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We put together relevant news for you from the world of IP, as we experience them in our day to day work at PAVIS.

Additional protection against non-payments

The PAVIS trust account fully protects worldwide fee payments for the renewal of IP rights

The current developments around the Covid-19 crisis illustrate how quickly the economic situation of a company can change in ways previously unimaginable. The worldwide spread of the virus not only drastically impacts private life, but also national and international trade and economy, increasing not only health concerns but also concerns regarding business continuity and economic development. It is therefore all the more important that you as a company are protected against risks as securely as possible.

Following the approval to provide payment services, when PAVIS Payments GmbH commences business operations, all payment transactions for the renewal of industrial property rights will, without exception, be processed via a trust account. In this way, we fulfil a central requirement of the Federal Financial Supervisory Authority and offer our clients a significantly higher level of protection of their intellectual property rights.

For our clients this means: All payments for the renewal of IP rights are fully protected at all times. Consequently, even in times of crisis, PAVIS clients can rely on the timely execution of payments for the renewal of IP rights. The validity of your IP rights is thus guaranteed at all times.

Despite the additional security measures, the usual procedures for IP right renewals for our clients will not change. PAVIS GmbH remains the central point of contact for all matters. On behalf of its clients, PAVIS GmbH commissions PAVIS Payments GmbH to execute worldwide payments and sends all receipts of completed payments back to PAVIS GmbH.

We are all facing new challenges in the face of this worldwide crisis. We can only master them together. We will continue to work hard to protect your IP rights and be a reliable partner for you in these difficult times.

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