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The charity’s source of income going forward is anticipated to be entirely from royalty payments on various patented inventions, starting with AirDropBox. On 30th June 2014 the Cook Foundation (Cook Islands) granted the Cook Foundation UK a Licence to use patent application GB1309599.7 filed on 29 May 2013 and filed internationally as PCT/GB2014/051642 on 29 May 2014. The Cook Foundation UK then Sub-Licenced this patent to AirDropBox Ltd of 4 Priory Park, Mills Road, Aylesford ME20 7PP, UK private limited company 08428370 also on 30th June 2014 and anticipates receiving royalty payments from AirDropBox Ltd as from 1st September 2014 as the only source of all its income for the time being.
There are currently six other inventions in the process of being patented and developed. It is anticipated the Cook Foundation UK will also be granted licences on these other inventions and receive increasing royalty income in the long-term on these patented inventions and that this will be the charity’s only source of funding.