Disengaging from Patent Annuity and Renewal Payment Services - Developing and Executing a Well Conceived Exit Strategy

Patent attorneys and intellectual property law firms appreciate the importance of mitigating the risks associated with IP practice management. Recent insurance company statistics indicate that approximately 50% of IP related malpractice claims are the result of clerical errors related to filing and docketing. These seemingly mundane tasks can have significant financial implications for both law firms and professional insurance providers should patent rights become irretrievably lost or compromised. That is why law firms as well as their insurers are seeking ways to execute a well-conceived exit strategy for the management of patent annuity and renewal payments.