IPwe Annuity Payment

Paying annuity fees for patent renewal does not need to be a complex endeavor. IPwe can make it simpler, completely transparent, faster and far less expensive than any other option.

Executive Summary

IPwe leverages smart contracts and Artificial Intelligence (AI) to remove complexity from the annuities process. Our platform combines Accurate IP data and AI-powered decision support giving patent owners the tools to make effective payment decisions. IPwe’s transaction infrastructure enables secure, automated transactions between parties and patent offices with each payment recorded via blockchain technology to provide immutable proof of payment.

IPwe built its innovative new payment solution using IBM’s Hyperledger that offers increased security and significantly reduces costs.

IPwe supports existing service models, enabling patent owners to manage patent payments safely and cheaply with full fee transparency, as shown in the below invoice sample:

Sample IPwe Invoice

sample ipwe invoice

Tools to Maximize Efficiency and Security

Transition management


Reporting


Budgeting


AI-powered decision making


THE IPwe PLATFORM IS INNOVATING THE WAY OFFICES FEES ARE PAID:

If you have any additional questions please contact your IPwe representative or email us at mary@ipwe.com.

Annuity Payment Services
Today
IPwe

Service Model

Patent owners have three options:

  1. Handle in-house & build their own agent network – need to build infrastructure and team to manage and is expensive
  2. Handle via one or a few managing agents – they use their network to make payments, lack of infrastructure & economies of scale makes it expensive
  3. Handle via intermediary – they manage
    local agents, have the technology &
    economy of scale to reduce cost but are
    an extra link in chain and don’t pass
    through all of the savings

IPwe gives patent owners and law firms the technology and infrastructure to handle annuities at the same scale and efficiency as the intermediaries:

  • Where direct payment is possible, patent
    owners can pay directly to the PTO via the
    IPwe Platform.
  • For other countries, IPwe gives patent
    owners and law firms the infrastructure
    to connect, contract and enact renewals, all
    handled with the IPwe Platform
  • Patent owners can assign responsibility to a
    law firm or outside party if they don’t want
    to handle annuities.

Portfolio Accuracy, Onboarding
& Data Access

  • Multiple data validation and law
    calculations to determine data accuracy
  • Data is stored between different
    proprietary systems, with different number
    formats, incomplete and inaccurate records
  • Patent owners to invest significant effort in
    keeping their patent portfolio maintained
    and up-to-date
  • IPwe works with patent owners to upload
    and auto-match their cases against the
    Global Patent Registry.
  • We work with patent owners & law firms to
    verify non-matched cases.
  • All data is stored on the Global IP
    Repository, which has standardized number
    formats is is updated regularly against PTO
    record and always free to access.

Contract Execution

Each contract is handled and managed offline, with limited standardization and no view as to whether each party is getting a good deal.

All contracts are enacted online, with standardized terms. Both parties can benchmark pricing and deal components against the Global IP marketplace

Pricing & Invoicing

    • Pricing and invoicing are managed yourself.
    • Manage yourself – the lack of technology
      & infrastructure makes it hard to manage
      invoicing & reconciliation processes – can
      result in duplicate payments & overcharging.

Manage via intermediary – invoices and fees are consolidated, but are opaque and difficult to understand, making it hard to see the true price vs, markup

IPwe provides fully transparent, itemized invoices, showing each fee component:

  • IPwe fee
  • Responsible Party Fee (optional)
  • Local Agent Fee (where needed)
  • Currency cost (optional)
  • Official fee

Currency Management

  • Expensive and usually accounts for around
    50% of additional invoice cost (outside of
    official fees).
  • Usually required to select one currency for
    payment.

IPwe brings the cost down to a 1% FX fee if you required single currency invoicing. You can opt to pay in local currencies and cut out all currency cost.

Payment Proof

Upon request – a combination of PTO receipts (where available) and bank wire transfer proof (which can be difficult to read)

  • Each transaction is managed and recorded
    on the Blockchain
  • It’s transparent, immutable, instant and free

Payment Terms

Either you pay in advance or you pay up an additional quarter on the invoice value to your provider for credit terms. Credit is generally capped at 60 or 90 days.

IPwe provides rolling credit terms of 1% per month of the total invoice value. We don’t cap credit terms or how long patent owners can borrow for.

Patents For Sale

Shop for patents. Here's a list of recent patents to hit the market. Browse recent patents.

Stay Informed

Stay informed with the latest news from IPwe.

We send 1-2 emails a couple times a month, no spam, and you can unsubscribe at anytime. Terms & Conditions