24/09 09:20
 

Payment of royalty delayed from September 2010 until March 2011

 

The State Intellectual Property Service Board adopted such decision by virtue of information prepared by Inspection Division of Kyrgyzpatent during its regular meeting.

In accordance with the Law of the KR “On Copyright and Related Rights” until today a collected royalty, was paid twice a year – in March and September. However experience of previous years shows that in March size of royalty is bigger than in September. It may be explained by the reason that in March large sum would be accumulated, because most payers close financial year and pay accumulated debts, while in September after summer holidays collected royalty sums are less. Major of authors being aware about size of royalty, do not receive royalty in September in order to accumulate more significant sum to March.

National authors get main part of royalty from leading Kyrgyz TV companies. However after April Events financing of the National TV Channels was opened only by protected items, therefore main payers of royalties became unable to pay necessary sums.

The State Intellectual Property Service Board taking into account these circumstance, decided to delay payment of royalties to authors, contracted with Kyrgyzpatent on transfer of collective management property right, from September 2010 to March 2011.

 

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