Posts Tagged: "patent renewals"

Examining the Data: Billions to Be Spent on Patent Renewal Fees in 2021 and Beyond

Around $8 billion is set to be spent this year on patent renewals at the top 10 patent offices. That total jumps to a staggering $184 billion due on all currently issued patents across the lifetime of those assets. While some businesses that have significant licensing operations may have to double down on developing and managing their portfolios over the coming years, the vast majority of in-house functions that operate as cost centers might well find themselves coming under increased budgetary pressures should market conditions worsen. 

What makes a good IP renewals provider?

IP portfolios are business assets. The payment of patent annuities is an important part of ensuring a valuable IP portfolio is primed for monetisation. Efficient IP management demands lots of time, attention and cost – particularly if portfolios are directly managed by patent offices around the world. Many patent holders elect external IP renewals teams to carry the administration, manage patent renewals and offer insight into which patents should be abandoned.