By the order of Montenegrin Duke Nikola Petrovic in 1888, the famous professor of Kiev University Valtazar Bogišić collected legal customs of the people of Montenegro. During this work, the professor has formulated a legal sentence that says PROPERTY is something most that can be said about the thing. Since it is the wisdom shaped through the experience of the people, it is certain that in the 19th century those the most fundamental rights were related to tangible things or property such as houses, fields, forests, tools, etc.. In recent times, by the experience of generations connected to new technologies, a new legal consciousness of the possibility of exercising rights of ownership has been developed. Right to ownership is not only to the tangible things but also to the so-called intangible assets, to protected ideas in the field of science and art, including the works of music recorded in music writing.
In our time, in developed world, where the perception on the importance of intangible assets is upgraded, in our case the importance of musical works, the number of companies in whose property related structure the value of intangible assets increased and becomes greater then the value of material assets.
Music authors in Montenegro established their own collective management society to help them valorize the legacy of their work. Primary and sole activity of PAM CG is to, under the authorisation of the author, ensure the regular flow of funds that would materialize the value of protected musical works. PAM CG achieves these goals by concluding contracts with users (radio and TV broadcasters, concert halls, hotels, restaurants, cafes and other users of copyrighted musical works). Thus the essential role of the PAM CG in regard to authors is to provide a regular flow of funds to the full extent, paid by users. Authors agreed on the proper distribution of funds based on worldwide experience in this domain, as expressed by Tariffs and Distribution Rules.
(Excerpt from the speech of the Director Božidar Raičević on the PAM CG Constitutional Assembly – January 10, 2006)