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Simcocks has prepared this briefing in response to the substantial updating of Manx IP law that has recently taken place or is in progress.

The Isle of Man has ratified the key international IP treaties/conventions and, as such, an Isle of Man company is the best offshore vehicle for holding IP rights.

It may have gone largely unnoticed, but the publication in December 2006 of the Gowers Review of Intellectual Property, is one of the most important reports issued in relation to Intellectual Property in the United Kingdom.

Under the Manx and UK copyright legislation it is not an infringement of a design document to make industrially articles in accordance with the design which are not themselves artistic works, including works of artistic craftsmanship.

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.