A 2013 UK Government incentive regime, Patent Box is designed to help the economy by encouraging the retention of Intellectual Property (IP) and the resulting job opportunities.
To qualify a business must make a profit from exploiting patented inventions that they own or they exclusively license-in and have undertaken qualifying development on. Qualifying businesses can then enjoy a lower Corporation Tax rate of 10% on patent profits.
The eligible profits include selling patented products, licensing out patent rights, selling patent rights, infringement income and damages.
Any IP that was registered with the UK Intellectual Property Office, European Patent Office or in many other European Economic Areas can qualify and keep applying for the relief as long as they continue to own the IP and generate profits.
Find out more by visiting Patent Box