What is Intellectual Property?
Intellectual property is something you create that’s unique.
It includes copyright, patents, designs and trade marks, and can be:
- Something you invent, like a new product
- A product’s design or appearance
- A brand or logo
- Written work, like content on a website or in a brochure
- Artistic work, like photography or illustrations
- Film recordings or musical compositions
- Computer software
You can’t protect an idea but you can often protect what you do with it, eg. you can’t protect an idea for a book but you can protect the words you’ve written.
Intellectual Property Office (IPO)
The Intellectual Property Office (IPO) is the official UK government body responsible for intellectual property (IP) rights including patents, designs, trade marks and copyright. They operate and maintain a clear and accessible intellectual property system in the UK, which encourages innovation and helps the economy and society to benefit from knowledge and ideas. They help people get the right type of protection for their creation or invention.
The IPO are responsible for:
- IP policy
- educating businesses and consumers about IP rights and responsibilities
- supporting IP enforcement
- granting UK patents, trade marks and design rights
The Patent Box - apply for a lower rate of corporation tax
The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions. The relief will be phased in from 1 April 2013 and the lower rate of Corporation Tax to be applied will be 10%.
This guidance only refers to patents but your company may also benefit from the Patent Box if it holds certain other medicinal or botanic innovation rights.
You can only benefit from the Patent Box if your company is liable to Corporation Tax and makes a profit from exploiting patented inventions.
If your company is a member of a group, it may qualify if another company in the group has undertaken the qualifying development.
For more information visit the Gov.uk webpage.