With the help of our patent renewal service, you can fully entrust us with taking care of your renewals while putting the least amount of strain on your resources. We are completely transparent about all costs associated with the renewal procedure.
Our skilled staff collaborates closely with reputable international partners and continuously stays current. We monitor all deadlines, rule modifications, and official costs.
Benefits of our patent renewal service
- lowering of administrative expenses and workload,
- Synchronized databases, process standardization, and automation,
- transaction monitoring,
- anytime access to current data,
- improved data quality due to more excellent timeliness and uniform formats,
- Risks associated with inaccurate data are reduced,
- evaluations are quick and reliable without manual input, and a price overview is always available.
Regular upkeep and timely application renewal are the lifeblood of a granted patent. Patracode uses its in-house cutting-edge process and technology platform to manage renewals on time. The Patent will be renounced if the maintenance deadline is missed before it expires.
A patent life should ideally expire within 20 years of the patent application. It should be renewed by paying maintenance fees regularly on a date specified by the patent office that relies on the filing and award of a patent. The sum varies from one nation to the next. And when a person has several patents, maintaining them becomes a complicated process for managing the patent portfolio.
It is always recommended to maintain the Patent using an outside agency with experience handling renewal tasks, which involve communicating with and paying to various authorities in the local currencies of the authority. While maintaining the portfolio is essential, it is a batch task with its complexities. We help you with budgeting for renewal chores as well as payments.
Following your interest, we continue to offer you monthly proposals for patents that will be renewed in the following month. We estimate the amount you should set aside for renewals after inputting the family. We provide you with a form to be filled out to create a budget for the patent families that need to be renewed.
We proceed to pay the annuities as soon as we have a purchase order for the proposal. Then we increase the bills for your payment before the end of the month, together with the receipt of the annuity payment for your docketing. One copy of the receipts is kept on file so we can keep track of the payments for your future reference.
The grant and renewal costs are due within three months of the day the Patent is entered into the register of patents, with a maximum extension of nine months from the recorded date and the payment of the applicable extension fees. One oddity with patent renewals is that annuity payments keep increasing over time. It’s important to consider if you are working on the invention and interested in keeping it. The money saved may undoubtedly be applied to the upkeep of promising technology and the pursuit of significant patent applications.
In the US, maintenance fees for patents are payable 3½, 7½, and 11½ years following utility patent award. While an application is pending, there are no maintenance costs to be paid.