From Copenhagen to Global IP: One Founder's Journey to Fix Patent (and other IP) Renewals

What if missing a payment by one cent could cost a company its billion-dollar patent? This eye-opening conversation with Mads Vibor Jørgensen, CEO and co-founder of PatentRenewal.com (https://www.patentrenewal.com), reveals the hidden complexities of global intellectual property management and how specialized technology is transforming this critical but overlooked field.

Most people assume patent renewals work like domain names – just enter your credit card information and you're done. The reality couldn't be more different. As Mads explains, companies seeking global protection must complete separate renewals annually in up to 240 jurisdictions, each with unique processes, laws, and payment requirements. One small error can result in losing valuable intellectual property rights worth millions or even billions.

Through his experience leading a global organization for young engineers and scientists, Mads discovered that the world's brightest minds were being bogged down by bureaucracy rather than focusing on solving important problems. This insight led him to create PatentRenewal.com, which combines specialized legal technology with sophisticated financial systems to navigate the labyrinthine world of global patent renewals.

The financial complexity is staggering – payments must be in exact local currencies with precisely formatted information. In Japan, renewals require physical letters using the Japanese imperial calendar system. These peculiarities make standard payment solutions inadequate and create opportunities for hidden fees, particularly in currency exchange where providers might charge 2-5% on transactions across a $150-200 billion market.

What's particularly fascinating is PatentRenewal.com's thoughtful technology approach. Rather than rushing to implement a wholly generative AI system, PatentRenewal.com (i) built a more hybridized system that features an expert system-first set of tools that optimize for reliability and (ii) combined those tools with a parallel generative AI system to perform follow-on auditing functions. This hybrid model offers valuable insights for anyone building mission-critical legal technology.

Whether you're a legal tech entrepreneur, IP professional, or innovator protecting your ideas, this episode offers valuable insights into building global solutions, market education challenges, and the critical importance of hiring exceptional talent. 

Subscribe now to the Legal Tech StartUp Focus Podcast (https://legaltechstartupfocuspodcast.buzzsprout.com) to hear more conversations with pioneers transforming the intersection of law and technology.