Home New mexico tax Taxation, Metaverse and Sustainability at the Center of INTA Annual Meeting –...

Taxation, Metaverse and Sustainability at the Center of INTA Annual Meeting – Plus Speeches by Tang and Vidal

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“Trademark filings in the United States jumped 27.5% in 2021, and there is now a backlog of 544,000 unexamined classes. The expectation of first action amounts to approximately 7.8 months and the expectation of sale to 12.8 months. “Please know that we are doing what we can to resolve this issue,” said [USPTO Director Kathi Vidal].”

Understanding tax issues is increasingly important for 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 so. reach.

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

Tax Considerations for Trademark Practitioners

The report guides readers through 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 commercialization, the report explains three popular models – the owner’s own use model, the license model and the master model – and discusses tax implications, location considerations and methods of distribution. ‘Evaluation.

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

Right now, however, he said trademark and tax professionals aren’t talking to each other enough. This means that companies owning intellectual property are missing opportunities to inform the tax authorities about the company, with potentially damaging consequences: “Your tax position affects your brand and could affect you there.”

The report focused on Europe due to the variety of tax regimes, Marowits said. It is part of a two-year education 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 expected legislative changes in advance, to be prepared. Specific upcoming changes 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 MF Brands Group emphasized the need to properly recognize brand assets in accounting rules. On April 30, INTA’s Board of Directors passed a resolution stating that “Accounting standards should not require a blanket exclusion of trademarks and complementary intellectual property that are developed from recognition as assets on corporate balance sheets. A Presidential Task Force on Intellectual Property Reporting for Trademarks will further examine this topic.

Intellectual Property Growth Drivers

In his speech at the opening ceremonies, the Director General of the World Intellectual Property Organization (WIPO), Daren Tang, said that innovation and creativity have led to increased use of WIPO systems. Record venture capital investment has 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 filings in countries like Brazil, India, Indonesia and Mexico: “More and more more people see intellectual property as relevant, and more and more countries see intellectual property as important for growth.

In response, WIPO is setting up a Strategy House as part of its 2022-2026 Strategic Plan. Mr. Tang said he would take a “more customer-centric approach” and help “change the narrative around IP”. In addition, as part of the Organization’s efforts to promote inclusion and diversity, WIPO Deputy Director General Lisa Jorgenson has been named the first Champion of Intellectual Property and Gender Equality. of the Organization, responsible for encouraging the involvement of women in intellectual property.

Vidal on tackling trademark backlog

USPTO Director Kathi Vidal addressed the May 3 meeting. She said brand protection is more important than ever and added, “We [the Biden Administration] believe in strong intellectual property rights – I want to make that very clear.

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

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

As part of its efforts to promote inclusivity, the USPTO launched the Council for Inclusive Innovation initiative, which is chaired by U.S. Secretary of Commerce Gina M. Raimondo, with Vidal as vice chair.

Metaverse, NFT and durability

The educational program of the Annual Meeting was organized around seven axes: Building a better society through brands; additional rights, regulatory issues and trademark restrictions; law enforcement and anti-counterfeiting; Innovation and the Future of Intellectual Property; professional development; The business of brands; and regional updates.

This year, the focus was on issues related to metaverse, blockchain and non-fungible tokens (NFTs), with many sessions on these topics being held. Speakers discussed ongoing NFT and trademark cases such as Nike vs. StockX and Hermès versus 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 Ukraine Refugee Relief and hosted a reception for the INTA Foundation, which works to expand educational and professional development opportunities in intellectual property for diverse underrepresented populations.

Next year’s INTA Annual Meeting will be held in Singapore May 16-20, with both in-person and virtual options.

Image Source: Depot Photos
Author: Vadim Vasenin
Image ID: 195224554