Tag: 16. Oktober 2021

If you work in a creative field, it is important that you understand the concept of „work for rent“ – even if this term applies to the work you create and does not apply. Are you interested in promoting your career, personal development, networking and giving back? Then WITI is the right place for you! Become a WITI member and get exclusive access to our WITI events, webinars, online coaching circles, find mentoring opportunities (become a mentor; find a mentor) and much more! Even if a Member State of the European Union provides for the possibility of a legal person being the original rightholder (as is possible in the United Kingdom)[10][11], the term of protection is generally the same as the copyright provision for a personal copyright, i.e. for a literary or artistic work. 70 years from the death of the human author or in the case of the works of the Miturge, 70 years from the death of the last surviving author. If the natural author or authors are not subsequently identified or known, the copyright period is the same as for an anonymous or pseudonymous work, i.e. 70 years from the publication of a literary or artistic work; or, if the work was not published during that period, 70 years after its creation. [12] (Copyright periods for works created before 1993 may be subject to transitional provisions). [13] NO: If the answer is no, the analysis ends – not „work for rent“ for your business. (Houston, you may have a problem) This is the simplest scenario in the „work for hire“ analysis, but especially among my start-up clients, it is of course also the least common. In general, a copyrighted work is the exclusive property of the person who created it (and provided that the author has not transferred all or part of the copyright to someone else).

This is the default rule. If, on the other hand, the work is created by an independent contractor or freelancer, it can only be considered a temporary work if all of the following conditions are met: Accordingly, the Copyright Act has created a „work made for hire or reward“, that is, a work prepared by an employee in the course of his employment. OR a specific type of work specifically ordered or ordered for use, provided that it has been expressly agreed in writing. In such cases, the employer or the person commissioning the work is considered the „author“ of the work. QUESTION 3: Was the work specifically commissioned or commissioned to be used as one of the nine categories of works listed under 17 U.S.C?.

If a company has a choice between leasing and hire-purchase, it should assess the financial viability of both proposals using normal capital budgeting methods. We would prefer the technique of comparing the current values of the net after-tax outflows of the two options. The option with a lower present value of cash outflows means lower costs and should therefore be chosen. Hire-purchase is also known in Australia as commercial hire-purchase and business leasing (both abbreviated CHP). Hire Purchase was introduced in Australia in the early 1960s by Les Meteyard and its (currently unknown) business partner. We can say that the hire-purchase agreement is like leases where there is an option with the tenant to buy the asset at any time during the term of the lease, and since in the case of the hire-purchase property is transferred only when the last installment is paid, there is more protection for the seller, since the asset can be withdrawn if the payment of the payment amount is incorrect. Rental buyers can return the goods, which invalidates the original agreement as long as they have made the required minimum payments. However, buyers suffer a significant loss on returned or returned goods because they lose the amount they paid for the purchase up to that point. (iii) This person has the right to terminate the contract at any time before ownership is transferred in this way. § 3 of the act stipulates that any hire-purchase agreement must be in writing and signed by all parties. Let`s say equipment that costs Rs. 1,00,000 are sold in hire-purchase provided that interest in the amount of 15% per year is calculated at a flat rate and the payment is made in 5 equal years. Like leasing, hire-purchase agreements allow businesses with inefficient working capital to use assets.

It can also be more tax-efficient than standard loans, as payments are accounted for as expenses – although any savings are offset by tax benefits from depreciation. (v) Each payment will be treated as a rental fee until the last payment is paid. Hire-purchase functions are provided and discussed as follows – 6. . .