Innovation is a watchword of UK plc as it looks to regain ground lost to the recession. Companies need to do it; policymakers want to see it, but how do you create the right conditions to help inventors and entrepreneurs to flourish in the UK. One such scheme is the Patent Box legislation, first mooted by the Labour government in 2009, and taken forward by the coalition in 2011
The plan, which is due to come into effect in April 2013, will allow companies to elect to apply a 10 per cent rate of corporation tax to all profits attributable to qualifying intellectual property – which includes patents granted by the UK Intellectual Property Office and the European Patent Office, as well as supplementary protection certificates, regulatory data protection and plant variety rights.
This feature will explore how far this legislation goes in encouraging innovation and development; and what more can be done to help those companies rich in intellectual property, but not patents.
PLUS… It’s an Olympic year, so beware of infringing Olympic copyright. We’ll update you on the seemingly everyday words that are subject to increased scrutiny in 2012, and why you should avoid using them when promoting your business.
Editorial contact: Chris Maguire
Editorial deadline: 10th February 2012
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