Assessment of Copyright Value in Hotel Industry in Poland: Income Approach
5 Pages Posted: 30 Sep 2019
Date Written: September 25, 2019
The development of a proper method for calculating the value of copyrights and related rights is an important task in the current climate of the new economy. Costs of royalties paid to collecting societies are significant and disputable in many industries, like hotels or gastronomy. There are many disputes and law cases related to indicating the fair value of copyrights. The dominant position of collecting societies has resulted in a number of decisions of the European Commission and judgments of the European Court of Justice as well as national courts, concerning the activities of collecting societies and the level of fees collected. The problem has been widely analyzed, mainly by law specialists. In the case of the valuation of copyrights, methods based on income and market comparison are preferred, however, the fact that only a limited market exists in the case of dealing with collecting societies, should be taken into consideration. Author presents method based on income approach. Proposed model links financial results of the hotels with advantages of using TV and radio sets by the hotel guests in income approach. The presented method is useful to indicate the fair value of copyrights and was prepared to help in law disputes relating to the misuse of the dominant position by CMOs.
Keywords: Valuation, Copyrights, Collecting Societies, Copyright Management Organizations, Intangible Assets, Hotels
JEL Classification: C19, D46, G30, K10, K11, L43, M31
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