I hear the standard practice is to have the IP of the poem owned by a foreign en... | Hacker News

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arunabha 74 days ago | parent | context | favorite | on: Atlanta Fed predicts -2.8% GDP

I hear the standard practice is to have the IP of the poem owned by a foreign entity(Ireland is pretty popular) and then for the US entity to pay a royalty of $50 trillion to the foreign entity so that the net revenue in the US is zero.

I believe it has it's own name - The double Irish.

ummonk 74 days ago | [–]

Yeah but then that only contributes to the GDP of Ireland, not the US.

Not coincidentally, Ireland has one of the highest GDP per capita in the world.

lotsofpulp 74 days ago | [–]

This only works within the European Union because the EU rules allow it.

It would not work between the US and Ireland.

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