When business people plan a save harbor of intellectual property (IP) they consider a wide spectrum of legal tools to maximize the protection of IP assets. The main point is that IP protection strategy should be kept from the beginning of creation, during its development until a design is complete. The strategy of securing design ownership starts with recognizing a design as a potential asset, and continues to carefully plan its protection throughout the lifetime of a design optimizing IP protection and reducing infringement risks. It may include these specific goals.

Goal 1: “Generate design research. It should be done prior to the design challenge early in the long- term planning phase and in the concept generation stage of new product development. This general research includes a state of-the-art search of patent literature (patents and published patent applications), which is analyzed by the IP counsel and shared with the development team to spark design innovation. Just as the iPod design team would have looked to Sony’s 1979 Walkman and related patents for inspiration, design development teams benefit from studying past design efforts.” The good example of such research could be list of the following questions:

What’s the core intellectual idea or invention?
How easily can it be duplicated?
How did the idea/invention come about? Was the inventor working at another company? Was she a university researcher?
How might you protect against duplication via a patent, trademark, copyright, or some other vehicle?
How visible will the invention be within your product or service?

Goal 2: “Avoid designs owned by others. Identify IP risks associated with the proposed design concepts-ideally, in the feasibility stage of new product development-so that risky design concepts can be screened out early. Once a design concept is selected for further development, a targeted search looks for patents relevant to that design concept. As needed, the IP counsel facilitates a “design around” to place the final design outside the scope of IP rights of others.”

Goal 3: “Secure IP rights. IP counsel leads the development team’s efforts to protect selected design concepts in the feasibility stage of new product development. IP protection is sought not only for the preferred design concept but also for alternative concepts that may later be preferred by the company or the company’s competitors. Before product launch, the IP counsel ensures that IP protections are in place, including foreign protection when a product will be sold or licensed overseas. And upon product launch, the IP counsel establishes procedures for monitoring the activities of competitors to police IP rights.”

Goal 4: “Enforce and expand design assets. Even after design protection has been secured, steps should be taken in the active lifecycle phase to enforce IP rights. New competitive advantages can also be sought during the active lifecycle phase in connection with design improvements.”

Goal 5: “Harvest design assets. In the decline or exit phase in which a design reaches its sunset, the IP counsel can help extract value from IP assets. Instead of allowing them to go unused, IP assets can be harvested at this final phase by licensing or selling IP assets to other companies or by using those assets as leverage to settle disputes with other companies.”

The best way to protect IP assets is to follow the simple rule of “Be aware!” In other words, it is the responsibility of business people dealing with their intellectual property to manage IP assets protection by the implementation of the effective corporate intellectual property strategy. Undoubtedly, afore mentioned 5 steps of this strategy will help to save a lot of money.

New business opportunity! 8 times a year Economic Development Authority of the United States Virgin Islands conducts public hearings to provide small businesses tremendous industrial development benefits including substantial reductions in or exemption from the business and personal taxes.

Generally, before to run to the new place business people need to know what a new business opportunity really is and how a government regulates it. But whatever you decide to do in the Virgin Islands, to buy an independent business or a franchise, here is the place for a business.

90% exemption on local income tax, 90% exemption on dividends, 100% exemption on gross receipts taxes, 100% exemption on property taxes, 100% exemption on excise taxes and 1% custom duties. But to qualify to that business investment paradise a business needs to be engage in one of the following: light manufacturing, service businesses as high technology assembly plants, pharmaceuticals corporations, agriculture, finance and hospitality.

Those business people who invest in the Virgin Islands enjoy generous benefits of their administration which cares of Islands growth, development and diversification. According to the Economic Development Commission in 2003 about 95 companies employing about 9,000 persons received tax benefits.

Although the only companies from very specific industries are eligible to apply, if a company seeking investment opportunity in the Islands is outside of the determined group but will advance an economic well-being of their inhabitants anyway the Economic Development Commission has a special authority to grand benefits. This flexibility of government agency is amazing and contributes to a very specific entrepreneurship atmosphere on the Islands.

As to the Small Business opportunities in the Virgin Islands, if a business conducts an activity in the manufacturing gifts and crafts mainly for tourists it may receive tax benefits for 5 years. The only criteria are business investment of minimum of $20,000 with at least two employees and a meeting the Minority Small Business Development Loan requirements.

U.S. Virgin Islands: year around tropical weather, beaches, shopping, exceptional dining, hotels and comfortable business environment. People, isn’t it a paradise?