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Home > Services > Domestic Wealth Planning > Protecting Your Intellectual Property > Structuring Patent Royalties
Any person who has developed a patent from design to production or sale understands that royalties from intellectual property are hard earned and well deserved. This is only one of the many reasons to structure the protection of a patent and the royalties that come from intellectual property.
There are many ways to devise the protection of intellectual property; this means its current form and future proceeds from this asset. Developing a first patent is like being a parent for the first time. As a child grows to adulthood, many bumps, bruises, and relationships go by the wayside. A patent develops in the same manner. A patent is an asset and requires a plan for Asset Protection.
The problem is a combination of taxation and protection. Many patents have international reach and when royalties are distributed, the funds are distributed from multiple sources. Many countries have double tax treaties and preserving profits can become very difficult without proper structure. The problem now is to protect the patent, the royalties, now and in the future and reduce taxation.
The country of citizenship and residence is an important consideration when setting up structures for patent protection and royalty receipt. Licensing companies must be set up in the countries where the royalties emanate. These licensing companies serve as intermediary receptacles to reduce the withholding tax, rather than to house the final capital gains from the asset. Depending on the investors and owners, the tax withholding will be determined in part by the majority ownership and that if a resident is not the majority, then certain limitations will apply or reduction in taxation.
The actual profits in this circumstance are then moved to a country that has lower tax margins. This is complicated work and requires a team of the best accountants, attorneys and international tax experts as well as Asset Protection specialists to achieve. There should be a careful analysis of the technique used to secure patent profits.
Any person can create a company offshore for intellectual property if they follow the laws and procedures. These laws and procedures are similar to those in the United States. A trademark, copyright or patent must be filed in the jurisdiction that you want to protect it in. In the same way that no country honors the judgments in the US, no country protects our trademarks, copyrights and patents either.
It is a prudent conclusion to state that protection of an intellectual property is to insure the profits from that asset and that if a person is going to take the time and spend the money to develop a property, they should think long term in protection and taxation.
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