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Cambodia introduces penalties for Patent fee late payment
Starting from 15 October 2024, Cambodia will introduce penalties for failing to pay patent annuity fees on time. This move is intended to enforce stricter adherence to the payment of these fees, which are required to maintain a patent’s validity. Annuity fees are typically paid annually to keep a granted patent in force, and failure to comply can lead to the patent being invalidated.
The introduction of penalties aims to encourage patent holders to meet their payment deadlines promptly. If patent owners in Cambodia miss the annuity payment deadline, they will now face a financial penalty.
Patent holders who fail to pay their annuity fees by the deadline will have a 6-month grace period to make the payment, but this will come with a daily penalty of US$0.125. If the annuity is not paid within this grace period, the patent will be deemed withdrawn or lapsed. However, Cambodia offers a restoration process if the annuity is paid late.
Key points about the restoration process:
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The patent office allows the restoration of the lapsed patent, provided certain conditions are met.
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To restore the patent, a restoration fee of US$25 must be paid along with an additional daily fee of US$0.125 for each day the payment is delayed, from the grace period up until the annuity is fully paid.
This system provides some flexibility for patent holders, but timely payment is still encouraged to avoid accumulating penalties and risking the loss of patent protection.
This regulatory change is crucial for patent holders in Cambodia, as it underscores the importance of managing IP assets carefully and ensuring that payments are made in a timely manner to avoid additional fees or the risk of losing patent protection altogether.
Furthermore, it aligns with Cambodia's efforts to strengthen its intellectual property system in line with international standards.
