in 2021 and there is now a backlog of 544,000 unscreened semesters. First action forecast is about 7.8 months and sale forecast to 12.8 months.” Please know we are doing our best to resolve this issue ,” He said [USPTO Director Kathi Vidal]. “
Understanding tax issues is increasingly important to trademark practitioners, and a new report from the International Trademark Association (INTA) covering the European Union, Switzerland and the United Kingdom aims to help them do just that.
“Report on taxation of trademarks and complementary rights in Europe” was disclosed at 144And INTA Annual Live+ Meeting held in Washington, D.C. and online from April 30 to May 3. There were more than 6,700 registrants from 130 countries.
Tax considerations for trademark practitioners
The report guides readers through the key tax considerations in the brand cycle (creation/acquisition, operation, and transfer) and also explains key tax-related terms.
In the section on Exploitation and Marketing, the report explains three common models—the owner’s use model, the licensing model, and the master model—and discusses tax implications, location considerations, and distribution methods. “Evaluation.
With brands becoming increasingly important at the center of business value, tax regulators are paying more attention to the location and management of intellectual property rights, explained Jeff Maruits, Head of Client Services. Tax Subcommittee. : “Tax systems seek to assess where companies are making profits and getting a share of the profits in the global economy.”
However, for now, he said, trademark and tax professionals aren’t talking to each other enough. This means that companies with intellectual property lose opportunities to report the company to the tax authorities, which can lead to serious consequences: “Your tax situation affects your brand and can affect you there.”
Marowitz said the report focused on Europe because of the diversity of tax systems. It’s part of a two-year educational plan that will include reports from other regions and webinars on topics such as transfer pricing.
As the report states: “The tax environment is constantly changing. For this reason, it is important to identify key emerging trends and anticipated legislative changes in advance, to be prepared. The specific upcoming changes discussed are the OECD Digital Tax Project and the EU Anti-Tax Directive.
In his presentation at the opening ceremony, INTA 2022 President Zeeger Vink of MF Brands Group emphasized the need to properly recognize brand assets in accounting rules. On April 30, the INTA Board of Directors passed a resolution stating that “Accounting standards should not require the blanket exclusion of trademarks and complementary intellectual property that have been developed from being recognized as assets in corporate balance sheets. The Presidential Task Force on Brand Intellectual Property Reporting will further From research on this topic.
Intellectual Property Growth Engines
In his speech at the opening ceremony, Director General of the World Intellectual Property Organization (WIPO), Darren Tang, said that innovation and creativity have led to an increased use of WIPO systems. He added that record venture capital investment has decoupled between GDP and research and development, with companies turning to digital technologies: this accounts for 6% of patents, and “digital” is among the top five words in brand searches.
Tang said that there have been “many drivers of IP growth since 2010,” with filings increasing in countries such as Brazil, India, Indonesia and Mexico: “More and more people see IP as relevant. More and more countries see IP as important for growth. .
In response, WIPO is creating a Strategy House as part of its Strategic Plan 2022-2026. Tang said he would take a “more customer-centric approach” and help “change the narrative around intellectual property.” Additionally, as part of the organization’s efforts to promote inclusion and diversity, WIPO Deputy Director-General Lisa Jorgensen has been appointed as the first IP and gender equality championing organization, responsible for promoting women’s participation in IP.
Vidal on tackling trademark backlog
The Director of the USA Office, Cathy Vidal, addressed the May 3 meeting. She said that protecting the brand is more important than ever, adding, “We [the Biden Administration] I believe in strong intellectual property rights – I want to make this very clear.
U.S. trademark filings jumped 27.5% in 2021, and there is now a backlog of 544,000 unchecked semesters. Expect the first action to come to about 7.8 months and anticipate the sell to 12.8 months. “Please know that we are doing everything we can to solve this problem,” Vidal said. She said the offices have hired 32 brand examiners to support the 335 they currently have and are rolling out new technologies.
It is also expanding its resources to combat bad actors, she said: “We are strengthening our record protection, and combating sophisticated and sophisticated criminal schemes remains a top priority for the USA office.”
As part of its efforts to promote inclusivity, the USPTO launched the Board of the Inclusive Innovation Initiative, chaired by US Secretary of Commerce Gina M. Raimondo, with Vidal as vice president.
Metaverse, NFT, and durability
The annual meeting’s educational program is organized around seven themes: Building a better community through brands. Additional rights, regulatory issues and trademark restrictions; combating fraud and counterfeiting; Innovation and the future of intellectual property. professional development; brand business; and regional updates.
This year, the focus has been on issues related to metaverse tokens, the blockchain, and non-fungible tokens (NFTs), with several sessions held on these topics. Speakers discussed ongoing NFT and brand issues such as Nike vs StockX And Hermes vs Mason Rothschild.
Sustainability topics were also popular, with sessions on implementing a green IP strategy and eliminating counterfeit products in a sustainable way.
As part of its initiative to create a culture of sustainability, INTA has encouraged registrants to offset their carbon footprint. He also offered the opportunity to donate to refugee relief in Ukraine and hosted a reception for the INTA Foundation, which works to expand intellectual property training and professional development opportunities for different underrepresented populations.
Next year’s INTA annual meeting will be held in Singapore from May 16-20, with in-person and virtual options.
Image source: Depot Photos
Author: Vadim Vasinin
Photo ID: 195224554