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Multinational companies with distributed operations and geographic centers of specialized activities tend to transfer intangibles including intellectual property assets among their various affiliates. These transfers between entities are priced at levels that approximate fair market value and are simultaneously consistent with every company's duty to maximize shareholder value. Tax authorities have long complained that multinationals are setting international transfer prices to avoid taxes by lowering income in high tax jurisdictions and raising income in low tax jurisdictions. In theory, a multinational should not suffer prejudice in such a case (beyond the payment of appropriate penalties) because international tax treaties contemplate adjustments; the underpayment would be collected and the overpayment refunded in each respective jurisdiction. As a practical matter however, there is a real risk of double taxation since sovereign tax authorities may come to disagree on transfer pricing levels.
Sensitized by recent high-profile tax disputes, multinational companies are now specifically seeking strategies to minimize transfer pricing conflicts with the Internal Revenue Service and other international taxing bodies. This article introduces one practical solution.
IP Transfer, Pricing and Conflict
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.