Jersey’s intellectual property laws are nearly 100 years old, and are poorly suited for the needs of a modern economy, and a digital age. When the original laws were drafted in 1911, few can have foreseen the information flow of the present age, or the variety of media we utilise on a day to day basis. If we fail to modernise these laws, we jeopardise our status as a first world economy. So, the need for an update is clear, but is there a further possibility that these laws could offer Jersey a business advantage?
Last year, I was asked by Economic Development to draft a business plan for Intellectual Property (IP) in Jersey. Essentially, the question I attempted to answer was: can Jersey make money from IP? The answer is, of course, a resounding yes. The worst case scenario is an increase in registration fees, and associated legal activities (infringement is the easiest way to monetize IP). The best case scenario is that Jersey becomes the foremost tax neutral jurisdiction in which to conduct IP related activities.
In either scenario, there is clear merit in investment. So, being an optimist at heart, I’d like to describe how the best case scenario might look.
Even in the absence of an IP legal framework, the Island already plays host to some of the most distinguished names in IP. CPA, Lysaght, Spoor Fisher, to name but a few, are already highly visible employers and strong contributors to the local economy. The presence of world-class law firms, and fund administrators means that the supporting infrastructure is already here. Added to which, the unloved fulfilment industry has blessed Jersey with a concentration of e-commerce talent.
In addition to updating legislation, we need to take a bolder step towards providing full registration services, and creating a private-public partnership (in the mould of Jersey Finance Limited), that would be mandated to promote IP opportunities globally. The Intellectual Property Commission (IPC) would not just represent the interests of IP practitioners and rights-holders in Jersey; it would promote IP activity and guide the establishment of IP in Jersey.
This partnership between government and industry gives Jersey a chance to solve some significant problems, especially in the area of online intellectual property verification. A Jersey based registry, in conjunction with the IPC could run an online verification service, which would be effectively government backed. This would be a world-first.
Moreover, the skills already present in the Island give a fertile bed for new IP-related business startups. A private-public venture capital fund could easily be established to attract such ventures to the Island, and provide a compelling investment rationale for part of the strategic reserve.
But for these green hat thoughts to become a reality, we need legislation, and we need it fast. Without legislation, it would be like promoting train timetables without either a train, or rails to run on. The project to update Jersey’s IP laws began nearly ten years ago. However, I’m pleased to report that the pace has picked up over the last year. We should see the revised copyright law lodged with the States in the early part of 2010, and with work on registered rights beginning shortly afterwards. I’d hope that there would be willingness from States Members to prioritise law drafting time for IP, and I’d hope that updating these laws will be seen as positive, and non-contentious. But then, I am an optimist at heart.
Phil Balderson
Emerging Industries Committee
Annual Charity of Choice