Law360 quoted George Callas in an article titled "With IP Repatriation, House GOP Draws Flak on Virus Relief." The article, published July 27, explains why House Republicans are pushing for the next pandemic relief bill to include incentives for companies to bring home offshore intellectual property. According to the House GOP, onshoring IP would remove an obstacle for companies to use it in the United States — either to develop new technologies or to support domestic manufacturing.
Callas says: "US ownership makes it easier to exploit the IP in the United States, for example by licensing it to a US manufacturing affiliate. So this is both about broadening the US tax base and making it easier from a tax perspective to utilize the IP domestically, which leads to more real economic activity."
The full article can be read at Law360 (subscription required).
Managing Director, Government Affairs & Public Policy