GUERNSEY’S intellectual property office is open.

Industry experts believe that IP laws introduced at the beginning of the year offer the island a valuable opportunity. ‘The legislation is world-class and at the cutting edge of worldwide IP laws,’ said Jason Romer, senior commercial lawyer at Collas Day, which secured the first available registration on the day.

‘We’ve seen new and existing clients who want to use intellectual property offshore – it combines strong IP legislation with good tax advantages.’

Managing partner Chris Bound was pleased that the firm had played such an active role.

‘Collas Day are delighted to be at the forefront of what is a very exciting time for IP legislation. We see intellectual property as having great potential for the island.’

Law firm AO Hall obtained the day’s second registration and senior associate Tania Johnstone said the new office offered the island ‘an opportunity to distinguish itself and promote itself as a jurisdiction’.

‘We have been rallying lawyers in the UK, with London showing particular interest due to the island’s proximity,’ she said.

The legislation introduced on 1 January was the first change to copyright law since 1911 and to trademark law since 1922.

The new office allows companies to register trademarks directly in Guernsey.

‘It’s a very big step forward for intellectual property on the island,’ said IP registrar John Ogier.

‘Up to 75% of the value of companies and corporate assets globally is contained in their intellectual property.’

IP registration in Guernsey will also simplify the process in other jurisdictions and there is potential for the island to become the first in the world offering the registration of image rights.

Online registration is expected to become available in due course and the public can electronically access the records at the new IP office.

New registrations will be published on the notice board outside the office and on its website.

Registration costs £320 and lasts for 10 years.