Are you scared of what it can cost you to obtain a patent? If you are an independent inventor, you might be. Large corporations may be able to shell out thousands of dollars without flinching, but when the money comes from a single income it’s a different story.
So, just how much would it cost Internet to acquire a patent? Let’s begin with the fees through the US Patent Office. To file a fundamental patent application the fee is $500. If the patent is granted, there exists a $700 issue fee in addition to a $300 publication fee. There may additionally be surcharges when the patent application has ended 100 pages or has greater than 20 claims. There is typically some communication between the patent office and the inventor (or the inventor’s attorney) during the review procedure of the applying, and in case the inventor’s responses are late, there could be even more surcharges.
Given that we’ve established the Patent Office’s fees alone can be rather expensive, let’s speak about attorney fees. It might not really unreasonable to have a patent attorney charge from $150 to $400 an hour or so for their services. Some companies may pay $12,000 to $14,000 in attorney fees to obtain a patent application for the patent office. However, there are several attorneys who charge lower fees – $2,000 to $4,000 total – for his or her work making this process far more affordable.
At this point you may wonder if it is all worthwhile. Consider this inquiry: Will owning a patent about this idea generate more revenue than it will cost to have the patent? If not, it may become more economical so that you can just walk out of the whole thing. But for those of you who believe having the patent is definitely an investment and are worthwhile within the long run, there are certain things you can do in order to minimize your costs.
Except if you are patent savvy, you are going to still need a professional to make the patent application. A possible way to minimize costs is to apply a patent agent instead of a patent attorney. Patent agents are non-attorneys who definitely are capable to prepare patent applications and typically have lower rates. Regardless of whether you select legal counsel or an agent to prepare the application, their costs is going to be worth it.
You should understand that not every patents are made equally. The value of the patent is determined by the manner in which it is written, particularly in the “claims” area of the patent. Very often, individuals file patents without the assistance of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have no trouble getting around such weak patents, and also the individual may lose huge amounts of money worth of revenue.
Just since you hire a lawyer doesn’t mean that you don’t have control over the expenses. Well prepared You Can Try These Out who communicate effectively making use of their attorneys will have the largest savings. Do not approach legal counsel until you have done everything else you can do. Before making any major investment you have to do your homework. Websites like uspto.gov, inventorbasics.com, yet others ittgcu be considered a good place to start. Prepare figures, write a comprehensive description from the invention, and perform a patent search (uspto.gov). In the event you start a visit with an attorney, and then he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.