Collaboration has become the new cool, not only in the business landscape but in almost every industry. The Irish jurisdiction is in great support of joint ventures and establishing a joint venture in Ireland comes with a number of benefits. Ireland even has a government agency (Enterprise Ireland) set in place for the development of local Irish companies and the development of successful joint ventures. Enterprise Ireland is also responsible for innovation, technology transfer among other calculated alliance arrangements.
There are no formal restrictions when it comes to joint ventures in Ireland. The agreement signed between the two companies is the basis upon which the two parties are to cooperate. Quite a significant number of international companies have engaged in licensing arrangements and joint ventures with most manufacturers in Ireland. The Irish jurisdiction does not impose any statutory restrictions on the details of the licensing arrangement, the number of royalties etc. Nonetheless, a global company which wants to license the legal use of its trademark to an Irish entity should designate the license as a registered user and a proper application should be drafted so that there won’t be legal issues in the future.
International companies planning to form joint ventures with Irish entities should make sure they are fully informed about all the bits and pieces of the agreement.
If you ever encounter any obstacles or if you need any assistance, you can reach out to our expert consultants at SIGTAX. Our well-informed and friendly team is ready to answer all your burning questions and offer you professional advice.