- Patent Box
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Intellectual Property Services & Patent Box
At Innovation Tax, we have developed a comprehensive range of intellectual property services to help our clients invent, protect and commercialise their ideas.
We work with our clients to obtain the necessary funding/grants to enable them to develop their ideas via R&D Tax Credits – administered by HMRC – and Grants through Innovate UK, as summarised in one of our recent blogs which can be viewed here. Through this phase, we are able to work with our clients to develop a strategy to protect and commercialise their intellectual property (IP).
Using their in-depth knowledge and expertise, our IP team works closely with a leading patent attorney firm to help clients scope and protect their inventions using patents, trademarks, copyrights, design rights and registered designs, allowing them to earn both the recognition and financial benefits.
Our skilled and experienced team (led by an award-winning IP specialist who has successfully filed 115 patents on behalf of a large FTSE company over a period of 30 years) carry out an audit to assess and advise on the likelihood of obtaining protection of IP.
Following the audit, and where the chances of obtaining protection are high, our IP team will work with the patent attorney to file a patent application on behalf of the client.
Once the patent application has been filed, we provide a commercialisation service whereby we work with leading investment, private equity and industry experts to help our clients commercialise their inventions.
Our service assists with outright sale of the IP, the setting up of licensing agreements and collaborating with industry experts to unlock doors to companies who are likely to benefit from the invention, effectively allowing us to be the clients’ point of contact to discuss and advise on their IP requirements.
One of the major benefits of holding a patent is that the company can claim Patent Box, whereby profits derived from patented inventions are taxed at a reduced rate of 10%.
Innovation is a key driver of the economy and, at Innovation Tax, we continually strive to offer IP services which represent value, providing practical advice to ensure clients receive the support they need.