What is Intellectual Property?
Intellectual Property, as a legal term, refers to intangible creations of human intellect. It covers copyrights, trademarks, patents, trade secrets, and industrial design rights. Registering your Intellectual Property to protect it from unauthorised and transgressive use is essential.
Intellectual Property in Cyprus:
As a member of the European Union since 2004, Cyprus has adapted its legislation to align with the Office for Harmonisation in the Internal Market guidelines, which Cyprus has also been a member of since it acceded to the European Union.
In recent years, the corporate landscape has expanded radically, creating many more options for innovation and creativity. This growth created an even bigger demand for registering Intellectual Properties. Our legal firm offers an all-inclusive package for registering, renewing, and cancelling your intellectual Property and making the IP box based on your needs.
The Cyprus authorities amended the law regarding Intellectual Property in 2016, making the existing Intellectual Property Box rules stricter. Therefore, it is essential to determine whether the IP asset is eligible for the IP Box regime and whether it falls under the definition of a qualified intangible asset.
What does Intellectual Property refer to?:
Research & Development activities
Patents
Computer software
Other IP assets which are legally protected (eg Utility models, pharmaceutical substance designations and extensions of protections for patents)
Key components of the Cyprus IP Box:
Qualifying IP Assets: Intangible assets which could be legally protected
Qualifying Income: Income which originates from qualifying Intellectual Properties (eg royalties, capital gains, embedded IP income from the sale of products or services)
Tax exemption: An appealing tax exemption is applied to the qualifying IP income after deducting all directly related expenses, including amortisation
Effective Tax Rate: An effective low tax rate is applied to qualifying IP income
At A. M. Miltiadous & Associates LLC, we have created a specialised package of services, including the following:
Registration and renewal of Intellectual Property, Patents and Industrial Designs
Trademark oppositions, cancellations and counterfeit actions
Valuation of Intellectual IP Rights in Assignments, Mergers of Acquisitions
Trademark watching and infringement services
IP arbitration and mediation
Litigation of other IP rights
Counselling on licensing and franchising
Our skilled legal team can effectively handle your case, aiming to maximise the value of your Intellectual Property while transparently providing the benefit package for which your IP is eligible.
