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?

IDEO Product Development, Inc. is an internationally recognized product design firm with world-class clients, offices on four continents, and a staff of talented business people, developing superior products.

“Computer mouse”, Apple (U.S.A.); “New notebook computer”, NEC (Japan); “Water bottle for mountain bikers”, Specialized Bicycle Components (U.S.A.); “Cordless office phone”, Dancall (Denmark); “Datum shelf”, an office desk, Pathways (U.S.A.); “Palm V”, handheld organizer, Palm (U.S.A.); “Kid’s fishing kit”, Berkley Outdoor Products (U.S.A.); “Computer input device for children”, Philips (the Netherlands); “Toothbrush for children”, Oral-B (U.S.A.), “Neat Squeeze toothpaste tube”, Crest (U.S.A.). So far, IDEO has designed more than 3,000 creative things and most likely creamed off more design awards than any other firm of its kind.

Design changes our lives, especially good designs. It can simplify our life and positively influence our environment. The process of design is endless and is defined by the needs of the market. The more that designers co-operate with businesses people, the more design has the potential to improve and add value to every aspect of our life. It is without question that value is added by innovative design. But the full commercial value of design is unrealized if it can be copied by competitors, without consequences. Therefore, invention owners are responsible for transforming their creation into a valuable and protected asset. Design ownership provides exclusive design domain, which means the freedom to use the invention without infringing on the rights of others and the right to exclude others.

The main goal of strategic design protection is to secure design ownership and formulate it as a “Protected Design as a Commercial Asset”. When it comes to evaluating IP assets, IP is often more valuable than physical assets such as a building or machinery. Put simply, IP assets increasingly take center stage. For example, Caroline Davidson created Nike’s swoosh design in 1971 for a mere $35, however that iconic symbol has evolved into a prime asset for Nike. And an hourglass-shaped bottle, designed by the Root Glass Company in 1916, became and remains an immensely valuable asset for Coca-Cola.

Bottom line, the importance of the topic is directly related to the design strategy of any product development company and its intellectual property protection. Design innovations such as advance aesthetics, performance, manufacturability, and brand identity can only survive and be developed under the support of IP rights. The value of intangible assets generally is significant to its owners and the best solution for the legal protection of design patents and of patent owner interest is a comprehensive strategy. It seems to be an important creative thing which business people successfully do.