As Benjamin Franklin famously once observed, nothing is certain in this world except death and taxes. It’s one of those pearls of wisdom that has stood the test of time.
For many intellectual property lawyers, tax is just that – one of life’s certainties. It’s probably not something they often think about during their work hours.
The truth is, however, that IP and tax are much more closely related than many lawyers care to realise. This is particularly true when it comes to IP licensing; transfer pricing of intangible assets; and patent boxes, to give just three examples.
INTA has been following this issue for some time. In May 2022, it published a report finding that trademark and tax professionals needed to work together more closely.
But despite this and other efforts, the disconnect between IP and tax professionals remains. Often, whenever a crossover in business arises, each side thinks the other is responsible. This creates risk and uncertainty.
A year on from INTA’s report, and nearly 250 years since Franklin uttered those iconic words, Managing IP and its sister publication International Tax Review (ITR) have co-published a special report on IP and BEPS (base erosion and profit shifting), which is a core part of global tax.
Called Bridging the divide: a special report on BEPS and IP, the three-part report includes exclusive insight from heads of tax and IP directors at multinational companies and law firms. In it, readers can find out how to:
· Close the gap between tax and IP teams;
· Meet the IP challenges of BEPS; and
· Prevent costly tax disputes.
You can navigate the special report using the link above, or you can go directly to the three individual sections below:
· Part one – analysis on how multinationals can reduce barriers between teams, including comments from a former IP director at Nokia
· Part two – analysis on why companies may need to establish new internal structures for BEPS, with insight from a European IP lawyer
· Part three – opinion on why IP and tax need to be more closely aligned, from Managing IP and ITR editor-in-chief Ed Conlon
We hope you enjoy it!
