This document provides an overview of intellectual property (IP) and discusses strategies for entrepreneurs to leverage IP for financial gain. It begins by explaining the historical roots and purpose of IP as a legal framework granting temporary monopolies to incentivize innovation. The document then covers the four main types of IP - patents, copyrights, trademarks, and trade secrets - and how each can be protected, enforced, and utilized. Finally, the document outlines six methods for making money from IP, including licensing agreements, valuation, competitive tactics, branding, internal incentives, and litigation.
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Substantial differences between company book values and market values indicate the presence of assets not recognised and measured in company balance sheets. Intellectual capital assets account for a substantial proportion of this discrepancy. At present, companies are not required to report on intellectual capital assets which leaves the traditional accounting system ineffective for measuring the true impact of such intangibles.
Regulations currently in place are analysed in this paper. Prior research concerning intellectual capital is next presented. Frameworks for intellectual capital are compared. Indicators used for the measurement of intellectual capital are examined. The research methodologies employed for collecting information about the use of intellectual capital accounts in companies are reviewed.
Guidelines available to companies for reporting on intellectual capital are considered and also the efforts made towards developing an accounting standard for intellectual capital. Finally, current issues and policy implications of accounting for intellectual capital in the future are examined.
International Trade Laws: International Contracts of Sale of Goods Transactions, International Trade Insurance,
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This document provides an overview of intellectual property (IP) and discusses strategies for entrepreneurs to leverage IP for financial gain. It begins by explaining the historical roots and purpose of IP as a legal framework granting temporary monopolies to incentivize innovation. The document then covers the four main types of IP - patents, copyrights, trademarks, and trade secrets - and how each can be protected, enforced, and utilized. Finally, the document outlines six methods for making money from IP, including licensing agreements, valuation, competitive tactics, branding, internal incentives, and litigation.
Brennan, Niamh and Connell, Brenda [2000] Intellectual Capital: Current Issue...Prof Niamh M. Brennan
Substantial differences between company book values and market values indicate the presence of assets not recognised and measured in company balance sheets. Intellectual capital assets account for a substantial proportion of this discrepancy. At present, companies are not required to report on intellectual capital assets which leaves the traditional accounting system ineffective for measuring the true impact of such intangibles.
Regulations currently in place are analysed in this paper. Prior research concerning intellectual capital is next presented. Frameworks for intellectual capital are compared. Indicators used for the measurement of intellectual capital are examined. The research methodologies employed for collecting information about the use of intellectual capital accounts in companies are reviewed.
Guidelines available to companies for reporting on intellectual capital are considered and also the efforts made towards developing an accounting standard for intellectual capital. Finally, current issues and policy implications of accounting for intellectual capital in the future are examined.
International Trade Laws: International Contracts of Sale of Goods Transactions, International Trade Insurance,
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International Labour Laws.
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Arbitrability Of Intellectual Property Disputes In India A CritiqueSteven Wallach
This document summarizes and critiques the law on arbitrability of intellectual property disputes in India. It begins by providing context on arbitration and intellectual property rights. It then surveys key cases that have shaped the law on this issue in India in a chronological manner. These include Booz Allen and Hamilton Inc. v SBI Home Finance Ltd. and Sukanya Holdings (P) Ltd. v Jayesh H. Pandya, which established important principles regarding arbitrability. The document also discusses different approaches to arbitrability of IP disputes internationally. It argues that while some movement towards liberalizing arbitrability of IP disputes has occurred, India's regime remains restrictive compared to other jurisdictions. The way forward is further liberal
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Vskills certification for Human Rights Law Professional assesses the candidate as per the company’s need for managing human rights law related matters. The certification tests the candidates on various areas in basic concepts in human rights, legal rights, claim rights, liberty rights, obligation, duty, duties of states, bilateral treaty, multilateral treaty, convention, covenant, protocol, charter and statute.
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Dr.Kretov Kirill (Master of Arts in Human Resource Management, and Doctor of Business Administration) explains various types of intangible assets (non-physical resources) recognized (and not) by current accounting practices. This paper is an extract from the Doctorate Thesis written by Dr.Kretov Kirill in December 2009, Geneva / Montreaux, Switzerland. The author invites everyone to participate in his ongoing survey on the site http://www.kretov.ch
Demographic segmentation includes categorizing consumers based on age, income, generation, and gender. An agreement to do an impossible act is void. The responsibility of a finder of goods is the same as that of a bailee.
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This document provides the questions from the Law 531 final exam and includes a link to purchase the answers. There are 30 multiple choice questions testing various areas of law including business organizations, contracts, employment law, property law, and Sarbanes-Oxley regulations. Students are encouraged to copy and paste the link provided to obtain the correct answers to the exam questions.
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This presentation provides key legal information for any CEO or company leader seeking to fulfill GDPR Access Requests, also known as GDPR DSAR, GDPR DSR, and GDPR SAR.
About Feroot:
Feroot GDPR DSAR Framework helps any organizations understand, prepare for handling access requests, and manage fulfillment of access requests using the self-serve approach from within their mobile, web apps, and portals.
The International Chamber of Commerce (ICC) has published a groundbreaking report on the adjudication of intellectual property cases worldwide, providing a snapshot of the structures and practices of specialised intellectual property jurisdictions (SIPJs) in a group of geographically and economically diverse countries.
Learn more and download the report > http://bit.ly/ICCReport_SIPJ
Intellectual Ventures launched a public database in 2013 providing details on 33,000 patent assets it owns. An analysis was conducted of IV's portfolio based on this data. The analysis found that over 50% of IV's patent assets will expire by 2021, with over 80% expiring by 2024. IV's portfolio focuses heavily on electrical engineering and computer technology, with these fields representing over 80% of the patents. The international component of IV's portfolio is about 31% of the total, with most foreign patents located in Japan.
Richardson and Oliver - What's Inside IV's Patent Portfolio - IAM #66Kent Richardson
Intellectual Ventures launched a public database in 2013 providing details on 33,000 patent assets it owns. An analysis was conducted of IV's portfolio based on this data. The analysis found that over 50% of IV's patent assets will expire by 2021, with over 80% expiring by 2024. IV's portfolio focuses heavily on electrical engineering and computer technology, with these fields comprising over 80% of the patents. The international component of IV's portfolio is about 31% of the total, with most foreign patents located in Japan.
Introduction To Intellectual Property RightsQadir Chamber
The document discusses intellectual property rights (IPR) and provides an overview of key concepts. It defines IPR as intangible property resulting from creativity that can be owned, bought, sold, and licensed. The major types of IPR are discussed as copyright, trademarks, patents, and industrial designs. The objectives and positive/negative impacts of IPR protection are also summarized.
This document discusses securitization of intangible assets, specifically intellectual property assets. It begins by defining intangible assets and the three main types: intellectual property, intellectual capital, and goodwill. Intellectual property, which includes copyrights, trademarks, and patents, is the most common type of intangible asset that is securitized. The document provides examples of past securitizations of intellectual property, such as musician David Bowie securitizing the royalties from his albums in 1997 and film company Miramax securitizing its film library in 2014. It then discusses various intellectual property assets like copyrights, trademarks, and patents that can be securitized and provides case examples.
The document describes an afterschool programme on accounting, economics and business run by Dr. T.K. Jain's Centre for Social Entrepreneurship in Bikaner, India. It is a free programme that provides the world's most comprehensive training in social and spiritual entrepreneurship. Contact details are provided.
Intellectual Property in Professional PracticesSaji909
This document discusses a group project on intellectual property. The group includes 4 students: Muhammad Sajid, Hanzla Ahmad, Rizwan Haider, and Asadullah Saeed. Muhammad Sajid will focus on the World Intellectual Property Organization and what constitutes intellectual property. The document also covers the major types of intellectual property like copyrights and patents, as well as the nature, importance, and types of intellectual property rights. It concludes with an overview of ethics in information technology and business.
The document provides an introduction to intellectual property. It defines intellectual property as creations of the mind such as literary and artistic works. It outlines the responsibilities of the Intellectual Property Office to register copyrights, trademarks, patents, industrial designs, and plant variety rights. The benefits of intellectual property protection include promoting innovation, business competitiveness, and enabling intangible assets to be used as collateral.
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5. Intellectual Property Right(IPR) –
Understanding & Practice
Part I : Intangible Assets
Part II : Intellectual
property rights
Part III : ITA Vs IPR
Part IV : Disclosures
Part V : Valuation- Approaches
and Methodologies
Part VI : Legal Provisions
& Case Studies
Part VII : Role of CS
5
20. Intellectual property rights are the rights
given to persons over the creations of their
minds. They usually give the creator an
exclusive right over the use of his/her
creation for a certain period of time.
WHAT IS IPR??
20
22. 1. What is IPR?
(a). Artificial Intelligence
(b). Over the Creations of the persons minds
(c). Goodwill
(d). Natural Intelligence
The Correct Option is (b).
22
23. 2. Which of the following is not an IPR?
(a). Copy rights and Trade marks
(b). Designs
(c). Incubators and accelerators
(d). Trade Secret and Database
23
27. 2. Which of the following is not an IPR?
(a). Copy rights and Trade marks
(b). Designs
(c). Incubators and accelerators
(d). Trade Secret and Database
The Correct Option is (C).
27
31. 31
Intangible Assets
An intangible asset is an identifiable non-
monetary asset without physical
substance. Such an asset is identifiable
when it is separable, or when it arises
from contractual or other legal rights.
Which Cannot be visible with naked eye
31
32. Intangible Assets
Noncurrent assets
without physical
substance.
Useful life is
often difficult
to determine.
Usually acquired
for operational
use.
Often provide
exclusive rights
or privileges.
Intangible
Assets
32
35. 3. WHAT IS INTANGIBLE ASSET?
(a). IDENTIFIABLE NON-MONETARY ASSET
(b). IDENTIFIABLE MONETARY ASSET
(c). NON-PERFORMING ASSET
(d). CONTINGENT ASSET
Now, the Correct answer is Option (a).
35
36. 4. Which of the following is not an Intangible
asset?
(a). Market share and marketing right
(b). Franchise
(c). Customer supplier relationships
(d). Listing status
36
38. The main types of intangible assets are goodwill, brand equity, Intellectual properties
(Trade Secrets, Patents, Trademark and Copyrights), licensing, Customer lists, and R&D.
TYPES OF INTANGIBLE ASSETS
3838
39. Types of Intangible Assets
Intangible assets are those noncurrent economic resources that a company
uses in its operations but have no physical existence.
Patents Goodwill & Copyrights Trademark
39
43. 4. Which of the following is not an Intangible
asset?
(a). Market share and marketing right
(b). Franchise
(c). Customer supplier relationships
(d). Listing status
Now the Correct Option is (d)
43
45. 5. What is the relationship between ITA & IPR??
(a). IPR is an umbrella term for a set of intangible
assets or assets that are not physical in nature.
(b). IA & IPR have physical existence
(c). An intangible asset & IPR is a physical asset that
a company or person owns.
(d). IA does not physical existence but IPR have
physical existence.
45
49. IPR VS INTANGIBLE ASSETS
S.No. Description Intangible Assets Intellectual Property Rights
1. Definition Assets that lack physical substance
and have value, such as goodwill,
patents, trademarks, copyrights, and
trade secrets.
Legal rights protecting
creations of the mind,
including inventions, artistic
works, and symbols.
2. Nature Broad category that encompasses a
range of intangible assets that do not
have any physical existence.
A subset of intangible assets
that provides legal protection
for the intangible assets
created by an individual or a
company.
3. Examples Goodwill, brand recognition,
customer relationships, non-compete
agreements, and proprietary
technology.
Patents, trademarks,
copyrights, trade secrets,
industrial designs, and
geographical indications.
4. Purpose Enhances the value of a company,
contributes to its long-term success,
and differentiates it from its
competitors.
Provides exclusive rights to the
creators or owners of
intellectual property, which
they can use to commercialize
their creations or prevent
others from using them
without their permission.
49
50. IPR VS INTANGIBLE ASSETS
S.No. Description Intangible Assets Intellectual Property Rights
5. Valuation Difficult to measure accurately due to
their intangible nature and
dependence on subjective factors
such as brand recognition and
reputation.
Easier to measure, as they have
specific legal frameworks
governing their creation,
ownership, and use. They can
also be assigned a monetary
value based on market
demand, licensing fees, and
potential revenue streams.
6. 6. Duration Generally, the value of intangible
assets is expected to decline over
time.
The duration of intellectual
property rights depends on the
type of right granted. For
example, patents typically last
for 20 years, while trademarks
can last indefinitely if they
continue to be used and
protected."
50
52. 5. What is the relationship between ITA & IPR??
(a). IPR is an umbrella term for a set of intangible assets or assets
that are not physical in nature.
(b). IA & IPR have physical existence
(c). An intangible asset & IPR is a physical asset that a company
or person owns.
(d). IA does not physical existence but IPR have physical
existence.
The Correct Option is (a).
52
53. 6. What are the Authorities not Connected with
INTANGIBLE ASSETS?
(a). Geographical Indications Law Tribunal
(b). Regional Director, Ministry of Corporate Affairs
(c). Registrar of companies, Ministry of
Corporate Affairs
(d). The Intellectual Property Appellate Board
(IPAB)
53
54. What are the Authorities Connected
with INTANGIBLE ASSETS??
54
55. Registrar of Trademark, Copyright &
Patent
Trademark Tribunal Board
Intellectual Property Appellate Tribunal
Registrar of Companies, Ministry of
Corporate Affairs.
Regional Director, Ministry of Corporate
Affairs
55
AUTHORITIES ….
55
57. 6. What are the Authorities not Connected with
INTANGIBLE ASSETS?
(a). Geographical Indications Law Tribunal
(b). Regional Director, Ministry of Corporate Affairs
(c). Registrar of companies, Ministry of Corporate
Affairs
(d). The Intellectual Property Appellate Board (IPAB)
The Correct Option is (a).
57
58. 7. Who can do Valuation of IPRs?
(i). Merchant Banker
(ii). Registered Valuer
(iii). A licensee duly authorized by the owner of the intellectual property.
(iv). None of the above
(a) (i) only
(b) (ii) and (iii) only
(c) (i) and (ii) only
(d) (i) (ii) & (iii)
58
60. The valuation of INTANGIBLE ASSETS’s will
be done by the Registered Valuer appointed
under the provisions of the Companies Act,
2013
By Merchant Bankers
60
VALUATION ....
60
62. 7. Who can do Valuation of IPRs?
(i). Merchant Banker
(ii). Registered Valuer
(iii). A licensee duly authorized by the owner of the intellectual property.
(iv). None of the above
(a) (i) only
(b) (ii) and (iii) only
(c) (i) and (ii) only
(d) (i) (ii) & (iii)
The Correct Option is (c).
62
63. 8. Where the Intangible assets need to be disclosed?
(i) Annual Returns
(ii) Books of Accounts
(iii) Cash Flow Statement
(iv) Boards Report
(a) (i) only
(b) (ii) and (iii) only
(c) (i) and (ii) only
(d) (i), (ii), (iii) and (iv)
63
67. The books of Accounts shall be
maintained as per the Schedule III of the
Companies Act, 2013 and Intangible Assets
shall be disclosed in the Assets
classification
67
BOOKS OF ACCOUNTS….
67
69. Sector Intangible Assets Total Assets %
Pharma 22,601 491,163 4.60%
Automotive 182,612 2,424,798 7.53%
Power 42,490 4,106,981 1.03%
Media 11,876 134,902 8.80%
Banking - 26,585,316 0.00%
Telecom 980,636 3,110,090 31.53%
Oil and Gas 367,764 8,014,213 4.59%
Total 1,607,978 44,867,462 3.58%
Disclosure of Intangible Assets in Balance Sheet 2011-12 of 7 Sectors
based on top 5 companies in each sector
69
Disclosure of Intangible Assets
69
72. 8. Where the Intangible assets need to be disclosed?
(i) Annual Returns
(ii) Books of Accounts
(iii) Cash Flow Statement
(iv) Boards Report
(a) (i) only
(b) (ii) and (iii) only
(c) (i) and (ii) only
(d) (i), (ii), (iii) and (iv)
The Correct Option is (d).
72
73. PART-B-Paragraph question(5M)
• Mention any 5 instances which are referred
in the companies act 2013 as well as in the
companies act 1956 (each answer carries 1M)
73
74. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
74
SEECTION PARTICULAR
S
GIST OF PROVISION
6 Section 6 of
companies
act 2013 Sub
section 3 (ii)-
Explanation
For the purposes of these rules the term "same
network" includes the firms operating or functioning,
hitherto or in future, under the same brand name, trade
name or common control.
Note: 1. Individual auditor shall include other individuals
or firms whose name or trade mark or brand is used by
such individual, if any.
Note:2. Audit Firm shall include other firms whose name
or trade mark or brand is used by the firm or any of its
partners.
75. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
75
SEECTION PARTICULAR
S
GIST OF PROVISION
8 Section 8 of
companies
act 2013-
Names which
resemble too
nearly with
name of
existing
company-J.
Illustrations-I
& company-
K.
Illustrations-
III
(l) addition, deletion, or modification of numerals or
expressions denoting numerals in an existing name,
unless the numeral represents any brand;
One 11 Power Equipment Ltd is not the same as One
Power Equipment Ltd, if One 11 represents a brand:
76. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
76
SEECTION PARTICULAR
S
GIST OF PROVISION
16 Rectification
of Name
Section 16 on an application by a registered proprietor
of a trade mark that the name is identical with or too
nearly resembles to a registered trade mark of such
proprietor under the Trade Marks Act, 1999, made to
the Central Government within three years of
incorporation or registration or change of name of the
company, whether under this Act or any previous
company law, in the opinion of the Central Government,
is identical with or too nearly resembles to an existing
trade mark, it may direct the company to change its
name and the company shall change its name or new
name, as the case may be, within a period of six months
from the issue of such direction, after adopting an
ordinary resolution for the purpose.
77. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
77
SEECTION PARTICULAR
S
GIST OF PROVISION
54 Issue of
Sweat Equity
Shares
Section 54 of companies act 2013 read with rule 8 of
sub rule (i) A company other than a listed company,
which is not required to comply with the Securities and
Exchange Board of India Regulations on sweat equity,
shall not issue sweat equity shares to its directors or
employees at a discount or for consideration other than
cash, for their providing know-how or making available
rights in the nature of intellectual property rights or
value additions, by whatever name called, unless the
issue is authorized by a special resolution passed by the
company in general meeting.
78. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
78
SEECTION PARTICULAR
S
GIST OF PROVISION
54 Issue of
Sweat Equity
Shares
Section 54 of companies act 2013 read with rule 8 of sub
rule (ii) Issue of Sweat Equity Shares (ii) the expression
‘Value additions’ means actual or anticipated economic
benefits derived or to be derived by the company from
an expert or a professional for providing know-how or
making available rights in the nature of intellectual
property rights, by such person to whom sweat equity is
being issued for which the consideration is not paid or
included in the normal remuneration payable under the
contract of employment, in the case of an employee.
79. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
79
SEECTION PARTICULARS GIST OF PROVISION
54 Issue of
Sweat Equity
Shares
Section 54 of companies act 2013 read with rule 8 of sub
rule (8) The valuation of intellectual property rights or of
know how or value additions for which sweat equity shares
are to be issued, shall be carried out by a registered valuer,
who shall provide a proper report addressed to the Board
of directors with justification for such valuation.
Section no 2 sub section 88 of companies act 2013 "sweat
equity shares" means such equity shares as are issued by a
company to its directors or employees at a discount or for
consideration, other than cash, for providing their know-
how or making available rights in the nature of intellectual
property rights or value additions, by whatever name
called;
80. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
80
SEECTION PARTICULARS GIST OF PROVISION
123 SCHEDULE III "(ii) For intangible assets, the relevant Indian Accounting
Standards (Ind AS) shall apply. Where a company is not
required to comply with the Indian Accounting Standards
(Ind AS), it shall comply with relevant Accounting Standards
under Companies (Accounting Standards) Rules,
2006."], except in case of intangible assets (Toll Roads)
created under ‘Build, Operate and Transfer’, ‘Build, Own,
Operate and Transfer’ or any other form of public private
partnership route in case of road projects.
(b) Meaning of particulars are as follows :-
Where a company arrives at the amortization amount in
respect of the said Intangible Assets in accordance with any
method as per the applicable Accounting Standards, it shall
disclose the same.]
81. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
81
SEECTION PARTICULARS GIST OF PROVISION
129 SCHEDULE III [(iii) A reconciliation of the gross and net carrying amounts of each
class of assets at the beginning and end of the reporting period
showing additions, disposals, acquisitions through business
combinations, amount of change due to revaluation (if change is
10% or more in the aggregate of the net carrying value of each class
of Property, Plant and Equipment) and other adjustments and the
related depreciation and impairment losses/reversals shall be
disclosed separately.]
(iv) Where sums have been written-off on a reduction of capital or
revaluation of assets or where sums have been added on
revaluation of assets, every balance sheet subsequent to date of
such write-off, or addition shall show the reduced or increased
figures as applicable and shall by way of a note also show the
amount of the reduction or increase as applicable together with the
date thereof for the first five years subsequent to the date of such
reduction or increase.
82. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
82
SEECTION PARTICULARS GIST OF PROVISION
129 SCHEDULE III J. Intangible assets
(i) Classification shall be given as:
(a) Goodwill;
(b) Brands /trademarks;
(c) Computer software;
(d) Mastheads and publishing titles;
(e) Mining rights;
(f) Copyrights, and patents and other intellectual property rights,
services and operating rights;
(g) Recipes, formulae, models, designs and prototypes;
(h) Licenses and franchise;
(i) Others (specify nature).
83. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
83
SEECTION PARTICULARS GIST OF PROVISION
281 Submission of
report by
Company
Liquidator
281(1)Where the Tribunal has made a winding
up order or appointed a Company Liquidator, such liquidator shall,
within sixty days from the order,
submit to the Tribunal, a report containing the following particulars,
namely:—
(a) the nature and details of the assets of the company including their
location and value, stating
separately the cash balance in hand and in the bank, if any, and the
negotiable securities, if any, held
by the company:
Provided that the valuation of the assets shall be obtained from
registered valuers for this
purpose;
(b) amount of capital issued, subscribed and paid-up;
(c) the existing and contingent liabilities of the company including
names, addresses and
occupations of its creditors, stating separately the amount of secured
and unsecured debts, and in the
84. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
84
SEECTION PARTICULARS GIST OF PROVISION
281 Submission of
report by
Company
Liquidator
Section 281 (1)case of secured debts, particulars of the securities given,
whether by the company or an officer
thereof, their value and the dates on which they were given;
(d) the debts due to the company and the names, addresses and
occupations of the persons from
whom they are due and the amount likely to be realized on account
thereof;
(e) guarantees, if any, extended by the company;
(f) list of contributories and dues, if any, payable by them and details of
any unpaid call;
(g) details of trade marks and intellectual properties, if any, owned by
the company;
(h) details of subsisting contracts, joint ventures and collaborations, if
any;
(i) details of holding and subsidiary companies, if any;
(j) details of legal cases filed by or against the company; and(k) any
other information which the Tribunal may direct or the Company
Liquidator may consider
necessary to include.
85. INSTANCES OF IPR- REFERRED UNDER COMPANIES ACT,
2013
85
SEECTION PARTICULARS GIST OF PROVISION
455 Dormant
Company
Section 455 sub section 1 of companies act 2013 Where a company
is formed and registered under this Act for a future project or to
hold an asset or intellectual property and has no significant
accounting transaction, such a company or an inactive company
may make an application to the Registrar in such manner as may be
prescribed for obtaining the status of a dormant company.
86. • PART-C-CASE STUDY
• In the following cases who are the owners of the
copyrights, in terms of the provisions of Copyright Act,
1957?
•
• (1) Musical sound recordings
• (2) Works by journalists during their employment
• (3) Painting or portrait drawn at the instance of any person
• (4) Drafting of examination question papers
• (5) Book written by a teacher being an employee in a
college.
86
87. 87
• Owners of copyrights
The following are the owners of the copyrights:
• In musical sound recordings: lyricist, composer,
singer, musician and the person or company who
produced the sound recording
• In works by journalists during their employment: in
the absence of any agreement to the contrary, the
proprietor
• In works produced for valuable consideration at the
instance of another person: in the absence of any
agreement to the contrary, the person at whose
instance the work is produced
99. 1. Business Value addition
2. Distinguish product from similar products
3. Improve Value for Stake holders
4. Create a Business Image
Need For Intangible Assets
99
99
102. SAMSUNG Vs. APPLE –
IMPACT OF INTANGIBLE ASSETS
SAMSUNG was found guilty of
Infringing Apple’s patents for I-
PHONE.
SAMSUNG had to pay USD 1.05
billion in damages to APPLE.
10
2
103. How to protect Intangible
Assets and who has to follow
the same
Finally..
103
104. PROTECTION OF IA’s
The protection of
Intangible Assets
Intellectual property
rights
(formal protection)
Copyright
Patent
Trademark
Contracts
(semi-formal
protection)
Non-disclosure
Non-competition
Informal protection
methods
Secrecy
Restrictedaccessto
information
Databaseand
network protection
104
105. OVERALL FINDINGS
• Impact of
Share
value of the
firm
• Need for
compliances
relating to
Intangible
Assets
• Need for
awareness &
Information
on Intangibles
• Need for
Realization
and
Disclosure in
Financial
Statement
Management Investors
Share Holders
Legal
Professionals
Contd.
105
105
107. Broad forms of Security Interests
Forms of
security
interests
Specific
property
General
property
Tangible
property
Future
property
Intangible
property
Movable
property
Immovabl
e
property
Possessory
Interest
Non-
possessory
interest
Mortgage Charge or lien
Posses
sion
Nature of
interest
Quasi-
security
interests
107
108. Commonly used methods of valuation of
ASSETS
108
Discounted cash flow
Comparable transactions method
Multiples method
Market valuation
108
112. Measurement of Intangible assets:
112
MEASUREMENT
INITIAL MEASUREMENT
MEASUREMENT
SUBSEQUENT TO
RECOGNITION
COST MODEL
REVALUATION
MODEL
11
2
113. Measurement of useful life of Intangible
Assets
113
USEFUL LIFE OF AN
INTANGIBLE ASSET
FINITE LIFE
A LIMITED PERIOD
OF BENEFIT TO THE
ENTITY
INDEFITITE LIFE
NO FORESEEABLE LIMIT TO THE
PERIOD OVER WHICH THE ASSET IS
EXPECTED TO GENERATENET CAHS
INFLOWS FOR THE ENTITY
11
3
116. Need for valuation
Investors
To analyse
best
investment
option
INVESTORS SHARE HOLDERS
To assign true worth of the company
MANAGEMENT
To measure performance of the company
INDUSTRYAS A WHOLE
For the growth of the economy
REGULATORS
To maintain transparency,
Perfect compliance&
Better employment
To analyse best investment option
Financiers
to assess the borrowing
capacity of a company when
arranging funding facilities
116
11
6
121. LEGAL PROVISIONS RELATING TO
INTANGIBLE ASSETS –INTERNATIONAL
Legal
provisions –
International
• WIPO – World Intellectual Property Rights
Organization
• The Agreement on Trade-Related Aspects of
Intellectual Property Rights (TRIPS)
• THE PATENT COOPERATION TREATY
• International Financial Reporting
Standards(IFRS)
• IAS38 – Intangible Assets
• IAS13 – Fair value Measurement
• IAS 36 – Impairment of Assets
• IFRS 3 – Business Combinations
121
121
122. Legal Provisions relating to Intangible
Assets- National
Patents (Amendment) Act 2005 & Patents (Amendment) Rules, 2006
Trade Marks Act, 1999 & Trade Marks Rules 2002
Copyright Amendment Act 2012
Indian Accounting Standards
• AS26 – Intangible Assets- Recognition, Measurement, Amortisation & Disclosures
• AS14 –Valuation of Intangible Assets acquired by way of Amalgamation
• AS12 – Valuation of Intangible Assets acquired by way of Government Grant
• AS22 – Deferred Tax Assets
• AS19 – Accounting for Leases
• AS21 – Goodwill arising on consolidation
Indian Companies Act
Insolvency and Bankruptcy Code 2016
122
123. Is there any relationship with
ITA with Shares???
Share transfers
125. WHAT IS THE ROLE OF
COMPANY SECRETARY IN
INTANGIBLE ASSETS?
Finally,
125
126. 1. To Act as a Attorney matters relating to Intangible
Assets.
2. To Appear before the Tribunal
3. To Act as Strategies for allotment of the Securities
through the IPR
4. To Draft the Agreements-
a) Assignment Agreement
b) Franchise Agreement
5. To ensure necessary compliances as mentioned in
the law.
6. To arrange the International Funding
7. To set up a company with strategic & financial
Investors
ROLE OF COMPANY SECRETARY…..
126