All U.S. companies must keep accurate records of accounts including a Profit and Loss Statement and a Balance Sheet that conform to financial reporting standards.

The qualified, experienced professionals on our accounting team are available to provide all of the accounting and bookkeeping services for any type or size of business to enable the financial position of your business to be accurately reported.

Our accounting and bookkeeping services are custom tailored to fit each client’s specific requirements and are maintained to ensure that all statutory accounting requirements are met in a timely manner.

Typically, the following types of companies or corporate entities are used to structure international business for tax planning purposes:

“Low or Zero Tax” Offshore Companies Located in “Tax Haven” Jurisdictions

These are very low or zero tax offshore companies incorporated in jurisdictions often described as tax haven islands. Examples of the types of companies that can be formed for tax planning purposes are available in several offshore company formation centers, such as the British Virgin Islands (BVI), Belize, the Seychelles or Brunei.

“Offshore” Companies Benefiting from Favorable Tax Regulation

Offshore companies may be incorporated in jurisdictions which offer both offshore companies and onshore companies and which may benefit from favorable offshore taxation and/or special offshore company regimes. For example: Mauritius has two types of companies that are used for international and offshore business tax planning. The Mauritius GBCII Offshore Company is, effectively, a tax haven company and, therefore, pays zero tax. This is similar in many respects to a BVI Company, whilst the Mauritius GBCI Company is tax resident and typically utilized for double tax treaty and international tax planning. Hong Kong, although not typically regarded as a tax haven, has a favorable tax regime which effectively means that correctly structured, managed and administered Hong Kong companies can be utilized for undertaking offshore business and international business without paying taxes in Hong Kong, provided that any profits arising are not made in Hong Kong. This type of tax regulation is known as “territorial taxation.” Offshore planning and operations are often quite complex. Offshore businesses can take advantage of, not only tax havens, but also onshore, high-tax countries that attempt to attract international companies and individuals using special offshore taxation incentives. These offshore taxation incentives are used for a wide variety of business tax planning purposes, such as: • Double tax treaty planning relating to dividends, interest and royalty payments • Establishment of holding companies with international headquarters located to avoid U.S. taxes • Specialty businesses, dealing, for instance, in leasing or wealth management and tax planning

“Onshore” Companies

Many countries have tax regimes that are, by statute, tax advantageous for specific international purposes. These companies are often referred to as “Onshore Companies.” In fact, almost all countries offer tax incentives of one kind or another to encourage local investment. International tax advisers have long been aware of the opportunities that exist for avoiding higher tax rates by using the special, low-tax incentives offered by high-tax countries seeking to encourage international business. However, successful application of such strategies is often dependent on a wide variety of issues relating to matters such as tax avoidance, double tax avoidance, controlled foreign company and management and control tests and provisions, transfer pricing, thin capitalization, participation exemptions, capital gains tax and other similar regulations. In addition, taxation may be affected, either beneficially or adversely, by enactment of exchange of information treaties and provisions.

OUR SERVICES

The United States Internal Revenue Service (IRS) requires every registered partnership to designate a partner – or another person – as the Partnership Representative. Persons establishing a new partnership subject to U.S. tax laws should understand the role and responsibilities of a Partnership Representative.

The Partnership Representative is the person – and the only person – to act on behalf of the partnership during a tax audit. The Partnership Representative is the US person or US entity with qualified US person ready to use his/her Social Security Number.

LLC Partnership Representative

Before the Centralized Partnership Audit regime, this person was designated as the Tax Matters Partner (TMP). As the name implies, the TMP had to be an actual partner in the endeavor.

IRC Section 6223 replaces the TMP with a Personal Representative who may or may not be a partner in the business as long as the designated person has “a substantial presence” in the United States. “Substantial presence” is required to help ensure that the Personal Representative will be available to communicate with the IRS as they deem necessary.

For this reason, the partnership should be careful to select “the person best situated to represent the partnership.” This is particularly important because any and all actions taken by the Partnership Representative during an IRS audit will be binding upon the individual partners and the partnership itself.

Reliable Partnership Representative for your business

The ACS cannot overemphasize the gravity of partnerships ensuring that they have selected and appointed a qualified Personal Representative.

We invite you to contact us at ACS for more information regarding your business partnership concerns. Our expert, multilingual staff is prepared to assist you in making certain that your partnership is IRS-compliant regarding the appointment of a Partnership Representative or any other similar matter.

Do you run your own business and think about making yourself known in the U.S. market? Do you want to compete among many companies and brands in the U.S. successfully? Would you like to protect your name and brand against illegal use? Then trademark registration in the U.S. is what you need. It does not matter where you are geographically: in Russia, Belarus or any other CIS country; you can register remotely using the qualified assistance of the team of CONSULTING ENTERTAINMENT GROUP, LLC

Specifics of U.S. Trademark Registration

In order to register the right to a trademark for identification of a product and an intellectual resource, you should apply to the United States Patent and Trademark Office. In case of successful registration, you will get a certificate that will entitle you to use the trademark for 10 years and, if necessary, extend it without any limitation of the number of applications.

Not only an American company can be the holder of a trademark in the U.S. Registration is also available to resident and non-resident individuals.

There is a benefit of first use in the U.S. A designation or a logo may be non-registered but already used in commerce by someone, and your application will be rejected if the opponent initiates and wins legal proceedings.

According to the U.S. laws, the following trademarks are not allowed for registration:

• contrary to moral standards;
• descriptive;
• that may misinform consumer;
• with elements of state symbols of the U.S.;
• containing names of countries, flags and international emblems, geographical names and surnames;
• having similarity or identical to trademarks used or registered in the U.S.

The process takes about 10 months, unless there are objections to the application. The certificate is valid not from the date of your application, but from the date of registration of the trademark.

5 years after registration, you must confirm that you are using the trademark in trading and submit a declaration. Non-compliance with this requirement will cancel the registration.

What Opportunities Are Provided by Registration of Your Brand in the U.S.?

The main advantage of official authorization is that no one but you can use the trademark legally for distribution and advertising of products and services. In addition, you will have better conditions for development of your business:

• protection against illegal actions of other persons with respect to your name and logo;
• opportunity to earn from licensing;
• competitive advantage on Amazon with Amazon Brand Registry;
• promotion and increase in the value of the trademark as an intangible asset;
• by registering a trademark, you invest in the future.

What is the Process of Trademark Registration in the U.S.?

1. First, you should choose the trademark format: name, logo, a certain color, taste, sound or other special details that would help customers to distinguish your product from others.
2. Compiling a list of goods or services provided. The use of a trademark in the U.S. is allowed only with respect to the services and goods specified in the application. Therefore, you should pay attention to completing this item. It is important to note that object are systematized in the application for registration according to the classes of the International Classification of Goods and Services (ICGS), but unlike many countries, here you should describe the goods in details and break the classes down by concepts.
3. Trademark identity and similarity search verification in accordance with the U.S. Trademark Electronic Search System (TESS). There is also an international WIPO trademark database for accurate verification.
4. Correct choice of the ground for application for trademark registration:
   1. intent to use;
   2. use in commerce: relevant for those who already use the trademark for trading in the U.S. domestic market. The use can be proven by a website, an advertisement, a brochure with description of goods or services and with the trademark, as well as a label, a tag or packaging;
   3. in the form of a foreign application (according to the provisions of the Paris Convention): it can be used when the application has been transferred for registration in one of the contracting countries;
   4. using foreign registration: if there is a foreign registration certificate of the right to the trademark;
   5. in the format of international registration (according to the Protocol Relating to the Madrid Agreement): it can be used when the trademark is registered in your country and you are planning to start promoting your business in the U.S.
5. Sending the application and payment of the established duty.
6. Examination proceedings. If the application is drawn up correctly and meets the formal requirements, it will be submitted to expert examination. This stage of registration can last from several months to half a year. During this period, your trademark is checked for identity and similarity with those existing in the database: by sound and graphic similarity, meaning with respect to one class of products and services
7. Publication of the trademark with online access in the USPTO Official Gazette if the application passed the examination proceedings without rejection by experts. Within 1 month from the moment of publication, the application is under public review: during this period, any person whose rights are infringed may object to the registration.
8. Issuance of a registration certificate if your brand is already present in the U.S. market or if there is a certificate of another country.
9. Notice of Allowance, provided that you only intend to use the trademark. Then you should provide evidence of commercial use of the trademark no later than 6 months from the receipt of the notice or apply for an extension. After successful examination proceedings, you will get a certificate. Now your trademark is protected.

It is important to note that throughout the registration process you should monitor your application status through the Trademark Status & Document Retrieval system (TSDR) and respond to the experts’ request in a timely manner.

Intellectual property protection in the U.S. allows ensuring beneficial conditions for business both for a startupper and for companies that have existed for over a year. The U.S. market is believed to be the largest in the worlds by consumer characteristics with wide opportunities in goods and services promotion. This is why patent registration in the U.S. is so popular among startup developers that have unique ideas or brand new inventions. More than 500 thousand applications are received annually. It is in the U.S. where you can register your own business model: organization methods, algorithms and software.

Types of U.S. Patent

Patents are issued by the U.S. Patent and Trademark Office. Patents have the following types:

• Utility Patent: — granting ownership of a created device, a developed operation principle, unique composition of a product or a substance, and improvement or modification (in other words, this is an invention patent) — lasts for 20 years.
• Design Patent: registration of ownership of a product design object developed by you — lasts for 14 years.
• Plant Patent: protection of a new variety and species of plant from selection — lasts for 20 years.

Aspects of Registration in the U.S.

The conditions to get a U.S. patent are novelty of the invention (differences must be obvious for experts) and utility (for a specific purpose, the invention should not contradict the laws, public order and moral standards). The laws of nature, physical phenomena and abstract ideas are not patentable objects.

In which cases you will be turned down:

• if the claimed development was described in a print publication or is publicly available (for example, oral presentation at a scientific meeting or lecture, demonstration of the invention at an exhibition, radio announcement, video on YouTube or a website), is being sold or available. Exception: information was disclosed by the inventor and no later than 1 year prior to the application, provided that the product has not been put on the market;
• if the claimed development was patented or described in a published application for intellectual property under another name, although the invention may belong to you (the idea belongs to the first person to have registered it or applied).

Benefits of Patent Registration in the U.S.

What makes the intellectual property patent registration in the U.S. attractive and beneficial:

• protection of your idea;
• possibility to stop potential or real competitors who are creating or using the same or similar invention;
• protection from litigations associated with your violation of intellectual property rights of others, including “patent trolls” (those who specifically look for an opportunity to earn money when a certain company produces and sells goods without having registered a patent for its development or having done so late);
• new opportunities in the search for an investor;
• competitiveness;
• increase in the company value due to the presence of a patent portfolio;
• good investment in your development as a future asset.

How to Patent Your Idea in the U.S.

In order to get a patent for intellectual property, it is important to know all legal aspects and specifics of registration in the U.S., because this process is quite complex and involves the following actions:

1. First, it is necessary to conduct a patent search among published and disclosed sources in industrialized nations: the review should be based on the existing patents and patent applications, scientific and technical publications, lectures, documentation from various conferences, etc., in order to identify the unique nature of your idea and development.
2. After the review, you can apply for a Provisional Patent, which is not a requirement. However, this step allows you to fix the date of applications and ensure priority over other applicants who wish to register a similar development later. In this case, you will be able to:
   • complete the application by making the necessary corrections;
   • test the product and put it on the market to determine the customer demand;
   • find an investor to get the patent.
3. Within 12 months after sending a provision application, you should apply for a Nonprovisional Patent, otherwise the decision will be canceled (except in case of force majeure). This step in the registration process is important and complex, because no information provided in the application can be changed. Required elements of the main application:
   • specification: includes a full and accurate description of the development, the method and process of its manufacture and the scope of its use;
   • drawings: there are certain requirements to the drawings and graphics that must be met;
   • patent claim: it determines the scope of protection provided by the patent and the issues of its violation considered by courts;
   • declaration of disclosure of information about the invention signed by the inventor or oath that must be provided before a notary public. If the applicant is in another country, this confirmation may be executed and delivered through a diplomatic or consular officer of the U.S. subject to payment of the required state duties.
4. After the general review of your application, it will be sent to the patent examiner. The examination proceeding includes the review of the application for compliance with legal requirements and search for U.S. patents, publications of patent applications, foreign patent documents and available literature in order to verify if the claimed invention is unique and useful and if the application meets the requirements of laws and the rules of practice. Throughout the entire examination proceeding, it is necessary to reply to the Office Actions in a timely manner about your documents: they mainly concern the specification of details about your development. If the invention is modified in the process, you can file a Continuation Application. If you are denied the registration, you can appeal against the decision of the expert committee.
5. After successful registration, you will get a patent for your invention. The entire process of getting a patent in the U.S. lasts for about 3 years. This entitles you to prevent other persons from creating, using, advertising or selling your invention in the U.S. or exporting your invention to the U.S. If the intellectual property right is infringed, you can file a claim to a competent federal court. The patent is a personal property and may be sold to other persons, pledged, bequeathed or inherited.
6. During the registration, you should pay the basic fee and additional fees for the search, examination proceeding, excessive claims and certificate issuance. If the invention belongs to a small organization (independent inventor, small business or non-profit organization), most of the fees are reduced by half. In addition, 3.5 years, 7.5 and 11.5 years after the issuance of the patent, it is necessary to pay for the maintenance. If the fee is not paid during the payment period, the protection will be canceled.
7. 1.5 years after the last application, the Patent and Trademark Office will publish your application for intellectual property, which enables any person to request access to the entire history of application files.

In order to get a patent in the U.S. successfully, the Office recommends engaging a patent attorney or agent registered in the U.S., since it requires knowledge of patent laws, rules and procedures of the Office, as well as knowledge of scientific and technical matters related to a specific invention.

One of our offices is located in California, which is the leader in the issuance of patents in the U.S. territory (20% of the total number of documents issued), therefore we can provide legal registration services using all the required tools.

Legal structure and legal support are vital to any small businesses, but the cost of business legal services can sometimes be prohibitive. American Corporate Services can help you get the legal consultation that you need at prices you can afford.

Whether you need to make a decision about your business’ legal structure, have questions about your lease, or want to protect your intellectual property and other assets, or be represented in civil litigation, we can put you in touch with one of the attorneys in our extensive network of legal professionals who are available to provide whatever business legal services you many need. They will provide legal consultation and guide you through the legal process to help you consider the most appropriate legal structure, to trademark or patent your products and services, and to review your contracts, employment agreements, NDAs and whatever other legal support is necessary.

For more information, please contact us at ginger.huber@consultenter.com