Switzerland is considering various tax reforms to maintain its fiscal attractiveness in light of recent international developments, including the call from the European Union for the abolition of the tax statuses. Among these reforms, "IP boxes" -- which involve a lower taxation rate for revenues related to innovation -- are being considered as a means to retain high value-adding companies in Switzerland. In this context, NERA's Transfer Pricing Practice organized a roundtable, held in Geneva on 12 June 2014, that focused on the subject of innovation. Practice Chair Dr. Emmanuel Llinares and Vice President Sébastien Gonnet provided an economist's view on innovation and competitive advantage, as well as insights on the economic methods to evaluate related intellectual property and intangibles. Dr. Llinares and Mr. Gonnet also commented on the types of innovation that Swiss-based companies (including luxury and industrial Swiss-based multinational companies as well as EU-based headquarters of foreign firms) are generally creating.