Three tips for more useful IP Fee Schedules

Whether you’re a corporate IP team or a law firm, you probably receive a large number of associate IP fee schedules. There’s no standard fee schedule format, so you often don’t have a lot of control over what you get, but there are three things you want to make sure are included in future schedules.

Let’s see what they are!

Tip #1 – All IP Fee Schedules Need an Effective Date

IP Fee Schedules

This may sound obvious, but you’d be surprised at how many fee schedules we see that have no effective date. This can make it difficult to know how old a fee schedule is and can lead to confusion if you have multiple schedules over the years from the same associate.

Tip #2 –Official Fees in Local Currencies Should be Required

IP Fee Schedules

Some associates are good about including the official fees in their schedules, others – not so much. The ones who don’t, usually argue that official fees change, which makes it hard to keep up to date. News flash, this is the 21st century, they should be able to figure it out. If you can’t easily determine the basis of the official fees your associate is using, monitoring and controlling invoice costs is extremely difficult.

Tip #3 – IP Fee Schedules Should Include a Currency Cap

We see these in a very small number of fee schedules, but times are changing. Companies and firms are beginning to audit associate invoices more closely, and currency costs can be a contentious topic. Having an agreed-upon currency cost markup makes it clear to everyone what to expect and makes it easier to ensure invoice compliance. It doesn’t matter what the number is (although 2% to 5% is pretty normal), what is important is that there is an agreed-upon number between you and your international associates.

Wrap Up

If you haven’t refreshed your fee schedules for 2024, now is probably a good time to send out those emails! If you want to get ahead of the game, ask your associates to provide the information above – you will thank us later!

Want more of this kind of stuff? Take A Look Here!

Designs
Design Fee Updates

March 1 Cost Decrease Coming For Hong Kong Designs

Hong Kong has announced a decrease in design fees to “promote the further development of intellectual property trading,” contingent upon the completion of the proper ...
Read More →
covid-19-global-economic-crisis
Design Fee Updates

Russia, EP, and OAPI Hague Design fee updates coming

Russia, EP, and OAPI Hague Design Fee Updates Coming Hague Design fees don’t change very often, but this week, we received notification of updates coming ...
Read More →
IP Currency Costs
Design Fee Updates

IP Currency Costs: More Than a Maintenance Issue

Over the past several years, we’ve seen a significant focus on improving currency cost controls for patent annuities and trademark renewals but comparatively less on ...
Read More →

More To Explore

Where do you want to go?

Use this button if you’re testing or conducting a pilot of any Prokurio tools. 

Bookmark https://staging.prokurio.com to bypass this page in the future

Use this button if you’ve completed onboarding and gone into production. 

Bookmark https://app.prokurio.com to bypass this page in the future

Not sure? Try Pilot/Test First

Prokurio Logo

We've Got a Lot To Share!

Sign up for quick IP-focused updates every Friday.
Prokurio Logo

We need a little info...

Give us some contact info and we’ll email you the program details. No SPAM, no hassles. 
Prokurio Logo

You're All Set!

You should receive a confirmation shortly.
Check your SPAM folder if you don’t see an email.
#image_title

Let's Do It!

Give us your email if you’d like to try out IP Forecaster. We’ll shoot you a confirmation email and get you setup quickly – check your SPAM folder if you don’t see an email within 10 minutes.

There’s no cost or long-term obligation.