North Carolina Patent of the Month – July 2021
Fishermen often own impressive, expensive boats and use high-end, high-quality fishing rods. When you own something high-quality and you are proud of it – you usually want to show it off. A typical boat used by a fisherman has open cock-pits and a cabin. In a larger boat, the cabin usually has a galley which includes a cabinet with a microwave oven, refrigerator and other similar appliances. Grady-White Boats Inc. has designed an expansion to these galleys which would store and display fishing rods securely, without impeding on the other appliances.
The system is designed with holes along the floor of a cabin of the boat, sized to hold the handle of a fishing rod. A retractable shelf is mounted above this, able to slide in and out as needed. The retractable shelf has cutouts for the thinner ends of the fishing rod to slide in, and a securing line on the shelf positioned to hold the fishing rods in place. Grady-White Boats is a renowned saltwater boat manufacturer and works to develop top of the line features to enhance anyone’s boating experience.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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