Design and innovation are at the heart of everything Shaun Davis does.
Shaun founded tp24 in 2005 to provide stylish yet energy efficient lighting into new build homes. Along the way tp24 have collected numerous awards for their low energy designs and are now one of the UK’s leading LED lighting design and manufacturing companies. Their clients include household names in house building and hospitality.
Taking the ‘skinny’ patent approach
The roots of tp24’s first patent came from a change in building regulations designed to increase use of low energy lighting, which stipulated that 25% of lighting products needed to be from products which could not be replaced by inefficient incandescent or halogen lights. Shaun’s design of a new cap prevented this- only a tp24 energy efficient lamp would fit. He patented the design to protect his intellectual property from global competitors. It was comprehensive and withstood many challenges from bigger rivals but prompted a flurry of other design solutions in the market.
Now, however, Shaun’s approach to patents has changed. There is still the motivation to provide IP protection, but the focus has shifted. Instead of all effort being on acquiring a comprehensive and detailed patent designed to block all competitor opportunity, which can be a long and expensive journey, he’s taking a more balanced approach. The emphasis is equally on quickly protecting the key IP element to take advantage of government tax support using a ‘skinny’ patent approach.
I want lighting to look good, work well and it has to light the space in a way as to please your customers. It’s important to stay current. Delivering this means continually investing in design and innovation. Focusing on a more balanced ‘skinny’ patent approach allows you to get a significant proportion of your investment back quickly. The reduced Corporation Tax of 10% provided by the Patent Box scheme is money the government is happy to pay out to support you.Shaun Davis, Managing Director at tp24
Patent Box allows companies to apply a 10% rate of corporation tax to the profits earned after 1st April 2013 that are attributable to qualifying patents and the products in which they are used. You don’t have to manufacture the patented inventions, you may also qualify if you choose to licence the invention to others to develop. Not all of the company’s profits may come from exploiting patented inventions. The legislation and methods of calculating the relief are complex, which is why tp24 chose to work with the MPA Group.
How MPA have helped…
For a company like mine, working with MPA has made a really positive impact. They have the expertise to take the complexity out of government tax schemes designed to help business invest and grow and the experience to ensure that other related schemes, like R&D tax credits, are combined to maximise the benefit to tp24. With MPA’s help we can use these reliefs with confidence.Shaun Davis, Managing Director at tp24