If you don’t know what a patent is, it’s the registered proof that an idea or product belongs to an individual – it’s his or her intellectual property.
However, with regards to patents there are quite a few rules and regulations that come into play.
One of those is of course having a patent agency, such as InventHelp, or a patent attorney – someone who is hired to oversee the deals that you do and help out with any kind of law or legal query the person with the patent might have.
Introducing the patent annuity
Patent annuities are basically fees that are paid. They are also called maintenance or renewal fees – which are paid to maintain an approved patent in force.
In some countries the law requires the payment of maintenance fees for pending patent applications – but this isn’t common in most countries.
Example: the UK
In the United Kingdom an individual is not required to pay any kind of renewal fee for a patent that is still pending. However, an approved or granted patent does require payment, on the 4th anniversary of the filing date, and once again every year after that.
It’s evident that renewal fees do actually count in the patent holder’s favor as it ensures that a patent remains relevant and cannot be replaced or re-registered.
If an individual has applied for the filing of a patent, he or she must remain in close contact with his/ her lawyer so that any kind of payment notification can be dealt with without confusion as you can see from https://southfloridareporter.com/how-inventhelp-can-assist-with-new-invention-ideas/ article.