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11 August 2015
The tax implications on the assignment of patents from individuals to limited companies.
I am trying to establish some basic principles related to the ownership and transfer of patents. I would appreciate some guidance on the tax position because the more I read it seems the less I know.
The first scenario that I am dealing with is that I act on behalf of two individuals who have invented a product that was granted a UK patent. At present the patent is not in the realms of being a valuable standalone patent. It is more a “nice to have” asset that protects a product that would probably be uneconomic for a competitor to produce anyway. It is not essential for the business.
All the costs of developing the product (about £80 000) and obtaining the patent (about £20 000) were paid for by a limited company of...
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