Taxation, Metaverse and Sustainability are at the center of INTA’s annual meeting – Plus Speeches by Tang and Vidal

“Trademark applications in the United States increased by 27.5% in 2021, and there is now a backlog of 544,000 unexamined classes. The expectation of first action is approximately 7.8 months and the expectation of sales to be 12.8 months.” Please know that we are doing what we can to solve this problem, “he said [USPTO Director Kathi Vidal]. “

INTA - https://depositphotos.com/66060771/stock-illustration-long-shadow-brazil-map-with.htmlUnderstanding tax issues is increasingly important for trademark practitioners, and a new report from the International Trademark Association (INTA), covering the EU, Switzerland and the UK, aims to help them achieve this.

“Report on Trademark Taxation and Complementary Rights in Europe” was unveiled at 144and INTA Annual Meeting Live + held in Washington, DC and online from April 30-3. May. There were over 6,700 registrants from 130 countries.

Tax considerations for trademark practitioners

The report guides readers through important tax considerations in the fire cycle (creation / acquisition, operation and transfer) and also explains important tax-related terms.

In the section on exploitation and commercialization, the report outlines three popular models – the owner’s own utility model, the license model and the master model – and discusses tax implications, location considerations and distribution methods: ‘Evaluation.

With brands increasingly at the center of business value, tax regulators are paying more attention to the placement and management of intellectual property rights, explained Jeff Marowits, president of customer service. at Keystone Strategy and a member of INTA’s Research Advisory Board, Global Transactions and Tax Committee. : “Tax regimes seek to assess where companies generate profits and take a share of the profits in a global economy.”

Right now, however, he said brand and tax experts are not talking enough together. This means that companies that own intellectual property lack opportunities to inform the tax authorities about the company, with potentially harmful consequences: “Your tax position affects your brand and may affect you there.”

The report focused on Europe because of the wide variety of tax systems, Marowits said. It is part of a two-year training 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, in order to be prepared, it is important to identify important new trends and expected legislative changes in advance. Specific forthcoming changes being discussed are the OECD Digital Taxation Project and the EU Anti-Tax Avoidance Directive.

In his presentation at the opening ceremonies, INTA 2022 President Zeeger Vink of the MF Brands Group emphasized the need to properly recognize trademark assets in accounting rules. On April 30, INTA’s Board of Directors passed a resolution that “Accounting standards should not require a general exclusion of trademarks and ancillary intellectual property developed from recognition as assets on corporate balance sheets. A presidential trademark reporting task force will further examine this topic.

Growth drivers for intellectual property

Speaking at the opening ceremonies, Daren Tang, Director General of the World Intellectual Property Organization (WIPO), said that innovation and creativity have led to increased use of WIPO systems. Record-breaking venture capital investments have decoupled the link between GDP and R&D, he added, with companies turning to digital technologies: These account for 6% of patents, and “digital” is among the first five words in trademark searches.

Tang said there have been “many more growth drivers for intellectual property since 2010,” with increased applications in countries such as Brazil, India, Indonesia and Mexico: “More and more people are seeing intellectual property as relevant. And more and more countries are seeing intellectual property rights as important for growth.

In response, WIPO is creating a strategy house as part of its 2022-2026 strategic plan. Sir. Tang said he would take a “more customer-centric approach” and help “change the narrative around intellectual property.” In addition, as part of the organization’s efforts to promote inclusion and diversity, WIPO’s Deputy Director General Lisa Jorgenson has been named the first champion of intellectual property and gender, responsible for encouraging women’s involvement in intellectual property.

Vidal on tackling brand backlog

USPTO Director Kathi Vidal spoke at the May 3 meeting. She said trademark protection is more important than it has ever been, adding: “We [the Biden Administration] believe in strong intellectual property rights – I would like to make that very clear.

Trademark applications in the United States increased by 27.5% in 2021, and there is now a backlog of 544,000 unexamined classes. The expectation of first action is approximately 7.8 months and the expectation of sale to 12.8 months. “Please know that we are doing what we can to solve this problem,” Vidal said. She said the offices have hired 32 trademark investigators to support the 335 they currently have and are rolling out new technologies.

It also expands its resources dedicated to fighting bad actors, she said: “We are strengthening the protection of our register, and fighting sophisticated and evolving criminal schemes remains a top priority for the USPTO.”

As part of its efforts to promote inclusivity, the USPTO launched the Council for Inclusive Innovation initiative, chaired by US Secretary of Commerce Gina M. Raimondo, with Vidal as Vice President.

Metaverse, NFT and durability

The annual meeting education program was organized around seven axes: Building a better society through brands; additional rights, regulatory issues and trademark restrictions; Fight against fraud and fight against counterfeiting; Innovation and the future of intellectual property; professional development; The company with brands; and regional updates.

This year, the focus was on topics related to metaverse, blockchain, and non-fungible tokens (NFTs), with many sessions on these topics being held. Speakers discussed ongoing NFT and trademark issues such as Nike vs. StockX and Hermès and 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 called on registrants to offset their CO2 footprint. He also offered the opportunity to donate to Ukraine’s Refugee Aid and hosted a reception for the INTA Foundation, which works to expand IP training and professional development opportunities for various underrepresented populations.

Next year’s INTA annual meeting will be held in Singapore 16-20. May with both personal and virtual opportunities.

Image source: Depot photos
Author: Vadim Vasenin
Image ID: 195224554

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