IP Authority Correspondence

What is IP Authority Correspondence?

An Intellectual Property (IP) authority correspondence is the record of all information exchange between your company and IP authorities across jurisdictions.

An IP authority correspondence records any communication in the form of letters, e-mails, notices, reports and filings, between your company and local or global IP authorities.

It typically includes communication related to:

• Registration of your IP across different jurisdictions
• Renewal of an IP and its status (pending or reviewed)
• Changes in the IP regulations and compliance by your company
• Infringement on IP rights by your company or a third party

Why is IP Authority Correspondence important for business today?

An IP authority correspondence enables your company to:

• Gain visibility on requirements for IP registration and renewal across jurisdictions
• Provide legal proof of ownership of an IP asset
• Access the internal IP records and update them on a regular basis
• Track the progress and status of IP registration and renewal
• Assess the changes in regulations on the registration, renewal and use of IP assets
• Estimate financial costs related to IP registration, renewal fees, infringement and non-compliance penalties
• Mitigate any legal and operational risks related to any regulatory non-compliance or breach of any IP rights across jurisdictions

Why is IP Authority Correspondence important for an event tomorrow?

An IP authority correspondence is important for an event tomorrow, as it helps:

• Evaluate the use, registration and renewal process of IP assets and local regulations governing them
• Assess the financial compensation that your company is liable to receive or pay in case of an IP infringement
• Understand any issues that may have arisen regarding your IP or your relationship with the IP authority

Pros of addressing IP Authority Correspondence

• Transparency of communication with IP authorities, third parties, legal attorneys and your company in case of any IP infringement
• Budget for costs related to IP registration and renewal
• Formulation and implementation of processes to manage IP registrations, renewal, regulation changes and any infringements on IP rights
• Up to date IP registrations protect your business trade secrets and processes, helping your company retain its competitive advantage
• Compliance with regulations stipulated by IP authority across jurisdictions
• Guard against misuse of your company’s registered IP without consent

Cons of not addressing this topic

• Delays because of difficulty to track and monitor IP renewal dates
• Increased potential for non-registration or non- renewal of IP rights
• Increased time and cost of due diligence for both internal company management and potential investors.