Learn how to Create wealth

SEMINAR GIVES NEW TOOLS TO FINANCE CREATIVE IDEAS


Arts and Entertainment industry professionals have a first ever opportunity to learn the latest international methods in putting a dollar figure on their creative assets including songs, books, films, architectural designs, videos, and photographs, in the upcoming PricewaterhouseCoopers Seminar entitled, “Intellectual Property: Take it to the Bank!”, on Wednesday, 9 July 2008, at the Terra Nova All-Suites Hotel from 8:30 a.m. to 2:30 p.m..

This event is co-sponsored by Foga Daley & Co. and the National Ex-Im Bank of Jamaica Limited. Leaders in Intellectual Property legal issues and investment funding will assist IP owners to structure and value their assets to attract financing, facilitate buying and selling of IP and to qualify for asset insurance.

The seminar is targeting a range of professionals, including Music and Film Producers; Artiste Managers; Writers; Performers; Musicians; Financiers; Accountants; Publishers; IT Solution Providers; Designers; Inventors; Architects; Bankers; Entrepreneurs; Producers and Manufacturers.

**

The IP contribution to the Jamaican economy was formally measured in a recent study, commissioned by the WIPO on behalf of the Jamaica Intellectual Property Office. Data gathered indicated that the copyright sector contributed 4.8% or J$29 billion to Jamaica’s gross domestic product in 2005 and also accounted for 3.03% (approximately 32,000 persons) of the country’s employment during the same year.

The World Intellectual Property Organization (WIPO) defines Intellectual property as “creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce. Intellectual property is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright. Such creations include literary and artistic works such as novels, poems and plays; films; musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs.”

Participants will benefit from presentations and discussions, which will give insight on the legal framework for protecting proprietary rights; determining potential value of an Intellectual asset; and the use of these assets to leverage financing. A range of mechanisms applied in a typical financing structure will be outlined, from which participants will learn how to understand the mechanics and methodology for valuing these assets.

Presenters at the seminar have in-depth knowledge and experience in IP valuation. However, exercises will be specifically focused on recorded music, film entertainment and software development.

Dianne Daley, a partner of Foga Daley & Co., the regional leader in IP Legal issues will discuss the legislative framework protecting intellectual property assets. Daley will explain the protection offered by the various laws, primarily under Jamaican legislation, and will address various types of legal agreements and contracts that are typically structured in transactions.

Aron Levko, PwC Partner, Chicago, a 22 year veteran of the firm is a Principal and founder of PwC Intellectual Asset Management Practice. He has extensive experience working with corporate management, entrepreneurs and trial lawyers in a broad range of industries. With multiple accreditations in related fields, he specializes in intellectual property transactions, business valuations, dispute resolutions and portfolio management.

Levko explains the current prominence of the IP issues, “Intellectual property has grown in importance to be the predominant asset value in corporations, rising to over 70% of total market value for the S&P 500*. However, most companies do not apply the same level of management to IP assets as they do their facilities, equipment, or even their office fixtures”. In his session, Levko will explore the various bases of IP values, valuation methods, and risk assessments for better management of IP assets. He will present a broad range of applications, including transactions, tax planning, business strategy, financing, compliance and litigation support.

David Daly, a director of PricewaterhouseCoopers LLP in New York, will present a number of commonly used forms of financing structures, designed specifically for intellectual property asset securitization. He will draw on his experience as a subject matter specialist in recorded music, filmed entertainment and licensing management and contract compliance.

In addition to the presentations, the seminar will be opened with a keynote address by The Honourable Audley Shaw, Minister of Finance and the Public Service, while Honourable Karl Samuda, Minister of Industry, Investment & Commerce, will close the seminar.

There is a nominal charge for participation in this seminar, which will also include lunch. PricewaterhouseCoopers is still taking registration for participation in this seminar and is inviting interested persons to confirm their attendance as soon as possible, as space is limited.