Want your patent renewals to be cost-effective? Consider these tips

IP strategists suggest that having a right strategy in place right from the outset of invention disclosure will help companies cut down their overall patent maintenance costs. With a little planning and preparation, you can learn how to manage your costs and achieve significant savings. Established companies, regardless of their assets or market values, look for every possible way to reduce direct and indirect costs. Patent renewal is one area where innovative companies hunt for opportunities to reduce the maintenance costs as much as possible. Anyone familiar with patent renewals would know how painful a process it can be and

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Patent Renewal Rates under Different Renewal Period Schemes

by Bharath Venkat In order to keep a US patent in force, the US Patent & Trademark Office requires that patent owners make maintenance fees at years 3.5, 7.5 and 11.5 after grant. This is in addition to filing, search, examination and post-filing fees. Other patent issuing authorities use different rules. For the European Patent Office (EPO), maintenance payments must be made annually and cannot be pre-paid. For Japan (JPO) and the Korean Intellectual Property Office (KIPO), fees are due annually and can be prepaid. If the patent owner decides not to pay the maintenance fee, then the patent owner

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