Experts remind that in the last twenty years, the rapid development of the global network has repeatedly called into question the very idea of copyright-protected source of income for authors, because it conflicted with the uncontrolled and non-profit entity of the Internet. It is only in relatively recent times began to take root in various online business models of especially large corporations, and then the small and medium enterprises (SME). SME firms have been deriving benefits from the use of new digital technologies, will enable them to innovate, to increase the number of jobs and to acquire a niche in the national markets. According to the data from National Statistics Agency and several reports of UMIP, a savvy branch of the University of Manchester focused on intellectual property questions and commercialisation in particular, 5.6% of UK GDP is provided by enterprises of creative industries.
This digital technology originally extremely negative effect on areas such as the publication of newspapers, magazines and books, sound recordings, production of TV programs, movies and video games and so on. Entrepreneurs had to seriously restructure its business practices in an effort to keep the profits. Not always being introduced schemes they were effective or simple enough that clients and consumers were willing to use them.
For example, in the UK there are about 70 music services, providing legal digital content, which is more than in the United States. The complexity of their work is still not allowing them to win any significant victories in the battle against illegal free services. A weighty share of ‘complexity’ falls on licensing features: the difficulty of finding a huge number of holders, the unjustified level boards, intricate conditions for issuing licenses, and similar circumstances. Continue reading
A far famed investment fund with a charging structure functioning under the ‘no win no fee’ principle was shut down as it fails to win over savers. Established in the first quarter of 2011 by Nigel Legge, a proficient and respectable stock picker, The Vinculum Global Equity faces its last days. An affair started by Legge collided with a major finance issue – the former Liontrust headman, the fund has managed to raise as little as 2.5m in euro. Therefore, an economically non-viable enterprise was subjected to a radical measure – shut down.
Three years ago, just when the fund was called into existence, financial experts spoke positively of the fee structure standing in fund service. Thus, Vinculum charged just 0.25pc annually, while a typical cost equaled 1pc per year for fund investments run by professional.
Additionally, Vinculum charged investors an extra of 20pc in case outperformance over stock is registered in comparison with the benchmark in the face of FTSE World Index. Legge explained the fees from a rational customer service point of view, saying that such action is way more reasonable rather than charging for underperformance. A savvy stock picker labeled the policy as a fund management evolution. Unfortunately, the evolution experienced a collapse as the fund contacts its investors, notifying of its closure.
The administrator of Vinculum, Peter Smith, in his letter to investors says that the fund is no longer economically viable, and the intention to shut down the fund is the only reasonable option available at the moment. Thus, February 10 was the day the fund stopped its functioning. It seems that Legge accepted the situation and make the decisive step to avoid possible financial accident claims. The state of affairs was previously studied in details at Solicitors Guru – one of the largest UK legal platforms.