Thursday, August 16, 2012
IP -Intellectual Property - the "Intangible" Asset Class with Real Financial Value (Part 1 Copyrights - Music & Film)
In Draft to consider the points we may help Artists on Financials, Taxes and other needs or Attys on related support services.
As a CPA Practice our goal is to support Businesses in various Sectors on needs that deal with Financials, Accounting, Taxes, Compliance, and Management level decision making in Strategic and Operational capacities to support Financial Decision Making.
This is an important skill to bring to the community of Creative Artists where the work of creating Art through Music, Art, Writing, Film or other avenue is a considerable task that needs attention. As you Focus on your ART considering that it may be better sustained as a Career path where Financial skills are in place on your support team to protect your Financial Assets. With services that include Accounting, Financials, Tax Compliance and a Strategic approach to managing the financial element of Creative Arts through supporting Artists with Financial skills.
On that note we bring you to an important point where our skills and experiences
with the Creative and Artistic Community as well as the Financial Services and General Business Sectors meet. For related Accounting, Tax, Financial or other Advisory Services and corresponding Legal Support Services (for Attorneys) on Expert Testimony, Paralegal or Litigation paralegal support interests on services. reaching out to the Artistic Community of Creative Artists, Musicians, Writers and Film communities in Our Economy. Our landing page for the Musical Community is http://www.dcarsoncpa.com/resources/ip_-_intellectual_property and we will soon have other specific pages defined for relevant other areas.
Each day through process of research and through following the news from Public Finance, Legislation, News and the Courts it is evident to us where there are opportunities to better support the Artistic community that in brief includes Artists, Musicians, Writers, and the Film Community from the Financial Perspective.
A clear and important part of this need is through Accounting and using the tools of Financial Decision Making. With knowledge of Financials to better protect the Financial Interests of Creative Artists. We have Financial expertise that can help to better inform and protect you on Finances with insight through Financials. To additionally support your reporting needs with Tax Compliance.
We connect to Creative professionals with Financial skills from Industry and with an appreciation that although in Accounting Terms your works may be defined as "Intangible" Assets or in Compliance / Legal terms defined as "Intellectual Property" (IP) you are engaged in creating Real Financial Value. The best way to Financially oversee your Creative Properties of Financial Value is to use the tools of Accounting, Tax and other related Financial Analysis and Compliance terms to track the Assets you create with the established tools of Financial Management.
We focus on Financials and the Business end so you can Focus on your Creative skills, but are also interested in helping you grow Business skills for insight to Financial Decision Making tools to support your needs from the Business end.
Reinforcing that even as an Artist the Financial element of your Operations is a Business it's important to consider the protection of the Creative Works you make as Intellectual Property which is in Accounting terms an "Intangible" Asset with real financial value.
To create IP or and Intangible the first step is always to File and Protect your Creations a process best supported with Legal advice from an Attorney specializing in Intellectual Property or Copyright Laws to be specific.
If you are just starting on your path as an Artist and you do not have the Financial ability to contract an Attorney - you should consult your Local Bar to see if you may connect with pro bono (for good - no charge or low cost) Legal support. The course of last resort would be to prepare your own filings where you may not succeed on the two points above. This is possible but not without risk as Intellectual Property is a Legal Property right best evaluated with professional skills by an Attorney (and we are not Attorney's and provide NO Legal Insight; rather our point is Financial and Control driven for Accounting purposes with some insight to how an IP Asset comes to life as an "Intangible Asset". In all scenarios the goal is protection of the Financial Value in your Creative work through your own Independent pursuit of protected interests through Actions (taken in Legal Steps) that ultimately may create a Financial Asset with Business Value.
We are NOT Attorneys, but we are Financial Professionals with strong Accounting, Financial, Tax and Compliance skills to connect with your interests in IP from a Financial perspective and can partner with your Attorneys or work directly with you as best suits your needs.
As you grow on the path of creating IP you will have Assets with corresponding Revenue Streams and although you may be a very fnancially successful artist, in that dimension you also become a business. The best thing you can do to be a business person in Financial terms is to use the tools of Accounting to develop Financials, track Assets, Liabilities, Ownership, Revenues and Expenses to manage your Financials. To build and maintain wealth it is best to track that wealth.
We are on the Strategic and Operational side and can offer investment neutral services to protect your wealth as our focus is on the Accounting, Tax and Financial Analysis of the matters currently. This means that we can on an inteim basis produce Financials that will help you track Royalties, track your Assets and Lead your ART as a business decision maker for Long term success. The best way to manage Financials is to build Financials for insight and we can teach you how to better understand the numbers and financials in context to your ART.
All that stated below please find links to important background information explaining Copyrights and then specialized Copyrights for Music and Film in overview.
We are pleased to assist you on related needs on Financials, Taxes and Busines growth where you have corresponding needs. You can find our contact information below.
DCarsonCPA.com for Financial Decision Makers in Government, Industry, Non Profit and Individual roles with a close connection to both the Financial and Creative Industries through experience in Business and Music at Berklee College of Music. We work with the knowledge of Financials and related Accounting, Taxation, Economics, Statistics, Finance, Taxes and Regulatory Compliance that connects Decision Makers. Learn more at www.dcarsoncpa.com or e-mail firstname.lastname@example.org .