Offshore Intellectual property Business in Florida
Intellectual property, in general, can be considered as artwork or creativity of the human mind is used by the business entities, and are intangible assets that need to be protected. The growing speed of the offshore industries not only allows the business investors to protect their assets and wealth but also provides them with the flexibility to safeguard the intellectual properties by incorporating an offshore business entity.
Florida, a favourable offshore business destination, has been widely accepted by the international investors to set up their offshore unit. Right from tax exemption to entering in the forex market, the region has a bundle of benefits. At the same time, it also provides the essentials to protect the business creations by setting up an offshore entity.
If you are looking forward to safeguarding your business creations , then you can count on to proceed with Florida offshore company incorporation. This guide will help you to understand the core essentials required to be followed.
According to the World Intellectual Property Organization (WIPO), the intellectual properties, in other words, the human arts can be categorized as:
- Trade Secrets
When it comes to the usage of IP in the offshore segment, a business owner needs to proceed with the incorporation process of an offshore business entity to protect the respective IP. In most cases, a holding company gets incorporated, whose primary task is to hold the shares in other business units.
How to Set Up an IP Holding Company in Florida?
The process of setting up a holding company in Florida involves the following steps:
1.Get a Clear Idea on the Tax Haven Jurisdiction
The very first move is to get a clear idea of the selected tax-haven jurisdiction. Since here, you are focusing on Florida, make sure to get a clear view of the offshore company incorporation process in Florida.
2.Incorporate an IBC
In the next move, you need to incorporate an International Business Company (IBC), which is one of the most chosen business structures. To proceed ahead, you need to submit the required set of documents to your business advisor, who in turn, will help you to grab the permissions from the relevant government authorities at ease.
Here’s an IBC Guide for Florida, that will help you to know the process in-depth and answer all your relevant questions on the setup process.
3.Assess the Company’s IP Portfolio
Before you transfer, make sure to have a clear picture regarding the intellectual properties that your business entity holds. Certain specifics are to be looked into, such as:
- Is everything registered?
- Is any trademark or patent application pending?
4.Assign the Ownership
After the company gets incorporated, you need to transfer the ownership to the established business entity. The legal formalities are to be cleared in consultation with expert’s advice, and thus, can be carried out in a hassle-free way. The legal transfer authenticates that the business entity is holding the IP creations legally. The license agreement also includes the controls over third-party designed to prevent “naked licensing” or forfeiture.
Based on the different intellectual properties held by the business entity, the company has the flexibility to direct IP Licenses to the third-party to sub-license for any specific region. This is the final step in the process that needs to be completed in an error-free way.
Why Move IP Assets Offshore?
Specific reasons that provoke the business investors to move their business creations to offshore destinations involves:
- Cost-Benefits Analysis
- Mitigating Tax Liability
- IP Asset Protection
- High-end confidentiality
Whether you are an MNC or a startup investor, protecting your intellectual properties is a must, which can be done through an offshore account. Accordingly, this turns out to be the safest and most comfortable option. Any intellectual property holds a commercialized value that can be monetized at any time (especially in an emergency).
At Business Setup Worldwide, we help our esteemed clients to register a holding company and safeguard their assets accordingly. Our experienced business advisors are well-versed with the offshore company setup process and can help you to protect your business assets at ease. If you are looking forward to protecting your business, feel free to have a word with our experts. Contact us today-we’d be glad to assist!