Guaranteeing your IP applications renewals required for the upkeep of IP rights is not as easy as it seems, especially for organizations that have sizable IP portfolios with assets registered in many jurisdictions. Even smallest slips or date oversight can ultimately lead to penalties from IP regulators or even the lapse of an application.
After having
invested in obtaining a patent, design or trademark, it is vital to ensure that
your rights are not lost as a result of failing to renew them; consequently,
let us elucidate more IP renewals and their importance:
Every
intellectual property is valid for a determined period of time. Protection
terms differ whether properties are trademark, patent, or industrial design.
These validations are granted by national authorities, who charge fees to keep
them in force. The frequency and timing of those payments vary, so it is
important to be sure you know precisely when and what to pay. The timescales for
renewals vary from a country to another but approximately are as per the
following:
Ø
Patents: Every year the due date is near the
application date, up to a maximum of 20 years.
Ø
Trademarks: Every 10 years, indefinitely.
Ø
Designs: Every five years starting the application date,
up to a maximum of 25 years.
There are
broadly two ways to manage renewal payments:
· Do it yourself: This means you
take a full responsibility for correct and timely settlements and carry on the
burden and obligation of handling your renewals by settling directly at the
national authorities and/or via online gates which not all countries use but yet
several countries is starting to use more automated methods.
· Use expert support: Which means choosing
a third party to settle on your behalf all of your renewals including reminding
you of your due dates ahead. This is, understandably, the chosen route for most
intellectual property owners who prefer to focus on their business than to take
the risk of their IP rights being lost.
When renewals
are managed in-house, one or more people are needed to follow up with agents,
set reminders, monitor deadlines, and so on for multiple IP applications in
multiple countries around the world. It makes sense to shift this
administrative burden to an outside provider, freeing up in-house resources for
higher value work, as long as there are measurable benefits, it can save you
time in two principal ways:
Ø Providing a single senior point of contact who takes an active role in managing your renewals and to whom you can delegate responsibility with confidence.
Ø
Giving a platform that provides you with an at
a glance view of progress with all your renewals and from which reports can be
generated easily. You can save money as you benefit from the volume- based
discounts negotiated with IP law firms networks. Without exception, clients
make an overall cost saving by moving their in-house renewals administration.
The document
requirements for renewals vary, and this makes up a large part of the work
involved. Preparing and executing powers of attorney and affidavits of use, as
well as the legalization and notarization processes, can be incredibly time
consuming; not least, because getting these documents right is vital, all of
this administrative burden should be taken from you by your IP rights
representative.
You never know
when you may need a copy of a filing receipt or a certificate; for example, for
litigation or customs purposes. You want to be sure that up to date information
and documents are going to be available to you and without being charged to
access it. Our firm make all data available to you at all times, showing you
the status of renewals and related documentation which can be sent to you whenever
needed.
It is not
uncommon at the time of renewal to find that a registration is not quite
up-to-date; for example, a change in ownership may be missing or an address not
recorded. You need to be certain that these matters will not be missed. An IP
professionals will take the initiative when dealing with them. You should chose
a dedicated IP Law Firm who will alert you to issues and make costed
recommendations as to how they can be dealt with.
While it makes
sense on a number of levels to outsource discreet and largely administrative
procedures, you want to be sure that you are choosing a representative whom
will take every precaution to ensure that not one of your renewals are at risk.
They should work to the most exacting standards. Renewals teams should be
thoroughly trained and take the greatest care possible to prevent inaccuracies.
Choosing Scutum
IP Law Firm to manage your annuities, renewals and IP maintenance actions will
significantly ease your procedural burden due to our services efficient
workflows for portfolio management and fee disbursement.
Our in-house
renewals team actively monitor the status of your IP rights and send reminders
prior to the renewal dates. This means you will not need to worry about
monitoring your renewals schedules yourself. You can rely on all relevant
reminders coming directly from our team, and avoid all the frustration and
hustle.
When clients
choose us as their IP rights protectors, the relationship begins with
establishing a system that will meet best the client’s needs. Through smart
reports, tailored communications and unique reminders and/or payment alerts; we
assume responsibility for the monitoring and settlements of your renewals on
your behalf by offering you:
· Patent, Trademark and Design Renewal Payments: Full renewal solutions
available for firms, companies and individual portfolio holders.
· Smart Reminders: Periodical
reminders sent ahead of renewal deadlines 4 months at least ahead of payment
deadline.
· Direct handling: Renewal fees
paid directly to relevant Patent Offices.
· Personalized Reports: Report
documents can be designed to fall in line with client’s preferred formats and
or layouts so that the information which is of most important is instantly
identifiable.
· Personal Service: Attentive and
responsive client services, real support from accessible team members 24/7.
· Increased Profitability: Outsourcing IP
renewal management is a more cost effective way to ensure the upkeep of your
renewal payments, freeing up time for clients who outsource, as well as cutting
down on expenses such as those involved when it comes to hiring and training an
in-house team.
· Payment Control: Clients can
choose whether or not they would like us to make automatic payments on their
behalf or if they would prefer to make after instruction payments following.
You can rest
assured that you have a partner in Scutum IP Law Firm that will expertly manage
your risk and guide you in the commercialization and safeguarding of your
intellectual property assets.
For more information on how we can assist you with IP renewal matters,
please do not hesitate to contact us.
Kindly note that, the
above information is simplified and must not be taken as a definitive statement
of the law or practice.