New Zealand IP Office Aims to Increase Patent Fees by 50%
2018/06/28
New Zealand IP Office aims to increase patent fees by 50%. The Intellectual Property Office of New Zealand (IPONZ) has suggested increasing patent examination fees by 50% in an effort to recoup the costs of delivering patent services. It currently costs NZ $500 (US $345) for a patent to be examined or re-examined under the Patents Act 2013. This fee will increase to NZ $750 (US $515) under the proposals. This is compared to a utility patent examination fee of $760 in the US, according to the?US Patent and Trademark Office. The increase will help to boost patent revenue in New Zealand, according to the IPONZ. The office said that revenue currently does not cover the costs of patent services. The proposals were part of the IPONZ' s “IP Fees Review”?discussion document, released this month. The publication outlined ways to even the imbalance with the ultimate goal to increase patent revenue by 75% by 2024. The document highlighted that patent application fees under the Patents Act 1953 are lower than the fees under the Patents Act 2013. Due to the transitional provisions of the Patents Act 2013, applicants with a pending patent application under the Patents Act 1953 may continue to pay fees under the 1953 act, said the IPONZ.
Source: World IP Review
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