Cholena Cchaturvedi : CC: Do companies, which enter licensing, enjoy any kind of tax exemptions granted by the government? Nicholos Bloom : NB: There is no such arrangement in any country except in Singapore. As per the provisions of the Singapore Income Tax Act, a company is obliged to withhold tax with respect to certain payments, made to non-residents of Singapore, like interest, licensing fee, royalties, and management fees among others. The withholding tax rates for royalty and licensing fees is 10 per cent. Cholena Cchaturvedi : CC: How do organisation like yours that are based out of India make the most of events and shows such as recently concluded Brand Licensing Show 2009? Nicholos Bloom : NB: As I mentioned earlier, Beanstalk boasts of a global network through which it develops and manages licensing programs for both local and multi-national clients. Brand Licensing Show 2009 offered us a platform to enhance our network. The show also helped us come across many licensing opportunities in the country. Through the conference and knowledge series we got to know how the businesses in India have come out of the cocoons and are ready to explore the licensing opportunities. Cholena Cchaturvedi : CC: Throw some light on the importance of role of licensing agents. Nicholos Bloom : NB: A licensing agents’ role is of immense importance to both a licensor and a licensee. Any brand that is exploring licensing for the first time or has an existing licensing program, which it is looking to optimise can avail of the expertise offered by licensing agents. The experienced consulting team of the agency can conduct an independent, astute licensing program assessment, which may be difficult for the brand to do on its own. Moreover, an agency has local agents in almost every country that can enable a brand to venture foreign territories as well. For retailers and manufacturers seeking to create meaningful differentiation and gain competitive advantage, licensing agents service applies a strategic approach to identify, develop and manage the appropriate retail exclusive opportunity. We (agents) promote a business in a way that it produces a viral effect. Cholena Cchaturvedi : Cholena Cchaturvedi (CC): Give us an insight into your company with respect to the expertise/services offered. Nicholos Bloom : Nicholas Bloom(NB): Beanstalk is a leading brand licensing agency and consultancy based in New York. We help build brands by means of developing well-designed, high-quality, compelling licensed products having strong consumer appeal, supported by in-depth strategy and marketplace knowledge. Over the past three decades, the company has developed and refined a proprietary methodology that enables brand owners, manufacturers, and retailers to reap the benefits of a well-managed licensing program while mitigating risks. A dedication to client service is at the core of the process, and each account team is staffed to provide the most effective and comprehensive licensing expertise. Our global network enables us to develop and manage licensing programs for both local and multi-national clients. Beanstalk is part of Omnicom Group, a global leader in advertising and marketing communications, and is a proud member of LIMA.
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