Withers to capitalise on the changes to patent legislation

The law firm, which set up a branch in Sheffield three years ago, its first presence in the North, has recently moved to bigger premises within the same complex, Electric Works, to make room for its expanding team of intellectual property experts.

The number of employees at the office is now 14, with five staff being taken on since April of this year.

Paul Foot, one of the founding partners at Withers & Rogers’ Sheffield office, said that by the end of the firm’s first year in Sheffield it had accumulated 25 new clients and this number has now increased to 115. He added that the firm is also already seeing increased business from companies preparing to take advantage of the Patent Box legislation.

The Government plans to cut tax on profits attributable to qualifying intellectual property (IP) – normally charged at the applicable corporation tax rate – to 10 per cent to encourage more firms to innovate. The scheme is expected to come into force early next year.

Mr Foot said: “It is already having an effect on our business as people need to have a granted patent and it takes a minimum of 18 months to two years to get the patent granted. So our clients are now filling in applications on their new developments with a view to being able to benefit from the tax relief.”

The combined turnover for Withers & Rogers, including its renewals business, is nearly £30m – within this figure turnover for the core business is £23.3m. The firm has three other offices, in the Midlands, London and Bristol, employing 130 people across all sites.

In Sheffield, the client base has grown significantly, said the firm, in particular, thanks to a number of companies providing electronics and computing-based products and services, following the expansion of the team in this area. This growth adds to the existing advanced engineering capability in the office.

Mr Foot said: “I don’t feel like there’s been a time we’ve ever been busier. What we are seeing with our clients seems to be at odds with the general mood of the country. Maybe that’s because we are dealing with clients which are innovative, developing new products and exporting.”

He said the firm’s clients seem to have a positive outlook.

He added: “Sheffield is a vibrant centre for knowledge-based businesses, where demand for IP services is growing. It is therefore exciting to play a part in helping these firms maximise the opportunities their innovation presents and to flourish in the process.

“By continuing to invest in building our team of experts and offering great service, we intend to sustain our growth trend in the years ahead.”

Mr Foot said the firm wouldn’t rule out acquisitions in the future, but added: “We’d rather grow organically.”

The firm plans to take on more staff as the business grows. “We have grown turnover and profit every year throughout the recession which has been the product of quite a lot of hard work”, he added. Established in 1884, Withers & Rogers’ client portfolio stretches across the Americas, the Far East and Australia as well as mainland Europe.