How do I budget for IP registration?

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Published on LexisPSL on 04/12/2013

The following IP Q&A provides comprehensive and up to date legal information covering:

  • How do I budget for IP registration?
  • Set a budget but be prepared for unanticipated costs
  • Factor in preliminary costs
  • Calculate official fees
  • Register objections and oppositions
  • Think about tax
  • Consider post-registration costs
  • Budget for enforcement
  • Useful links—official fees

Set a budget but be prepared for unanticipated costs

Setting a budget involves taking a long term view as intellectual property (IP) rights can take years to register. Even though registration costs may seem prohibitive at the outset, these costs may be spread over several years. A common mistake is rushing to register IP rights and then abandoning the relevant applications at a later stage because of lack of funds owing to a poorly planned budget.

Generally, patents are the most expensive and time consuming right to register, followed by trade marks and designs. Domain names are the cheapest to register, although they are not strictly IP rights. Obtain a fee estimate for official and professional fees from an experienced patent or trade mark attorney at an early stage and ensure this is revisited and revised regularly as the scope of registration is likely to change. An attorney will present different routes to obtaining protection and the cost implications (eg using the Madrid system to obtain international trade mark protection or applying for trade marks country by country).

Oppositions and objections will significantly add to the costs and time involved so it is impossible to formulate a precise budget.

Factor in preliminary costs

Trade mark and patent attorneys can carry out basic clearance searc

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