Patent Boxes Show Importance of Intellectual Property Valuation
Ireland recently became the latest European Union (EU) country to adopt the “Knowledge Development Box” (known as “patent box” in other countries) income-based tax structure for intellectual properties. Thanks to the plan, companies that hold intellectual properties, such as patents, in Ireland will receive tax breaks on income earned from said intangible asset. Compared to the U.S., the savings could be substantial. Ireland is considering reducing their already low corpora