Are you scared of what it will cost you to acquire a patent? Should you be Inventors Help, you may be. Large corporations may be able to shell out thousands of dollars without flinching, but when the cash comes from a single income it’s another story.
So how much would it cost someone or a small company to obtain a patent? Let’s start with the fees through the US Patent Office. To file a fundamental patent application the fee is $500. If the patent is granted, there is a $700 issue fee in addition to a $300 publication fee. There may also be surcharges when the patent application is over 100 pages or has greater than 20 claims. There is certainly typically some communication involving the patent office as well as the inventor (or the inventor’s attorney) throughout the review procedure of the applying, and if the inventor’s responses are late, there could be even more surcharges.
Now that we’ve established the Patent Office’s fees alone can be very expensive, let’s talk about attorney fees. It would not really unreasonable to have a patent attorney charge from $150 to $400 one hour for their services. Some companies may pay $12,000 to $14,000 in attorney fees to obtain a patent application towards 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 a lot more affordable.
At this time you might wonder when it is all worth the cost. Think about this question: Will owning Patent My Idea with this idea generate more revenue than what it is going to cost to have the patent? Otherwise, it might be less expensive that you should just walk out of the whole thing. But for those who believe having the patent is definitely an investment and are worth it over time, there is something that you can do to minimize your costs.
Except if you are patent savvy, you may still desire a professional to make the patent application. A possible method to minimize costs is to apply a patent agent as opposed to a patent attorney. Patent agents are non-attorneys who are qualified to prepare patent applications and normally have lower rates. Whether or not you select an attorney or even an agent to prepare your application, their costs is going to be worth the cost.
It is essential to remember that not every patents are produced equally. The worth of Inventors Corner depends on the method by which it really is written, particularly in the “claims” section of the patent. Much too often, individuals file patents without the help of a patent attorney or agent and get a patent with unnecessary limitations. Competitors do not have trouble ixcxxf around such weak patents, and the individual may lose millions of dollars amount of revenue.
Because you hire legal counsel doesn’t imply that you don’t have control over the costs. Ready inventors who communicate quickly using their attorneys will have the largest savings. Tend not to approach an attorney until you have done anything else that can be done. Prior to making any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, as well as others might be a good starting point. Prepare figures, write a comprehensive description from the invention, and do a patent search (uspto.gov). Should you take up a visit with an attorney, and that he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.