New Zealand’s new Patents Act 2013 comes into force on 13 September 2014. The new Act will increase the cost to renew a granted patent in New Zealand.
Changes to renewal fees under the Patents Act 2013
Under the current Act renewal fees are payable on granted patents at the 4th, 7th, 10th and 13th anniversaries from the filing date. Under the new Act renewal fees will be payable annually.
For patents granted under the current Act, the next renewal due date will be calculated in accordance with the current Act (being either the 4th, 7th, 10th or 13th anniversary from the filing date). However, the amount payable at the next renewal date will be determined in accordance with the regulations accompanying the new Act. Subsequent renewal fees will then be payable annually in accordance with the new Act.
The official renewal fees due under the current Act are shown in the table below. As a comparison the official renewal fees to be paid from the commencement of the new Act are also outlined in the table below.
The new fees are subject to the regulations which have yet to be published.
Advance payment of renewals fees recommended
Under the current Act it is possible to pay any or all renewal fees in advance at any time. Under the new Act renewal fees can only be paid 3 months in advance of the renewal date.
There are definite advantages in paying all or any renewal fees in advance of the new Act coming into force:
- significant savings to be made;
- reduce or eliminate the on-going management time needed to monitor and pay future renewals;
- reduce or eliminate the risk of a loss of patent rights if a renewal fee is missed;
- reduce or eliminate paying penalties if a renewal fee is not paid on time;
- if all fees are paid, there are no further fees payable under the new Act.
If you would like further information regarding the above or the advantages to applicants of filing patent applications, including national phase entry applications, before the new law comes into effect please contact your usual Baldwins contact.