Application of the Delayed Royalty Framework for Onshore Petroleum Investment in Nigeria

Nigeria uses the concessionary petroleum fiscal system for onshore investment in the country where the ownership of the hydrocarbon resources belongs to the contractor's. The government then gets her revenue through payment of royalties and taxes. A fixed royalty rate of 20% is specified for onshore petroleum investment in the country. This kind of royalty payment system is regressive in nature and affects the sustainability of E&P firms during period of low oil price. This research considered the incorporation of a delayed royalty framework into the concessionary petroleum fiscal system in Nigeria. Two economic models were built to evaluate upstream petroleum investment in Nigeria onshore environment using the spreadsheet modeling technique. The delayed royalty framework was incorporated into one of the model. The delay in royalty payment was made as a function of the time it takes the contractor to recoup his capital before payment of royalty and taxes. Oil price was varied in the model between $30-$90/bbl to see the impact of the delay in royalty payment on the sustainability of the investment under the delayed royalty framework. It was observed that the delayed royalty framework made the contractor to recoup his capital early during the life of the investment. It also increased the contractor's revenue which will help to increase the sustainability of the investment during period of low oil price.

The concept infringement of subjective copyright: a theoretical aspect

Shtefan O. The concept infringement of subjective copyright: a theoreticalaspect. The article examines the problem of protection of subjective copyright at the doctrinal level. The source base analyzed in the article revealed the lack of a unified approach to the definition of copyright infringement, the criteria for classifying infringements and their characteristics. The author 's approach to the solution of the outlined problem is offered in the article.In particular, the proposed following definition of copyright infringement is a culpable, unlawful, punishable act (action or omission) that harms or infringes on the personal non-property and / or property rights of the copyright holders for which the legal liability arises. The basis of protection of rights is called by civil law “non-recognition of rights". Summarizing the existing definitions of this term in the doctrine, the author proposes to understand the non-recognition of rights as a passive denial of a person's copyright to a work, which does not directly harm the subjective right of the copyright subject, but creates uncertainty in the legal status of the holder. including in its relations with third parties regarding the use of the object of copyright.In the article, the author, based on the analysis of case law, examines the misuse of the work, as any use of copyright both within the contract and outside the contract, which violates the property rights and personal non-property rights of copyright subjects. The most common are non-contractual copyright infringements related to the illegal use of works. Such violations include, in particular: posting works on the Internet sites forfree (paid or free) access without the permission of the relevant subject, presentation of works in cafes, bars, restaurants for a fee or without them (without royalty payment), work or part of it in the memory of a mobile phone for a fee or without such, etc. The article concludes that, as a rule, intangible copyrights are infringed at the same time as property rights, is a derivative of infringement of property copyrights related to the useof the work. Therefore, copyright infringement is complex. The article concludes that copyright infringement is complex.Key words: copyright, infringement, classification of infringements, signs of infringement, infringement of subjective copyright.

Copyright Law Protection Competence in Paying Royalty as Exclusive Rights Substance

Copyright is considered as a moving and intangible object; therefore, a copyright devolution cannot be done verbally but must be with an authentic deed or Underhand deed. Problem Identification: 1. How does the song copyright devolution mechanism make economic interest for a composer or Copyright Holder? 2. What is the system of song copyright royalty payment in Indonesia? and 3. What should be done by the parties to resolve the royalty payment execution dispute? It is a normative juridical method that must be used. Research Result: It is true that copyright license mechanism, fee retaining or royalty payment is considered as logic consequences that must be done by a licensee over a licenser (Copyright holder). It is because the licensee gets material profits due to the economic rights exploitation over the copyright itself. There are many varieties or different ways of compensation payment system or indemnification from the licensee to the licenser over one copyright object to another, for instance in song/music is known two different ways such as royalty and flat systems, while in music or song is known several ways, namely by percentage system, period system, profit sharing system, compensation or copyright selling system. Royalty payment dispute resolving may come in many ways, and, generally, the dispute resolving forums are available into two forms, such as litigation forum through courts and non-litigation forum out of court.

ANALISIS PENERAPAN ARM’S LENGTH PRINCIPLE PADA TRANSAKSI PEMBAYARAN ROYALTI ATAS PEMANFAATAN MEREK DAGANG (TRADEMARK) KEPADA PERUSAHAAN AFILIASI

Trademark is a unique marketing intangible. It does not only involve the expenses of marketing, advertising, and promoting, but the reputation of the trademark's owners also takes part in the development of trademark. Many parties involve in the development of trademark. In the context of transfer pricing, these parties entitle to some compensation. And arm's length principle must be applied to determine the reasonable compensation for the use of trademark. Transaction payment of royalties on trademarks is subject to taxes.The taxation of transactions payment of royalties on the use of the trademark among affiliated companies also created disputes between the taxpayer and Tax collector. Cases disputed are related to the fairness of the transaction relating to the determination of royalty payments on trademarks which cover: definition, identification, allocation and valuation between affiliated companies (Caroline Silberztein, 2010). The dispute raises the burden of the cost of compliance for taxpayers and cost of collection to the tax authorities.This study aims to determine how to identify ownership and economic benefits, as well as the best method which can be applied to determine the reasonable price of royalty payment transaction for the trademark use.The results shows that in order to determine the parties entitled to compensation/ remuneration are: Party who can be legally declared to have legal ownership (legal owner) which are parties that have control over decisions related to the exploitation of the intangible as well as the right to restrict others to use intangible; Parties that contribute to the value of the trademark by identifying the parties who bear the cost and risk of the development of the trademark.

Profit Allocation and Realization in Regional Technology Transfer Alliance Based on Game Theory

Regional technology transfer alliance consists of universities, scientific research institutions, enterprises, governments and technology agencies. Through the behavior game analysis of profit allocation between technology transfer participants, we propose that the profit allocation in regional technology transfer alliance is a consequence of gaming process among the participants. The governments and technology agencies should undertake the technology transfer market value assessment and market regulation to improve a sustained and stable cooperation in technology transfer between the technology supplier and demander. The transfer profit can realize by the ways of lump sum payment or payment by instalments, royalty payment, mixed royalty payment, production investment payment, service investment payment and mixed payment.