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IP assets and film finance - a primer on standard practices in the U.S.
Economic Research Working Paper No. 74
This research summarizes the basic economics of film finance and standard practices in the U.S. movie industry. It shows how risk and uncertainty around new film finance are managed by the private sector and what market-based solutions have been developed to mitigate risk in the sector. Based on a series of expert interviews and exploratory data analysis, the research presents the most common types of financial deals on the ground and reoccurring funding practices for new film production and distribution in the past twenty years, including a discussion of most recent trends and digital changes in the sector. In particular, the research highlights the prominent role of intellectual property (IP) in financial transactions of the movie industry and it discusses policy options in the U.S. and beyond to better leverage IP assets for financing purposes.
Publication year: 2023
World Intellectual Property Indicators 2023
This authoritative report analyzes IP activity around the globe. Drawing on 2022 filing, registration and in force statistics from national and regional IP offices, it covers patents, utility models, trademarks, industrial designs, microorganisms, plant variety protection and geographical indications. The report also draws on survey data and industry sources to give a picture of activity in the creative economy.
Ars longa, vita brevis: The death of the creator and the impact on exhibitions and auction markets
Economic Research Working Paper No.76
This paper studies the death effect on artists' exhibitions and commercial success in the secondary art market. Based on a random sample of 1'000 popular artists born after the turn of the 20th century, we construct a novel panel data set of their worldwide exhibition history and auction transactions. By applying a regression discontinuity and event study design, we find an overall negative effect of artist death on the number of exhibitions. However, this post mortem effect disappears in longer term. Roughly ten years after death, exhibitions are back to pre-death levels. Arguably, transaction cost and higher auction prices after death also temporarily increase the average cost of exhibiting artworks, e.g. higher market valuation raises (unobserved) insurance cost for exhibitions. Hedonic auction price models confirm this intuition and suggest a significant price premium posthumously. We find substantial heterogeneity in the treatment depending on the age and reputation of the artist at death. Overall findings explain important mechanisms for the post mortem value of artistic work and have important policy implications for the creative sectors and the design of legacy stewardship rules, including a possible justification for rights granted post mortem such as copyright.
Digitization and Availability of Artworks in Online Museum Collections
Economic Research Working Paper No.75
We provide quantitative evidence from museum collections about how copyright status affects the availability of digital images of artworks. The paper applies a regression discontinuity and differences-in-differences design to estimate online availability of artworks from U.S. collections on digital platforms. We find a strong increase in the availability of digital surrogates when copyright is perceived to expire and original artworks are likely to transition to the public domain. Moreover, artworks and surrogates made available see a large number of downstream reuses based on google image search data, which indicates online availability is of commercial and public value independent of right status. Notably, we show that upstream surrogates of public domain artworks made available by museums are positively correlated with higher image resolution quality as compared to digitized artworks still protected under copyright laws. At the same time, it seems expressed industry norms can help encourage U.S. museums to also make low-resolution surrogates of copyrighted artworks available.
Collective Management of Text and Image-Based Works
Collective Management of Text and Image-Based Works offers a general description of collective management of copyright in the text and image sector. It provides insight into the legislative framework and national operational systems in different parts of the world.
International Survey on Text and Image Copyright Levies
2015 Edition
The second ‘International Survey of Text and Image Copyright Levies', jointly published by WIPO and IFRRO analyzes the origins, scope and current use of text and image copyright levies around the world. It shows the role of this mechanism for ensuring easy legal access to copyright material and its major differences with audio and audio-visual private copying levies. The Survey is based on data from IFRRO members and provides and overview of this important income stream for copyright holders.
Publication year: 2015
International Survey on Private Copying - Law and Practice 2015
The World Intellectual Property Organization (WIPO) and the Dutch collecting society for private copying remunerations, Stichting de Thuiskopie, are pleased to present the third joint publication on the law and practice of private copying systems around the world. The survey provides a global view of private copying compensation (also known as private copying levies), an important element of copyright and related rights infrastructure. It aims to facilitate evidence-based decision-making and to provide an update on important developments in the private copying law and practice of countries that have such an exception in their legal arsenals.
Publication year: 2016
Adaptation of The Copyright Laws of Countries in Transition to the New Technologies; Accession to, and Implementation of the WIPO Internet Treaties
This Study offers a comprehensive analysis of the way the national laws of “countries in transition” have been adopted to new technologies.
Publication year: 2010
Typical Features of Copyright in Countries in Transition: Review of the Transition Process – Guidance for its Completion where it may still be needed
This Study presents special features of the copyright laws and institutions of countries in transition and aims to help with modernizing the laws on copyright and neighboring rights, adapting them to an appropriate interpretation of the existing conventions and to the newly emerging international standards by eliminating the elements of the laws which followed from the centrally-planned, collectivist systems. The goal is to appropriately reflect the legitimate interests of employers and producers, making the enforcement more efficient and eliminating over-regulation.
Publication year: 2012
Understanding Copyright and Related Rights
This booklet provides an introduction for newcomers to the subject of copyright and related rights. It explains the fundamentals underpinning copyright law and practice, and describes the different types of rights which copyright and related rights law protects, as well as the limitations on those rights. It also briefly covers transfer of copyright and provisions for enforcement.