Just before Christmas, Business Secretary Vince Cable announced a number of new ways to further creative innovation and growth in the UK. The plans unveiled by Mr Cable for 2013 include the IPO offering a super-fast patent processing service which will deliver patents in only 90 days, and a faster examination service for trade marks, reducing the examination report time from 10 days to 5 days. This will mean individuals and companies wishing to protect their intellectual property can gain registered protection quicker, in return for payment of a higher fee. This news comes as Sweet and Maxwell reported that over a record 14,000 patent applications were received last year for computer-related technology, an increase on the previous year by 19%.

The introduction of a new "fast-track" patent will certainly benefit those who are looking to take advantage of the new Patent Box Tax Regime from 1 April 2013.