Today speakers at the London Patents Summit have warned about the dangers of The Patent Box, a new tax cuts for patents scheme starting in the UK in 2013.
The Patent Box tax scheme enables companies to apply for a lower rate (10%) of Corporation Tax to profits earned after April 2013 from patented inventions.
While many businesses and consultants have welcomed the news some patents professionals argue there is a downside to the tax scheme.
They argue that, as a result of the tax break, there could be a sudden increase in trivial or meaningless patents.
Considering a career as a patent attorney? Check out the Graduate Patent Attorney Careers homepage.
Find out more about the London Patents Summit.