Illinois Patent of the Month – March 2024
Life Spine, Inc., a pioneering name in the field of orthopedic implants, has been granted a patent for a new orthopedic implant design set to improve the landscape of orthopedic surgery. Their latest orthopedic implant is designed to provide variable angle locking of bone screws, addressing several critical issues encountered in traditional plate and screw implants.
Traditional orthopedic implants often struggle to accommodate the unique anatomy of each patient while securely fixing the bone screws in place. Life Spine’s innovative solution tackles these challenges head-on, offering both variable angling and positional locking of bone screws relative to the plate.
At the heart of this invention is a meticulously crafted plate with bone screw pockets featuring conical sidewalls and annular slots. These design elements allow for the precise insertion of bone screws while providing the flexibility to adjust the angle as needed. Additionally, the plate includes strategically positioned lips and cutouts that securely grip the threading of the bone screw heads, preventing back out and ensuring stability.
To further enhance its functionality, the orthopedic implant incorporates an annular insert made of PEEK, a highly durable material known for its biocompatibility. The insert plays a pivotal role in locking the bone screws into position, thanks to its keyed configuration that meshes seamlessly with the screw pockets in the plate.
This three-component system comprising the orthopedic plate, annular insert, and variable angle locking screw offers unparalleled versatility and reliability in orthopedic surgery. Surgeons can now confidently address a wide range of bone issues in the spine, foot, hand, and other parts of the body with precision and ease.
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.
Who We Are:
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.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
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.
R&D Tax Credit Preparation Services
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.
If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.
R&D Tax Credit Audit Advisory Services
creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.
Our Fees
Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/about-us/research-tax-credit-consulting/our-fees/
Choose your state










