Extreme increase to official PTO fees
On May 5, 2015, the Venezuelan PTO published an increase to official fees regarding patents and trademarks in Venezuela that range between 940 and 2000 percent. However, the practical implementation was not clear until after the PTO declared three non-working days (from May 13-15, 2015) to clarify the procedures.
Finally, on May 22, 2015, the Venezuelan PTO published two Official Notices establishing that these new fees would be effective as of May 28, 2015 and that foreign applicants/owners will have to pay such fees in US dollars directly to the PTO account.
The following are the new official fees set by the Venezuelan PTO, calculated according to the Official Venezuelan conversion rate from the local currency (bolívar, Bs.) to US dollar of Bs. 6.30 x US $1 as informed through the aforementioned Official Notices:
Patent application (including payment of first annuity): US $2,380.95
Trademark grant and issuance of certification of registration: US $1,547.62
Trademark renewal: US $2,380.95
Change of name/address: US $476.19
Merger/Assignment: US $2,380.95
Registration of license agreement: US $3,571.43
Patent annuity payment:
2nd annuity: US $4,761.90
3rd annuity: US $7,142.86
4th annuity: US $9,523.81
5th annuity: US $11,904.76 (…)
20th annuity: US $47,619.05
The local association of industrial property agents (COVAPI) has filed an appeal with the Supreme Court in order to obtain a cancellation of the decree establishing said disproportionate fees.
Check back here to see updates about any developments.
Should you require any further information, please contact us.
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