Patents could be granted in 90 days
Patents could be granted 90 days after applications are filed under UK Intellectual Property Office (IPO) plans to introduce a “superfast” patent processing service.
Currently, it takes an average of four and a half years to process patents, a delay which can restrict the development of new technologies. The proposed change is part of the UK Patent Box, recent legislation designed to offer corporate tax reductions to encourage innovative companies to come to the UK.
Daniel Blake, a solicitor at national law firm Clarke Willmott and an expert in Intellectual Property law, says the decision is a positive step in promoting UK innovation and “will give the recently introduced Patent Box regime more of a bite”.
“It should assist in creating a system more favourable to innovative companies, provided the UK Intellectual Property Office does not compromise on the quality of the examination of each patent that it undertakes as part of the procedure,” he adds.
The proposed “superfast” service is projected to incur an additional cost of between £3,500 and £4,000 and could come into effect as soon as later this year.
