How to Patent Green Technology for Your Business

Green technology is big business. From climate change activists like Greta Thunberg to plastic bag tax and programmes like Blue Planet highlighting the tidal wave of plastic in our oceans, we are all increasingly aware of the devastating impacts of pollution. Therefore, the demand for green or greener ways of doing things is high. If you’re an entrepreneur or start-up and you have an idea or prototype for a green technology, you can capitalise on this increased demand.

One of the things you’ll need to consider is whether you want to get a patent for your invention. A patent gives you the right to take legal action against anyone who makes, sells or imports your invention without your permission and the patent application process for green technology is slightly different than for other inventions. Here we look at how to do it.

green tech

What is green technology?

Green technology, or green tech, is an umbrella term that refers to any technology that has an environmentally friendly production process; a technology that mitigates or reverses environmental damage; or even a clean energy production process, such as solar energy.

The goal of green technology is to be sustainable, protect the environment, and even repair past damage. Whether it’s new ways of recycling, renewable energy sources or LED lighting, there are lots of different types of green technology that we currently use, but as we continue to see the effects of global warming rise, humankind needs to do more.

The patenting process

Before you start the patenting process, you need to consider whether a patent is right for your invention. Not all inventions have a large financial value, and the cost and expense of securing a patent could outweigh the profit potential of your invention. In addition, from research to confidentiality agreements to filing your application, there are many stages to the patenting process, so it is best to consult the skills of an experienced patent lawyer, such as a member of the team at Withers.

What is accelerated processing?

The usual time frame for a patent to be processed can be anywhere from a year to four years. However, the Green Channel for patent applications, which was introduced in 2009, allows you to request accelerated processing of your application if your invention has an environmental benefit. You must be able to prove that this is the case.

If, for example, it’s the process that your invention is made by that is green, rather than the product itself, you will need to be able to explain this, and your request may be refused by the Intellectual Property Office (IPO) if they do not consider your invention to meet the criteria for the Green Channel. The IPO keeps a database of all published Green Channel patent applications. The most recent ones include a method and apparatus for oil condition monitoring and a road pollution extraction system.

If you’ve got that killer green idea, not only could you be helping to save the planet, it could be a profitable endeavour, so it’s essential that you protect it if necessary. By following the advice above, you could see your product brought to market sooner than you think.

How To Pay Yourself When Self-Employed in Canada

When you’re self-employed, it’s challenging to pay yourself. As an entrepreneur, you may be tempted to put all of your savings into the business rather than taking a pay reduction. A firm that fails to include a liveable salary in its business functions from the start is typically left scrambling for a solution.

When everyone would like to think about how they were on top of things from the start, the truth is that it can take you over a year to get your own company, and specifically, your business finances, operating. Even the most famous people in the world have their ups and downs in the beginning.

Tips To Pay Yourself When Self-Employed in Canada

However, it is possible to achieve your goals if you have a strong belief in yourself and are willing to work hard for them. Without further ado, let’s see what methods to consider while preparing yourself to maintain as self-employed in Canada.

What Kind Of Business Structure Should You Choose?

There are many business structures to commit to nowadays. You can work as a single proprietor for the first several years of blogging and freelancing, reporting your internet revenues as “other income” on your taxes. As soon as you begin generating and selling digital items, you can decide to organize your business in order to limit personal responsibility and better manage your earnings.

As a solo owner, you run your own firm. Your personal taxes rate is applied to all of your earnings. Tax deductions for business expenditures allow you to lower your personal tax liability by defraying the costs of running your own firm.

A sole proprietor is a good option for most little or side enterprises that are run completely by the individual. It may be wiser to form a corporation if your company’s long-term objectives (such as expanding to the point where you must recruit staff) or the items you sell need it.

In The Case Of Self-employment In Canada, What Amount Should You Pay For Your Own Service?

The self-employed should pay themselves 50 percent of their internet corporation’s gross income up to $250,000 in sales. If you’re making $3,000 a month, you should take home a net profit of $1,500 and keep the rest invested in your firm to help it expand. If you’re struggling with it, payday loans nova scotia can come as the right solution.

It might be a hardship approach to receive the money you need in a matter of minutes. In addition, you won’t have to deal with bank processes that may take a week or more and need a slew of paperwork and hours of standing in line.

There are many courses online that can teach you similar methods of taking care of your earnings. Compared to brick-and-mortar retailers, internet firms have lower overheads. A computer is all you need to get started, you can operate from anywhere, and most internet resources are fairly inexpensive. On the other hand, costs tend to rise in tandem with your company’s expansion.

Incorporation Is Required For Business Flow Maintenance

It is a tax planning option if you have established your small company and do not pay yourself a wage. Allowing yourself dividends is another alternative. There is a slew of variables to take into account, and consulting with an expert is highly suggested. Income tax and CPP contributions will be deducted from your compensation if you opt to pay it yourself but you will not be entitled to Social Insurance coverage as the firm’s owner.

Even if you don’t pay yourself a salary, you may be required to pay Workers’ Compensation insurance in your province of operation. Because of the new Tax on Split Income (TOSI) laws that took effect on January 1st, 2018, this subject has become much more complex. Chartered Professional Accountants (CPAs) and tax attorneys are the best sources of information in this field.

Look Yourself In The Mirror And State Your Profit

You need to know how much money you’re bringing in and how much of it you’re going to have to spend. In the long term, if you take out too much money for yourself while your company’s income is minimal, you may not be able to keep your firm afloat.

To be sure, your firm may benefit from a reduced salary, but it’s equally critical that you don’t underpay yourself. As a Canadian self-employer, you can better compensate yourself by closely examining your company’s profitability.

How Much Are You Worth?

Even if it involves working many longer hours than your staff, you’ll do anything to keep your business up and running, right? Evaluate this and pay yourself appropriately, as if you were a worker putting in those additional hours and ensuring that you get paid for it.

Make a choice based on what other people in your field are doing. As a company owner, it’s important to know your business kind, profit, how often your firm has been operating, and the value you’re bringing to the table.

What Are The Advantages Of Being Paid As A Self-employer?

If you’re self-employed in Canada, it’s reasonable that you want to discover the most tax-efficient way to extract earnings from the firm. As a professional, you will be taxed on a regular, recurrent, and consistent amount of your earned income if you pay yourself a salary or wage.


Then yet, dividends might have their own advantages as well. A small-scale business owner in Canada who has incorporated their company may reap the advantages of paying themselves an annual income or remuneration.


Your business structure has an impact on how much money you are paid and how much you have to pay in taxes. In the absence of any formal business structure, a single trader is believed to be in business on their own. Individuals who operate as sole proprietors or in partnerships pay themselves directly from the company’s bank account. At the end of the year, all of those personal withdrawals count as profit and are taxed.

During the entire season, set away a portion of your income in a separate bank account so that you can pay your taxes on time. That’s the safest way to keep yourself on the surface when it comes to self-employing. Yes, it can be tough but in the end, a dedicated person will always prevail, remember that!