The paper, which was published on 1 March, outlines the UK’s digital strategy for 2017, with the ambition to grow digital sectors until they achieve a £200 billion contribution in 2025.
“Although this will be led by the private sector, government has a key role to play in supporting innovation and the commercialisation of ideas, and helping all digital businesses take advantage of opportunities for growth,” it said.
The UK says that IP needs an effective tax structure, and this is one area it is already tackling.
It says: “We have already created one of the most innovation and entrepreneur-friendly tax systems in the world.”
“The government has delivered highly competitive headline corporation tax rates and introduced a range of initiatives to further support innovative businesses. This includes the Patent Box, which enables companies to apply a reduced 10 percent rate of corporation tax to profits earned from patented inventions.”
Jo Joyce, associate in the IP and media team at Taylor Wessing, said: “Although the policy paper does not announce any significant change to UK IP policy, we are looking forward to seeing the details of the legislative proposals to implement these general themes.”
“Continuing to focus on the importance of an IP regime that is both robust and flexible in a time of fast paced technological change is welcome. It is notable and important that during this time of uncertainty the UK government is restating its belief in the need to create the right conditions for the digital sectors to continue to thrive, including having the right IP framework.”