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Episode 16: Special Guest Priya Royal, Founder of Royal Law Firm PLLC
In this podcast, I am joined by a special guest, Priya Royal of Royal Law Firm PLLC. Royal Law Firm is a private client service focused firm that is woman- and minority-owned. It is based in DC with branch offices in NY and CA. Priya is a former IRS estate tax attorney with over 15 years of multijurisdictional experience in wealth planning and tax strategy. Her firm regularly represents entrepreneurs, and first and second-generation wealth with interests across the United States and internationally.
One of the firm’s niche practices is tax planning, structuring, and liability protection for businesses and estates with intellectual property and the firm works closely with IP attorneys to provide comprehensive counsel on patents, trademarks, copyrights, trade secrets, and rights of publicity. Priya and I discuss the many points of intersection between IP and taxes, including how and when to address steps that can reduce tax burdens, particularly on startups but also for established businesses.
Often attorneys are typically specialized to such a degree that we don’t necessarily see the “ripples” that activity in one area – IP – can have on tax obligations, for example. Having been on the corporate side of things I quickly learned that IP doesn’t exist in a vacuum and careful planning can result in savings. Those savings can be redeployed to help the business grow rather than handed over as taxes.
We discussed:
- Determining the Legacy of your IP
- The tax implications of IP
- Creating business entities for technology – IP trusts, holding companies
- How liabilities can cripple your IP
- Valuation of patents and other IP
- IP and transfer taxation
Links:
Priya Prakash Royal, Esq., LL.M., MBA
Managing Attorney
Royal Law Firm, PLLC
Main Office (DC Metro):
1629K Street, Suite 300, Washington DC 20006
Other Locations:
NY: 67 West Street, Suite 401, Brooklyn, NY 11222
CA: 4966 El Camino Real, Suite 119 Los Altos, CA 94022
