Annual Report 2014–2015
Audited Financial Statements and Additional Financial Information

Audited financial statements

CIPO continues to implement its financial strategy of investing in key areas that will enable the organization to meet the objectives set out in the 2012-2017 Business Strategy, while allocating the necessary resources for operations to ensure customer service standards are met. This includes ramping up investments to modernize IT infrastructure and legislative frameworks, as well as providing resources to reduce turnaround times (TAT). While the organization continues to benefit from a stable revenue base, CIPO management ensures that its resource capacity is growing effectively and sustainably.

CIPO's operating results for the past year were favourable, with the organization generating a net surplus of $8.7M. This is an improvement from the previous year, due mainly to an increase in revenues. These gains relate to increased production, with the organization continuing to reduce its outstanding inventory of requests for examination, as well as to increased revenues from patent maintenance fees. Expenses were flat to the previous year, with increases in spending on IT projects offset by lower amortization and accommodations costs. The centralization of IT employees within the department resulted in a decrease of costs for salaries and benefits and an increase of spending on professional services, but did not represent a significant change to overall expenses.

As CIPO continues to build its capacity and drive the necessary changes, it remains well positioned to finance the key activities that will enable successful delivery of the strategic objectives for the benefit of existing customers and future innovators.

Revenue by products and services
% 2014-2015
Patents 78.0% 119,642,039
Trademarks 18.8% 28,894,697
Copyright and industrial designs 2.9% 4,516,094
Information 0.3% 407,027
Total 153,459,858
Operating expenditures by category
% 2014-2015
Salaries and benefits 66.2% 95,323,994
Professional services 23.9% 34,405,511
Amortization 0.6% 838,804
Accommodation 5.1% 7,399,211
Other 4.2% 5,977,593
Total 143,945,114
Expenditures by branch grouping
% 2014-2015
Product lines 67.7% 97,409,052
Direct support 20.2% 29,038,453
Indirect support 12.2% 17,497,609
Total 143,945,114
Patent revenues
% 2014-2015
Application 11.8% 14,064,240
Examination 20.5% 24,577,129
Registration/grant 5.8% 6,942,784
Assignment 3.3% 3,911,416
Maintenance/renewal fees 52.3% 62,568,124
Other revenues 2.7% 3,241,315
ISA/IPEA 3.6% 4,337,032
Total 119,642,040
Trademark revenues
% 2014-2015
Application 7.5% 2,169,824
Examination 50.1% 14,475,096
Registration/grant 8.9% 2,571,128
Assignment 4.3% 1,230,326
Maintenance/renewal fees 14.0% 4,043,450
Other revenues 15.2% 4,404,873
Total 28,894,697
Copyright and industrial design revenues
% 2014-2015
Application 8.6% 389,613
Registration/grant 60.6% 2,737,680
Assignment 4.7% 213,275
Maintenance/renewal fees 23.0% 1,040,700
Other revenues 3.0% 134,826
Total 4,516,094
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