Are you afraid of what it will cost you to have a patent? Should you be Inventhelp Intromark, you could be. Large corporations may be able to spend thousands of dollars without flinching, however when the money comes from one income it’s an alternative story.
So, just how much would it cost someone or a small business to acquire a patent? Let’s get started with the fees from the US Patent Office. To submit a basic patent application the charge is $500. When the patent is granted, there exists a $700 issue fee along with a $300 publication fee. There could also be surcharges if the patent application has ended 100 pages or has a lot more than 20 claims. There is typically some communication involving the patent office and also the inventor (or the inventor’s attorney) during the review process of the application form, and in case the inventor’s responses are late, there may be much more surcharges.
Given that we’ve established the Patent Office’s fees alone could be very expensive, let’s speak about attorney fees. It would not be unreasonable to get a patent attorney charge from $150 to $400 an hour for their services. Some companies may pay $12,000 to $14,000 in attorney fees to get a patent application towards the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for his or her work making the procedure much more affordable.
At this point you might wonder should it be all worth it. Consider this question: Will owning How To Patent A Product Idea on this idea generate more revenue than what it will cost to obtain the patent? Otherwise, it may be more economical for you to just walk away from the whole thing. But for people who believe getting the patent is surely an investment and will also be worth the cost in the long run, there is something you can do to reduce your costs.
Unless you are patent savvy, you are going to still desire a professional to make the patent application. A likely method to minimize costs is to apply a patent agent rather than a patent attorney. Patent agents are non-attorneys who are capable to prepare patent applications and typically have lower rates. Whether or not you decide on a lawyer or an agent to prepare the application, their costs is going to be worthwhile.
It is important to understand that not every patents are produced equally. The value of Invention Prototype is determined by the manner in which it really is written, especially in the “claims” part 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, as well as the individual may lose millions of dollars worth of revenue.
Just because you hire legal counsel doesn’t imply that you don’t have control over the expenses. Prepared inventors who communicate quickly and effectively using their attorneys will have the greatest savings. Tend not to approach an attorney until you have done everything else you can do. Before you make any major investment you have to do your research. Websites like uspto.gov, inventorbasics.com, as well as others might be a good starting point. Prepare figures, write a detailed description from the invention, and do a patent search (uspto.gov). If you begin a visit with the attorney, and that he/she begins asking questions you don’t have answers for, rescheduling another visit could be necessary.