GSK to invest further in the UK
Despite the limbo-like state of the UK economy, GlaxoSmithKline is planning to continue British investment.
Adrian Tombling, Patent Attorney and Head of the Life Sciences Group at intellectual property firm, Withers & Rogers, commented on this bold move:
“This is a vote of confidence for the UK economy and demonstrates how much has been achieved to create a fiscal and legislative landscape where companies that invest in innovation can thrive. The introduction of the Patent Box regime in 2013, which allows businesses to pay significantly less corporation tax on any profits they earn from their patented inventions, is viewed as a major benefit to innovative companies and is helping to balance out any Brexit uncertainties.
“From an intellectual property perspective, there is much to play for in the next two years and there is an opportunity to build on the strong commercial proposition that is attracting big businesses like GSK. With the support of industry, we must secure a positive position for Britain that will continue to offer companies in the UK access to pan-European patent and trade mark protection on competitive terms, at the same time as giving them access to other international markets.”
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