During this review it is prudent to be aware of the maintenance costs associated with each patent and each territory. For example, a business with a patent granted in the UK and US will expect to pay approximately £15k to maintain it in both territories throughout its lifetime.
Many businesses will amass a portfolio of tens, hundreds or even thousands of patents in multiple territories, resulting in astronomical costs. Therefore, achieving value for money is even more important. Businesses that conduct maintenance reviews tend to save tens of thousands depending on its portfolio size. Having a concrete understanding of the future direction of the company, what strategic value each patent has and a visualisation of costs per patent per territory is also required. Using this knowledge, you can, with reasonable confidence, decide whether a particular patent is worth maintaining.
Source Advisor’s maintenance review will deliver:
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Source Advisors has a wealth of experience helping companies of all sizes navigate uncertainties surrounding tax and licensing of IP, allowing them to confidently maximise the advantages of IP ownership, licensing and accessing the UK’s Patent Box incentive.
Our IP consultancy services, including Patent Box, are closely linked with R&D tax relief and a company can often claim tax relief under both schemes. Source Advisors can offer you advice to maximise your claims across both schemes. Find out more about our R&D tax relief services.
