Intellectual Property value creation and the Patent Box
At Innovation Tax our comprehensive IP services are delivered in conjunction with one of the UK’s leading Patent Attorney firms to ensure the right balance of technical, legal and tax specialists. Our service is predominantly focused on helping our clients invent, protect and commercialise their ideas, combining valuable expertise and offering a unique service.
The Intellectual property (IP) Invention phase
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 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).
The Intellectual property (IP) Protection phase
Using their in-depth knowledge and expertise, our IP team works closely with a leading patent attorney firm to help client’s 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.
The Intellectual property (IP) Commercialisation phase
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%.
HOW CAN WE HELP?
Innovation Tax offer a comprehensive range of IP services including the Patent Box which is closely linked with R&D Tax Credits, enabling many of our clients to maximise their tax relief by claiming across both schemes; whilst also commercialising their IP, and potentially increasing company valuation.