Generate Foreign Filing Costs and Budget Effectively in AQX

Global patent filing can be an expensive endeavor. Therefore, it’s important to carefully consider how to focus your organization’s IP budget on the highest priority filings.

Accurate and detailed global IP filing cost estimates are a necessity to effectively manage your global foreign filing costs within your budget. However, this is easier said than done. IP budgeting is a time-consuming and complex task.

The Complexity of IP Budgeting

As IP teams know all too well, estimating filing fees is just the beginning of the global IP budgeting process. When it comes to filing in multiple countries around the world, you can quickly find yourself in a maze of different routes and decisions to make and how to best use your budget to achieve your filing strategy.

Every jurisdiction has a unique set of procedures from filing to grant to maintenance. In addition, the fees and rules for different jurisdictions are constantly being updated, making it difficult to rely on past data.

Further complexities arise when you need to choose a specific route for your international filing strategies among the various options available, such as the Patent Cooperation Treaty (PCT), the Paris Convention, the Unitary Patent (UP), and European Patent (EP) validation. New routes and regional agreements make it even more challenging to quickly perform a cost-benefit analysis between different global IP filing scenarios.

The Role of Automated Tools in IP Cost Forecasting

To accurately estimate your IP cost forecasts, you need automated and integrated tools with up-to-date costs and rules of different jurisdictions. This is where the AQX® IP management platform comes into play, helping you with detailed as well as macro patent portfolio-level estimates.

How AQX Simplifies Foreign Filing Budgeting

In AQX, you can see a ‘1-click quote’ that represents your official fees, translation, and service fees, all on one screen. This feature enables faster decision-making, saving you valuable time and resources.

But that’s not all. AQX provides seamless integration with translation and filing services through an expansive agent network. This gives you the flexibility to select preferred agents, and cost-effective administrative support when needed.

With the cost estimates and overall budget at your fingertips, you can plan effectively. This gives your IP team and business leaders a clear view of filing costs, allowing for better financial planning and resource allocation.

Table 1. AQX Home where you can view the status of your cases and costs per territory

Key Benefits

In summary, the AQX IP management platform enables you to manage your costs more effectively by providing:

• High level visual reporting with drill down capabilities: To report on IP financials, you can use our best-practice out-of-the-box reports or configure your own based on region, managing counsel, and more
• Portfolio management: To gain perspective and spot trends, AQX dashboards allow you to view historical, current, and forecasted spend alongside your current portfolio.
• Spending by phase: AQX provides easy ways to review your company's spending trends at different stages of the IP lifecycle to determine where the bulk of money is being spent or spot any anomalies.
• Vendor valuation: AQX empowers you to review costs from individual vendors on each matter or in total, translation services, outside counsel, and more.

Conclusion: Foreign Filing and Budgeting Data in One Platform

The AQX IP management platform is a comprehensive solution for managing foreign filing costs and budgeting effectively. It’s not just about knowing where to file, but also about understanding the costs involved and planning accordingly.