IP into their corporate tax planning and accounting processes.
I actually believe it’s nonetheless valid to make the following statement.
As such, the topic is very complex and I will leave the details to the experts. My experience demonstrates that few corporate managers are aware that such savings are possible. It became apparent to me how important IP asset management gonna be to corporate tax planning and accounting efforts, as these experts discussed ‘IPrelated’ tax problems. You should take it into account. It would likely be exceedingly difficult for them to capitalize on this savings as long as few organizations possess the IP infrastructure that allows efficient capture and assessment of costs associated with obtaining and managing IP assets, even if they know about this opportunity. Consequently, while accounting processes must be able to determine the costs of obtaining and managing such assets, I do understand that if you are going to capitalize on tax deductions and tax credits about IP.
In my years of high level intellectual property practice, By the way I was never expressly brought into the tax planning or accounting processes. It would then make sense that IP attorneys just like myself will be contacted on a regular basis to assist tax experts in the information capture process. Management should be well served in this regard by finding the necessary IP and tax expertise to identify opportunities for value capture through tax savings. Anyways, being that the highly arcane nature of the interplay between tax and IP, I would advise one to seek specific expertise outside of their organization. This will require payment to consultants, that could be a limiting factor for many corporations. Nonetheless, the first step is certainly to obtain education about the categories of tax savings that can be captured through improved IP management programs.
Now let me ask you something. How can a corporation capture this tax savings value?
It’s an interesting fact that the next step must be to institute an intellectual asset management system that allows the corporation to capture the costs associated with obtaining and managing IP related assets, I’d say in case this investigation proves that demonstrable IP related tax savings are possible.
Many corporations have successfully developed and executed on IAM systems by internally developing robust ‘business focused’ IP management processes. Then again, examples of such software systems are Decipher, Anaqua and Lecorpio. Notice, for organizations seeking to obtain ‘IP related’ tax savings more quickly and with less infrastructure development, a IAM software solution should be beneficial. Jackie was named a SuperLawyer in Intellectual Property in Georgia in 2004, and she was a frequent speaker on IP problems to her fellow lawyers. Of course, prior to joining Georgia Pacific, Jackie was a shareholder at the prestigious IP firm of Needle Rosenberg, personal computer, where she represented mulit national companies, universities and innovators in protecting their IP to create maximum asset value.
She has that gives her an unique perspective in how to maximize firm IP value by avoiding litigation.