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As intellectual property plays such a vital role in the key activities of many businesses, it is important not only that it is properly protected and used but also that third party rights are not infringed.

It would be unthinkable for a business not to have a list of its tangible assets such as machinery and buildings, so why would a business consider it acceptable not to have a list of its intangible assets? Increasingly, businesses are carrying out audits of their intellectual property so that they can recognise, protect and exploit them.

Small businesses are the life blood of most economies in terms of their capacity to innovate and so to create wealth and employment.

In today’s knowledge economy, it has been estimated that over 80% of any company’s value lies in its intangible assets, namely its Intellectual Property and its Intellectual Assets.

The Isle of Man has a well-developed and active fintech community covering a broad range of sectors, with a welcoming and supportive government.

This Act repeals the European Communities (Isle of Man) Act 1973 and makes provisions consequent upon the withdrawal of the UK from the EU (Exit Day).

The 2024 guide to fintech law in Isle of Man covers the following topics...