The legal environment we call ‘art and cultural heritage law’ (an amalgam of personal property law, contract, estate, tax and intellectual property law) supporting the acquisition, retention and disposition of fine art, often fits uneasily with art market custom and practice. The result is that 21st century art market participants are frequently unsure of their legal rights and obligations.
FASANO provides due diligence investigations and research into the provenance, title and authenticity of works of art and cultural property. We maintain a global network of trained provenance researchers and are dedicated to helping clients meet their requisite legal, professional and ethical due diligence standards.
FASANO is skilled in the negotiation and mediation of complex, cross-border title disputes over fine art and cultural property. We focus on developing creative, confidential solutions, which respect pre-existing relationships and protect our clients from the costs and publicity of litigation.
Pierfrancesco C. FASANO is accredited by International Council of Museums (ICOM) and World Intellectual Property Organization (WIPO) as Mediator on Art and Cultural Heritage disputes.
FASANO specialises in identifying and recovering stolen, missing and looted works of art in a professional and ethical manner. We work closely with law enforcement agencies and the trade to protect our clients’ interests, recover their property and reduce the market in illicit objects.
FASANO draws upon a wide variety of legal fields to provide the following services to the international fine art community:
- Estate planning for artists and collectors
- Loans and insurance secured by fine art
- Museum, foundation and gallery advisory services
- Museum ‘franchising’ and merchandising
- Exhibition sponsorships
- Private and public commissions
- Private sales, consignments and auctions
- Licensing and merchandising agreements related to fine art prints, posters and consumer products
- Charitable gifts
- Provenance review and research
- Restitution claims
You wouldn’t think Italy would need incentives to help fund the maintenance and restoration of its museums, priceless artifacts, and numerous Unesco sites, but tourism and limited governmental funds alone cannot pay for these endless tasks, so recently the Italian Parliament has passed some new laws to alleviate the situation, especially under such economic times of crisis in the Bel Paese. The new law, called Art Bonus, hopes to encourage patrons (both individuals and businesses) to invest in the restoration of cultural entities by offering them a tax bonus equal to a deduction of 65% of their donation in favor of museums, archaeological sites, archives, libraries, theaters, and lyrical symphony foundations. In an attempt to boost touristic entities, the law also allows a 30% tax credit to touristic structures when they invest in reconstruction, revamping, and modernization (such as digitization) of their entity. FASANO can help its client to apply and deal with tax, bureaucratic and intellectual property issues.