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Planned changes to patents welcomed
Plans to offer a reduced rate on income from patents have been welcomed by the printing industry.
Industry confederation Picon has said Patent Box, which featured in the pre-Budget report, is a "positive and encouraging move".
The plans are designed to ensure the UK remains "an attractive location for innovation". From April 2013 there will be a 10% level of tax.
Executive director of Picon Tim Webb said it was a positive move and one that would hopefully encourage small and medium-sized enterprises to get more from their inventions by patenting them.
Graham Harris, the director of Tech-ni-fold and founder of the Tri-Creaser finishing product, agrees with Mr Webb.
He says that people need to earn from their inventions and adds that the costs associated with patenting products are often too high.
"You are effectively penalised for your success," he said.
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