Who We Are
Business Setup Worldwide is a platform to help you start your company. We facilitate the setup of your business through services like incorporation, registration and licensing.
We are a bedrock with your business objectives at the centre of our operations. We specialize in business-oriented support activities, in face of the ever-changing global executive environment. We take pride in our ability to adapt to the market and devise innovative strategies to aid firms with their vision.
Business Setup Worldwide's proprietary business design techniques, combined with its specialized industry knowledge and global reach, enable companies to anticipate changes in customer priorities and the competitive environment, and then design their businesses and improve operations to seize opportunities created by those changes.
Why Does a Business Need Intellectual Property Services?
Intellectual property (IP) can be defined as the innovative and original product of human intelligence, creativity and/or mental labour that has some market value, and therefore calls for protection under the law. IP is usually non-material, for instance, ideas, logos, literary works, inventions, and names of services, products or companies. The owners of these non-material things have exclusivity on those and can manufacture or use it mostly in any way, provided they are protected through appropriate IP rights.
How Intellectual Property Services Work
The 3 forms of intellectual property are patent, copyright and trademark.
- Patent: A patent is allotted to inventors for inventions. It can be anything from equipment, tools, processes, chemicals, technology, software, etc. Patents come under the regulations of the Cypriot Patents Law, last amended in April 1998. This law has established the existence of an independent authority patents can be registered with: both national and international patents can be registered with the Register of Patents in Cyprus. It will publish the patents in the Official Gazette, keeping records of all patents registered with it. The new law also states that Cypriot patents must be renewed yearly. Depending on the payment of the renewal charge, patents are protected for 20 years in Cyprus. The new law also enables compulsory licensing for patents in Cyprus.
- Copyright: Copyright applies to authors of books, paintings, photographs, radio/television programmes and software, and was implemented in order to fight copying of videotapes, audiotapes, artistic work and computer software. Copyrights are protected by the Cypriot Right of Intellectual Property Law 59/76. Copyright protection is enabled for residents, legal entities registered in Cyprus, foreigners that reside in the country and for offshore companies registered in the country. Foreign works are also recognized, according to the international conventions on intellectual property Cyprus has signed. Copyrights are protected during the author’s life, up to 50 years after their death.
- Trademark: Trademark refers to phrases, symbols, logos, slogans, etc., that are related to a business and product. It comes under the regulations of the Trade Marks Law whereby goods and services are separated into 34 and 8 classes, respectively. Only genuine trademarks can be registered in Cyprus. They must be registered with the Trade Marks Registrar, whose application can be submitted by a Cypriot lawyer only. Trademarks are protected for 7 years after registration and may then be renewed every 14 years.
Benefits of Intellectual Property Services
- An intellectual property registration adds great value to business authenticity. By filing an IP, the businessman gets the legal right to ownership of the IP, and the right to prevent others from using the IP without permission
- An IP enables one to protect one’s market share by preventing impostors from using the same concept or idea
- The IP can be licensed to third parties for commercial returns
- The IP can be sold for an amount or even used to raise equity for the business
As a specialist firm, Business Setup Worldwide offers the complete spectrum of intellectual property protection services. Our team comprises intellectual property lawyers and trademark registration consultants, to facilitate the IP protection process for you. We are well equipped to protect your intangible assets.