The intellectual property holding company: tax use and abuse from Victoria's Secret to Apple

In: Cambridge intellectual property and information law

Abstract

"The laws of taxation are comparable to the rules of a complex game, such as poker. Like poker, "playing" tax is about winning, or at least keeping, money. The seriousness of either game depends on the size of the stakes and whether the player can afford to lose. It is, after all, only money. But there remains one crucial difference: unlike poker, one cannot fold or opt out of the tax game. We are all obliged to play"--