Patent Law UK

P Law atent

Sir James Dyson has called on the UK Government to simplify the patent system so small businesses can afford to protect their designs. He suggested elements of the “simpler” German and French patent systems could be adopted in the UK to reduce the length, cost and complexity of cases.

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owever, inventors may be able to protect their inventions across Europe more easily after a deal was reached in July to set up a new patent court that will pave the way

for a single European Union patent; instead of applying for a patent in 27 member states, European businesses will be able to apply in one place.

The European Patent Office (EPO) estimates that a single patent, which could arrive in 2014, would cut registration costs by more than two-thirds, as inventors avoid the need to register and defend their ideas in numerous countries and languages.

Also, the Finance Bill 2012 will next year introduce new tax legislation to help incentivise companies to expand that patent portfolios and develop new patented products.

The Patent Box will allow companies to take advantage of legislation that creates a new deduction to give an effective 10% tax rate on patent profits, the scope of which will make the regime attractive to a considerable portion of the business world.

The reduction in corporation tax for patent income is designed to make the UK's tax system more competitive and appealing as a place for business innovation and growth. The 'Patent Box' regime gives companies a new incentive to protect and commercialise their patents.

Will these new legislations be beneficial to companies? Is Sir James Dyson right in asking the government for more changes? We speak to Patent Law specialists to ask for their views.

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Samantha Vangas (Grant Thornton UK LLP)

Ian Wood (Charles Russell LLP)

Theo Savvides (Osborne Clarke) Peter Ellis

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Alexandra Pygall & Mark Kramer

(Stephenson Harwood) www.finance-monthly.com