06_76-78_IntellPropSeminar
20.02.2006
16:43 Uhr
Seite 76
Photo: Fabien Breuil
“We are not credible until we can get this community patent.” Minister of Economy, Jeannot Krecké
PROMOTING LUXEMBOURG AS AN INTELLECTUAL PROPERTY HUB
Banking on Ideas How can Luxembourg position itself to competitively attract intellectual titles and activities? A recent AMCHAM IP Seminar is only one of the many initiatives undertaken by a diverse forum determined to turn Luxembourg into an IP Hub. “Ideas are to the information age what the physical environment was to the industrial one: the raw material of economic progress” (Cukier, The Economist, 2005) Good ideas (a simplified definition of Intellectual Property) are fuelling the new economy. They have always borne the potential to turn a profit. But in this day and age, coming up with a good idea - and licensing it and all future rights for its use - are two very different things. The AMCHAM IP Seminar held in January 2006 was just one in a calendar of events envisioned by a forum of working groups from various industries determined to turn Luxembourg into an IP Hub. This forum has already undertaken an extensive SWOT (strength, weaknesses, opportunities and threats) analysis of Luxembourg as an IP destination, conducted an Evaluserve market research study, and presented their findings to the Luxembourg government. (presentations at www.amcham.lu). Ian Whitecourt (Vice-Chairman of AMCHAM) and Hedda PahlsonMoller (Managing Director of Evalueserve Benelux/OMSINT) worked together with David Roach and Serge Saussoy of PricewaterhouseCoopers to prepare the IP Seminar. Their goal was to present their findings and raise awareness about the amount of value that intellectual capital could generate for companies, and the considerable tax benefits to be gained in consolidating and migrating IP portfolios. Parallel IP projects currently running in Luxembourg include a biotech study at the CRP Santé, the Haiti project at the CRP Henri Tudor, and LIASIT. In the opinion of the IP Forum, there could be a lot more. “Luxembourg is well positioned to compete for this new type of investment. The
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aim of the IP Seminar was to introduce some of the advantages of this opportunity and challenge for the Grand Duchy.” The legal perspective was outlined by Katia Manhaeve (Allen & Overy), the fiscal perspective by Valery Civilio (PWC), and the operations perspective by P-Moller. Jeannot Krecké, Minister of the Economy, gave a rousing speech at the end of the presentations urging people to realise the importance of IP as a bankable asset.
Legal and Fiscal Perspectives “The purpose of the IP seminar is to put Luxembourg on the map as an IP destination,” announced Whitecourt. Manhaeve pointed out some legal issues that arise when a (foreign) company decides to transfer the ownership of its IP to Luxembourg or to create new IP in Luxembourg, e.g. through research and development activities. IP is protected by national legislation and international treaties. Theterritorial nature of IP rights should not be forgotten. Hence, when people want to know whether their IP rights will be well protected in Luxembourg after a transfer of ownership, Manhaeve answers that such a question may not always be relevant. In an international portfolio of IP rights, each IP right will be protected by the legislation of its country of origin. A Mexican trademark will be protected by Mexican legislation, even if the owner of that trademark is a Luxembourg company. As to the Luxembourg legislation, Manhaeve points out that it is, in general, very complete and undergoes regular changes, mainly as a result of