Intellectual property and business: an underestimated relationship

Before exploring the main advantages of intellectual property protection, it is worth understanding what the latter entails. In particular, intellectual property is a form of intangible property, consisting of the creations, ideas and concepts developed by individuals, natural or legal persons. In terms of accounting, intellectual property is anintangible asset of high value and international appeal. In order to exploit the economic value of intellectual property, its registration before the competent administrative authorities is a prerequisite so that the property and, by extension, the rights associated with it belong to its creator. There are four types of intellectual property that can be registered around the world. These are copyright, trademark, patent and trade secrets. The analysis and specification of the above types are outside the scope of this article.

Already a few days ago, a grant fund of €20 million was launched. EUR, which aims to help small and medium-sized enterprises based in the European Union to access and benefit from its intellectual property rights. European small and medium-sized enterprises are vital to the European economy, providing 67 % of total employment and accounting for 99 % of all EU businesses. Although only 9% of all EU SMEs own intellectual property rights, SMEs that have registered their intellectual property have higher incomes by almost a third per employee than SMEs that have not registered.

If your company is based in Cyprus, contact us to inform you about how to register your intellectual property, the many advantages of your intellectual property and the corresponding tax benefits. Contact the specialized executives of ADVANCED CONSULTANTS S.A. for the registration and accounting of its assets as well as its participation in the European grant program. Together we can give her business the boost it needs to increase its profits and reputation.