Over the last few years, we have noticed an increase in the number of our clients who are using Isle of Man incorporated companies for holding their valuable intellectual property assets.
Intellectual property includes Patents, Trademarks, Copyrighted works, Database rights and Design Rights. Actually its no coincidence that they have chosen the Isle of Man.
The Isle of Man has the best legal framework of all the offshore islands for protecting IP assets. Here are a few of the reasons why:-
(i) The Isle of Man is a member of the Berne Convention and the World Trade Organization’s Agreement on Trade Related Aspects of Intellectual Property (“TRIPS”)
(ii) The UK Patents Act 1977 extends to the Isle of Man, which uses the UK Patents registry.
(iii) The Patent Cooperation Treaty (‘PCT’) has extended to the Isle of Man since 29 October 1983 thus simplying international registrations.
(iv) The European Patent Convention applies to the Isle of Man which allows protection in upto 38 countries under a uniform application procedure.
(v) The UK Legislation relating to Trademarks has been extended to the Isle of Man thus there are no formalities required to extend UK trademarks and applications to the Isle of Man.
(vi) European Community Trademarks and applications relating thereto extend to the Isle of Man, notwithstanding the Isle of Man not a member of the EU.
(vii) The Madrid Protocol extends to the Isle of Man. This offers the possibility to protect a trademark in 81 countries by making a single application to the World Intellectual Property Organization.
Neither the Channel Islands nor the BVI offer such a comprehensive legal framework for IP assets.