South Carolina Patent of the Month – December 2023
Shakespeare Company, material science experts, have made a name for themselves by building the solutions that some of the world’s most reliable products depend on. In a recent bid for innovation, the company has patented their clear polyamide resin formula. Commercially-available polyamide resins are rarely clear and certainly not to the degree achieved by Shakespeare Company.
The formula utilizes hexamethylenediamine (HMDA), diamines, and organic diacids to achieve a materially sound resin. This provides a never-before achieved quality for resins that can be used in a variety of products, like headphones.
Currently, Shakespear Company’s solutions are used in a range of industries including military electronics, marine electronics, polymer and filaments, and lawn and garden products. Since originally manufacturing polyamides in the 1960s, the company’s strategy evolved to develop a polymer business platform serving the needs of both internal and external polymer demands. Now, more than fifty years later, Shakespeare Company has the expertise and R&D capabilities essential to problem-solving clients’ needs across markets, manufacturing those solutions, and delivering best-in-class service.
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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Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
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What is the R&D Tax Credit?
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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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.
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