NorthBridge Consultants Blog

December 1 Toronto Seminar Reminder: Leveraging Your SR&ED to Reduce Patent Application Costs

In today’s competitive and data-driven business environment, the importance of protecting your intellectual property is higher than ever.

Exploiting synergies between SR&ED/IRAP and patent applications can save time and resources.

Many people don’t realize that significant parallels exist between what is required for a SR&ED/IRAP filing and for a patent filing. Join experts from Northbridge Consultants, a professional engineering firm and subject matter expert on government funding, and PCK, a leading boutique intellectual property firm, to find out how you can efficiently combine your SR&ED/IRAP and patent application processes.

The seminar will include a discussion about the requirements for the SR&ED and IRAP programs, about the fundamentals of intellectual property protection, and about how the application process for each filing can be combined into a single process, allowing you to coordinate actionable tasks with relevant time periods.

Agenda:

  • Introduction to government funding (SR&ED/IRAP)
  • Introduction to fundamentals of intellectual property protection
  • Explanation of how to process SR&ED applications in parallel with patent applications
  • Case studies (Using a SR&ED technical narrative to write a patent)
  • Discussion; questions and answers

Speakers:

Gerry Fung  CPA, CMA, P.Eng.
Vice President, Business Services at NorthBridge Consulting Services Inc.

Andrew Currier  BSEE, LL.B., P.Eng.
Co-Founder and CEO of PCK | Perry + Currier Inc. | Currier + Kao LLP

Date/Time:
Thursday, December 1, 2016 from 4:00 PM to 5:30 PM (EST)

Location:
PCK
500-1300 Yonge Street
Toronto, Ontario M4T 1X3

Booking/ Registration:
Please RSVP online by December 1, 2016.

Is a Canadian Patent Box System on the Horizon?

With the process of implementing a ‘patent box’ system ongoing in Quebec, much attention has been given recently to such a system across Canada to address our innovation gap—despite possessing one of the highest rates for R&D tax credits, Canada is lagging behind other leading developed countries when it comes to introducing innovation.

A patent box system is intended to foster the commercialization of intellectual property by reducing the percentage of tax applied to profits resulting from patented innovations. In contrast to SR&ED tax credits, which target the front end of the innovation lifecycle, a patent box regime targets commercialization, the last stage of the lifecycle. Therefore a patent box has the potential to mesh well with the SR&ED program to promote the entire R&D process.

The federal implementation of a patent box, however, would be neither straightforward nor cheap. The development of a robust framework would be required to determine the validity of claims and criteria for eligibility.

Many patent box systems have been introduced in developed countries within the last decade, especially in Europe. The UK program, for example, began in 2013 and reduces corporate tax on profit broadly related to the invention, from 22% to 10%. The Netherlands has had an innovation box system since 2007, which now encompasses a similarly broad range of IP, with a tax rate reduced from 25% to 5%.

Beginning in 2017, Quebec’s “innovative companies deduction” will allow revenue from innovation developed in the province to be taxed at 4% rather than 11.8%. The limitations to eligibility are an effort to keep the benefits of the tax reductions to companies based in Quebec. Other provinces, such as Saskatchewan, could be following suit soon.

While it is currently unknown when, or if, a Canada-wide patent box system is forthcoming, one thing that remains certain is that the debate on the need, benefit, and cost of the program will continue.  NorthBridge Consultants is dedicated to bringing you the most recent news and updates on various federal and provincial programs and will continue to provide updates on the topic of patent boxes as they become available.

Employee Spotlight- Jesse Allin

Jesse Allin joined the NorthBridge engineering team in December 2015 and has since become a key member of our staff. As an SR&ED Specialist, Jesse consults with clients to help them identify eligible Scientific Research and Experimental Development projects and organize supporting documentation. He also works closely with our technical writing team to prepare project narratives for submission. Of the many aspects of his job, Jesse most enjoys being exposed to a wide variety of manufacturing sectors, such as plastic moulding, fluid transmission, fabrication, and product conveyance, and learning about various developments in those fields.

Jesse grew up in Orangeville and Haliburton, Ontario and currently resides in Kitchener, Ontario. He holds a BASc in Mechanical Engineering from the University of Waterloo. Jesse has previously worked in the automotive plastics industry and the petroleum industry for backup generator systems, both in project management and engineering design roles. He also acquired experience in industrial consulting, aerospace, bulk solids handling, and technical standardization through his co-op work in university.

In his spare time, Jesse enjoys playing games of all kinds—board games, card games, and video games. He is an avid doodler and plans on putting together a graphic novel in the future. Jesse loves swimming and going for walks with his wife and dog, and in the coming years, hopes to purchase a home in the country outside Kitchener-Waterloo where he can start a family.

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November 2 Toronto Seminar: The Government Can Be a Source of Non-Dilutive Financing for Your Startup

Don’t miss an opportunity to learn about how SR&ED tax credits, non-repayable grants and interest-free loans can give your early-stage company the edge it needs to finance growth.

If you need to extend your runway, consider doing so in a non-dilutive manner by taking advantage of government funding.

Join us for a free seminar on November 2, 2016 that will cover the following topics:

  • Scientific Research and Experimental Development (SR&ED) tax credits
  • Industrial Research Assistance Program (IRAP) funding
  • Ontario Centres of Excellence (OCE) funding
  • Federal Development Investing in Business Innovation (IBI) loans
  • Business Development Bank of Canada (BDC) support
  • Structuring your company to take advantage of Canadian funding opportunities

When:
November 2, 2016
5:00 – 5:15 p.m. : Registration
5:15 – 6:30 p.m. : Seminar with Q&A
6:30 – 7:15 p.m. : Networking and Refreshments

Where:
Aird & Berlis LLP
Brookfield Place, 181 Bay Street, Suite 1800 – Toronto (map)

Booking/ Registration:
Please RSVP online

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New $25M SMART Green Funding Program for Ontario SMEs

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Ontario Manufacturers & Exporters can receive a non-repayable grant of up to $200,000 for projects that will reduce Greenhouse gas emissions through the new Canadian Manufacturers and Exporters (CME) Green Smart program, scheduled to open November 2016.

The $25M CME Green SMART program is part of Ontario’s new $325-million Green Investment Fund.  If your company is implementing capital investment projects that will generate greenhouse emission reductions, leverage energy-efficient technologies, and follow best practices through process and/or product improvements, you may be eligible for a non-repayable grant up to 50% of eligible projects costs (up to $200,000) through the CME Green Smart program.

Eligible Companies:

  • Minimum of 10 full time employees.
  • Fewer than 25,000 tonnes per year of annual greenhouse gas (GHG) emissions.
  • Not participating in Ontario’s Cap & Trade program.
  • Companies with more than one facility may apply for funding for one project per facility for a maximum of 5 facilities up to $500,000.

Requirements:

  • The project must:
    • Support reduction in GHG intensity and/or avoidance through upgrades to process/production equipment, or
    • Involve implementation productivity improvements, which in turn lead to lower GHG emissions on a gross or per-production unit basis.
  • The project must be associated to the manufacturing process and cannot be a “comfort” upgrade (i.e. lighting, heating and cooling) that is not related to production.
  • A technical project assessment form will be required that includes a report of current (pre-project) GHG emissions, followed by a 12 month post-implementation verification that demonstrates GHG reduction.

The CME Green SMART application intake is expected to open on November 1, 2016 through the online system . This program will support approximately 110 projects in Ontario.

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  • NorthBridge Consultants' Government Funding Blog is dedicated to bringing businesses news and information to help them identify and access the most appropriate government funding programs.

    We offer opinions and insider information that can provide a pulse on government initiatives, the health of the Canadian economy, and firsthand thoughts from Canadian business owners.

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