Payment & Cancellation Terms

Patent Monetize > Payment & Cancellation Terms

Research Report Preparation

Patent Monetize offers a comprehensive Research Report Preparation solution to enhance the value of listed patents. This solution includes Patent Valuation, Market Research, Infringement Search, Evidence of Use, and Presentation Preparation.

  • Payment Structure

  1. Users requesting the Research Report Preparation solution are charged a specified fee, determined by the complexity and depth of the required reports.
  2. Payment is typically required upfront, before initiation of the research process.

  • Refund Policy

In cases where a user decides to cancel the Research Report Preparation solution before its commencement, a partial refund will be applicable, with deductions for any preliminary work already undertaken.

Process of Interaction with Sellers/Buyers

Patent Monetize facilitates the entire process of selling and buying patents, including connecting sellers with potential buyers, negotiating agreements, and managing the overall transaction process.

  • Payment Structure

  1. Users availing of the Process of Selling solution are charged a fee for the platform’s active involvement in the sales process. Buyers are not charged for using the buying solutions.
  2. The fee is typically a percentage of the anticipated or agreed-upon value of the patent.

  • Timing of Payments

Payment for the Process of Selling solution is typically made at predefined milestones during the sales process, ensuring alignment with the progress of the transaction.

Margin on Licensed or Sold Patents

Patent Monetize earns a margin on successfully licensed or sold patents. This margin is a percentage of the final transaction value and reflects the platform’s role in facilitating the successful monetization of the intellectual property.

  • Payment Structure

  1. The margin is calculated based on the final sale or licensing amount and is deducted at the time of the transaction’s closure.
  2. The margin percentage is predetermined and transparently communicated to users via email or direct contact.

  • Payment Timing

    The margin payment is processed after a successful transaction, ensuring that Patent Monetize is compensated for its solutions upon completion of the monetization process.

General Payment Policies

Payment Methods

Patent Monetize accepts payments through various methods, including credit/debit cards, wire transfers, or other approved payment gateways.

Currency and Taxes

All transactions and payments are conducted in the designated currency (e.g., USD, INR, EUR) per the user’s preference. Any applicable taxes are clearly indicated and added to the total amount payable.

Payment Confirmation

Users receive payment confirmation and an invoice detailing the solutions rendered and associated charges promptly after each successful payment.

Dispute Resolution

In case of any dispute regarding payments, users may file a complaint through our Support and Help form. Patent Monetize provides a transparent and fair dispute resolution mechanism to address user concerns and ensure prompt resolution.

Updates to Payment Terms

Patent Monetize reserves the right to update or modify the payment terms. Users will be notified in advance of any changes, and continued use of the platform implies acceptance of the revised terms.

General Payment Terms for Patent Monetize Platform

Payment Methods

  1. Accepted Modes of Payment: Patent Monetize supports various payment methods for user convenience, including credit/debit cards, wire transfers, and payment gateways.
  2. Currency Options: Users can make payments in their preferred currency; Patent Monetize provides a currency converter tool for transparency in currency conversions.

Invoice and Payment Confirmation

  1. Issuance of Invoices: Upon successful payment or completion of a solution requiring payment, Patent Monetize generates and issues an invoice, shared instantly via email and made available on the Dashboard.
  2. Detailed Invoice: Invoices provide a breakdown of the solutions availed, associated charges, and any applicable taxes, ensuring transparency in financial transactions and compliance with legal and regulatory requirements.
  3. Prompt Communication: Users receive prompt email notifications containing the invoice and payment confirmation for their records.

Payment Timelines

  1. Upfront Payments: For solutions like Research Report Preparation, payment is typically required in advance of the solution’s commencement.
  2. Milestone Payments: For solutions like the Process of Selling, payments are structured in milestones aligned with key stages of the transaction.
  3. Margin Deduction: Margin on Licensed or Sold Patents is deducted at the conclusion of a successful transaction. For sold patents, a one-time commission is taken at closing, unlike the recurring margin applicable to a license.

Refund Policy

  1. Research Report Preparation: Partial refunds are applicable for Research Report Preparation solutions if a user cancels before initiation of the solution, subject to deduction for any preliminary work already undertaken, such as project assessment or data scoping. All approved refunds are processed within 7-14 business days from the date of confirmation by our accounts team.
  2. Other Platform Charges Refund: Refunds for other solutions including, but not limited to, one-time platform end-to-end licensing facilitation, commercialization support, and platform engagement are evaluated on a case-by-case basis, taking into account the nature of the solution, stage of completion, and any third-party expenses already incurred. Once a refund is approved, the amount is credited through the original payment method within 7-14 business days from the approval date.

Taxes and Fees

  1. Transparent Taxation: Any applicable taxes are clearly communicated to users during the payment process.
  2. Handling Fees: Patent Monetize includes handling fees for certain payment methods, transparently communicated to users before finalizing the transaction.

Security Measures

  1. Secure Transactions: Patent Monetize employs secure payment gateways and encryption protocols to protect the confidentiality and security of users’ financial information.
  2. User Authentication: Users must complete authentication processes to prevent unauthorized access to their payment details.

Dispute Resolution

  1. User Concerns: In the event of a payment-related dispute, users may contact Patent Monetize via a direct call to +91-9818858137 or through our email ticket system.
  2. Transparent Resolution Process: The platform provides a transparent and fair dispute resolution mechanism for both urgent and routine matters, aiming to address user concerns promptly.

Updates to Payment Terms

  1. Notification: Users will be notified in advance of any updates or modifications to the payment terms.
  2. Acceptance of Terms: Continued use of Patent Monetize solutions implies acceptance of the revised payment terms.

Privacy and Confidentiality

  1. Data Security: Patent Monetize prioritizes the security of user data and employs measures to protect sensitive financial information.
  2. Confidentiality: Any information related to user payments is handled with the utmost confidentiality and in compliance with applicable privacy laws and regulations.

Payment Cancellation and Refund Policy for Patent Monetize Platform

Research Report Preparation

  1. Cancellation Requests: Cancellation requests for Research Report Preparation are applicable only during the initial stages, before commencement of work by Patent Monetize.
  2. Refund Process: If a user cancels before commencement of the solution, a refund is applicable, subject to deduction of partial cancellation charges for any preliminary work already undertaken by Patent Monetize.

Process of Selling, Interaction with Sellers

  1. Cancellation During Process: Users may initiate cancellation of the Process of Selling solution under specific circumstances, such as changing their decision to sell the patent.
  2. Refund Process: Refunds for the Process of Selling solution are subject to case-by-case evaluation, taking into account the progress made and work completed by Patent Monetize.

Margin on Licensed or Sold Patents

  1. Cancellation of Transaction: In the event of a cancelled transaction after the commission has been deducted, Patent Monetize reviews the circumstances to determine any applicable refunds.
  2. Refund Process: Refunds, if applicable, are processed based on the specific details of the cancelled transaction, considering factors such as stage of completion and expenses incurred.

General Refund Policy Guidelines

  • Timely Refund Requests: Users are encouraged to submit refund requests promptly, providing detailed reasons for the cancellation or refund.
  • Refund Communication: Communication regarding refund approval, denial, or any attached conditions is promptly conveyed to the user.

Conditions for Refund Eligibility

  • Misrepresentation or Non-Disclosure: Refunds may apply if the user can demonstrate that misrepresentation or non-disclosure significantly impacted the transaction.
  • Platform Non-Performance: Refunds may be considered if Patent Monetize fails to deliver agreed-upon solutions due to platform-related issues.

Dispute Resolution Mechanism

  • User Appeals: Users have the right to appeal refund decisions through a designated appeals process.
  • Fair Consideration: The appeals process ensures fair and thorough consideration of user concerns, with the aim of achieving a mutually agreeable resolution.

Exceptions to Refund Policy

  • User Responsibilities: Users are reminded of their responsibility to provide accurate information and adhere to platform guidelines. Failure to do so may affect refund eligibility.
  • Platform Violations: Patent Monetize reserves the right to deny refunds if users violate platform policies or engage in fraudulent activity.

Communication of Refund Process

  • Clear Communication: Patent Monetize maintains transparency by providing clear communication at every stage of the refund process.
  • Updates and Notifications: Users receive updates and notifications regarding the status of their refund requests, ensuring they remain informed throughout the resolution process.