The art world is based on ideas, concepts, intangibles hat lies at the cross roads of commerce and creativity that make it a complex sector. It could be paintings, lyrics, books, motion picture, video, rare collectibles, vintage products, antiques, heritage property or sculptures. They may be steeped in creativity,tradition and history, but its as dynamic, complex as any other sector due to its immense value and as an investment.
As art is a broad expression that encompasses performing arts such as singing, cinema, theatre or visual arts including painting, photography, ceramics, sculpting, or writing songs and books. Art, culture and luxury which are related, are facing greater challenges such as digital disruption, economic uncertainty and cross border trade in a globalized world.
The UAE in general, and Dubai has become the first world destination for Art events and activities. With thousands of companies dealing with art or IP in some form through Dubai media City, Dubai Studio City, hundreds of art galleries, film festivals it’s necessary for art to have a governing legislation to protect the relations between its primary elements.
To cater to this landscape, Al Gharib has an Art practice with legal and specialized staff in this domain. Our art law practice advises private art collectors, galleries, dealers non-profit charitable organizations, trusts, museums, auction houses on all legal and regulatory issues and provides the needed protection on all fronts to our clients.
- Assists institutional art collectors on valuation in connection with tax and estate planning
- We advise on and structure the acquisition process
- Carry out due diligence, structure the transactions for tax efficiency and draft contracts
- Review insurance arrangements
- Advise on shipping, import and export considerations
- Tax and after-sale warranties, and set up of escrow arrangements
- Structure and negotiate guarantees and advances on sale proceeds
- Negotiate consignment agreements with regional auction houses and institutions
- Advise on the buy, sell, consign or trade art
- Negotiate agreements with artists, galleries and suppliers
- Assist with regulatory issues including import and export
- Provide support on copyright, resale rights, and disputes over title and provenance
- Ensure compliance with anti-money laundering regulations
- Assist in the recovery process of art theft, claims, litigation or arbitration proceedings.
- Provide counsel in ownership conflicts to authenticity disputes; fraud cases to tax rulings
- Dispute resolution encompassing negotiation, arbitration and mediation
- Negotiated settlements in ownership and restitution claims
- Handled compensation claims for lost, destroyed, damaged art, subject to fraud or theft
- Drafting contracts between art companies, artists and production houses
- Represent disputing parties before committees arbitration boards and courts
- Liaison art cases in the UAE or and abroad through our associates worldwide
- Assist artists estates with sale, tax efficient estate plans to preserve their legacy
- Setting up foundations, facilitate sale of the artist’s own works and related copyright issues
- Advise on contracts, print runs, installation, maintenance, collaborations with brands
- Prevent exploitation of IP related to limited edition prints, revived term and derivative works
- Tailor agreements and commissions on licensing
- Help art collectors reduce tax exposure
- Assist in setting up or supporting an existing charitable foundation
- Advise on ongoing compliance and operation
Al Gharib has special section that is responsible for handling Intellectual Property (IP) issues and related services, which include, but not limited, to the following:
- Study of trademarks and provide necessary advice thereon.
- Registration of trademarks, copyrights and the industrial design and related models.
- Making assignments and transfer of IP rights
- Making usage licensing agreements
- Sending warning notices to intellectual property infringers.
- Organization of hearings before the ministerial committee and judicial bodies (courts)