From 15 October 2024, a new penalty will be imposed for late payments and restoration of patents, following an unofficial announcement from Department of Industrial Property (DIP) of the Ministry of Industry, Science, Technology & Innovation (MISTI).
What are the implications?
The DIP has not previously imposed penalties for late annuity payments or restoration fees. However, from 15 October 2024, new penalties are being introduced for overdue patent annuity fees and restoration payments. To avoid incurring these additional charges, patent holders should review their portfolio for any upcoming payments well before this deadline.
In the event that the applicant does not pay the annuity by the deadline, a grace period of 6 months is allowed for late payment however this comes with a daily fee of US$0.125 per day during the grace period.
However, if the patent application is not paid within the statutory timeline (but before the end of the 6-month grace period), the patent application will be deemed withdrawn, or the patent will lapse. However, it should be noted that should a patent application lapse due to non-payment of the annuity, the patent office is still able to initiate the restoration process for the patent application. This process requires payment of a restoration fee of US$25 and additional fee of US$ 0.125 per day from the grace period to the date of payment of the annuity with the patent office.
To illustrate the annuity payment process, penalty and restoration fees, please see below.
Please click on the image to see more details.
What you need to do
To ensure compliance and avoid unnecessary costs, we recommend the following steps:
These proactive measures should avoid the additional financial burden and ensure that your patent rights remain protected without interruption.
Stay Informed
We will continue to monitor the situation and provide updates as more information becomes available. For any questions or further clarification, please do not hesitate to contact the authors Monyrak Phang and Ratana Soy or patentscambodia@rouse.com.
