Obtaining a patent is a major milestone, but it is only the beginning of your intellectual property journey. To keep a patent active, many jurisdictions require regular payments, commonly referred to as renewal fees or annuities. These payments play a vital role in maintaining a patent’s legal validity throughout its term.
The significance of Annuity Payment
Annuity payments serve several essential purposes within the global patent system:
By fulfilling renewal requirements, patent holders retain their exclusive rights over their innovations.
The revenue generated from annuity fees contributes to the maintenance and operations of Intellectual Property Offices.
