Twelve Ways to Manage Global Patent Costs

In the face of scathing budget cuts, there is tremendous pressure on the finance and intellectual property (IP) teams of innovative companies to obtain broad and strong patents year after year. That is why it is so important for them to develop effective strategies to manage and minimize the costs of patenting their groundbreaking technologies throughout a patent’s 20-year lifecycle. Here are some ways they can do so.

1. Do your homework before deciding where to file;
2. Fees vary in relation the number of claims;
3. Go Green — opt for e-filing services;
4. Contain your translation costs;
5. Use WIPO’s Patent Cooperation Treaty to defer national filing costs;
6. Choose search and examination authorities wisely;
7. Take advantage of expedited processing options;
8. File a request for examination when you file your application;
9. Don’t forget the modified substantive examination option;
10. Keep any supporting documentation in order;
11. Consider licensing rights to reduce maintenance fees; and
12. Be open to strategic abandonment.

This is a brief summary of an article that was published in the August 2017 issue of the WIPO Magazine, which can be accessed here