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Patents & Innovation Warranties
Patents protect the functionality of
an item, last for 20 years and give the owner a monopoly right to
produce and sell that item in the territory concerned. Just like
other IP rights, a patent can be licensed, sold, and commercialised
in order to extract the most value from the invention. Throughout
the world, patents provide inventors with an easily verifiable
right which has real commercial value.
New laws regarding the registration
and protection of patents in Guernsey are expected to come into
force in early 2010. The combination of this cutting edge
legislation and the tax advantages of holding IP assets in Guernsey
makes the island a potentially lucrative platform from which to
register and exploit patents.
Although Guernsey does not provide for
first registration of a patent, any overseas proprietor of an
overseas registered patent may be registered as the proprietor of a
patent in the Guernsey register.
Provided that this criteria is
fulfilled, and the invention is new, contains an inventive step and
is capable of industrial application, the invention may be
protected through placement on the register.
There are also further exciting proposals to allow the
registration of an Innovation Warranty, the equivalent of the Petty
Patent system used elsewhere. Please contact us for further
information on this forthcoming legislation.