This scheme is the latest in a range of UK Government initiatives designed to provide support for science and engineering which are seen as key weapons in the on-going fight with global recession.
However, initial research suggests that overseas companies may have been first to recognise the potential value of Patent Box and stolen a march on UK businesses. In 2012, there were significant increases in the number of UK patents filed by US, German and Japanese companies. Whereas filings by UK businesses showed no growth.
Cambridge Design Partnership says: "At this early stage it’s hard to draw conclusions on the impact of the Patent Box, despite HMRC’s view that it’s a £1 Billion initiative. We’ll be tracking its progress and have teamed up with Cambridge University’s Judge Business School to undertake research into how the scheme will affect our clients. We’ll be reporting later in the year on our findings.
"We continue to advise our clients on how best to exploit the new scheme, and get the most out of their patented products and services. Let’s see if technology’s ‘new best friend’, HMRC, lives up to its promise!
"Please get in touch if you want to know more or discuss how we could help your business benefit from Patent Box (or other IP initiatives and issues). David Lewis can be contacted on 01223 264428 or [email protected]"
About Cambridge Design Partnership
Cambridge Design Partnership is a consulting company that develops 'first of a kind' products in the medical, consumer and cleantech sectors. We combine leading engineering talent with business acumen and a deep understanding of the technical and human needs that drive innovation.
Cambridge Design Partnership’s multi-disciplined experts and proven process will benefit any multinational or ambitious company aiming to maximise their return on investment in innovation.
Working as an integrated team, the company creates new products with a dynamic, flexible approach that leads to enduring client relationships, anchored by high quality work and excellent customer service. Our diverse team of engineers, scientists and designers has grown rapidly to establish a world leading reputation for technical excellence, astute project management and, above all, thinking differently.
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