Are you afraid of exactly what it can cost you to acquire a patent? If you are an unbiased inventor, you might be. Large corporations may be able to shell out 1000s of dollars without flinching, however when the amount of money comes from a single income it’s an alternative story.
So how much would it cost Why Not Find Out More to obtain a patent? Let’s get started with the fees through the US Patent Office. To file a basic patent application the charge is $500. If the patent is granted, there is a $700 issue fee plus a $300 publication fee. There may additionally be surcharges if the patent application is finished 100 pages or has a lot more than 20 claims. There exists typically some communication in between the patent office as well as the inventor (or perhaps the inventor’s attorney) during the review procedure of the application, and if the inventor’s responses are late, there could be even more surcharges.
Now that we’ve established that this Patent Office’s fees alone can be quite expensive, let’s talk about attorney fees. It might not be unreasonable to possess 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 acquire a patent application to the patent office. However, there are a few attorneys who charge lower fees – $2,000 to $4,000 total – for work making the process much more affordable.
Around this point you may wonder when it is all worth the cost. Consider this query: Will having a patent on this idea generate more revenue than what it can cost to have the patent? Or even, it may become more economical that you should just walk away from the whole thing. But for those who believe having the patent is definitely an investment and will also be worth it inside the long run, there are certain things you can do in order to minimize your costs.
Until you are patent savvy, you will still need a professional to make the patent application. A possible method to minimize costs is by using a patent agent as opposed to a patent attorney. Patent agents are non-attorneys that are qualified to prepare patent applications and routinely have lower rates. No matter whether you choose legal counsel or an agent to prepare the application, their costs is going to be worth the cost.
You should understand that not every patents are created equally. The worth of the patent is dependent upon the method by which it is actually written, particularly in the “claims” area of the patent. All too often, individuals file patents without the assistance of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have zero trouble getting around such weak patents, as well as the individual may lose huge amounts of money worth of revenue.
Just because you hire legal counsel doesn’t mean that you simply don’t have control over the expense. Well prepared Look These Up who communicate quickly and effectively with their attorneys may have the biggest savings. Usually do not approach an attorney till you have done anything else you can do. Before making any major investment you must do your research. Websites like uspto.gov, inventorbasics.com, and others ittgcu be considered a good starting point. Prepare figures, write a comprehensive description in the invention, and do a patent search (uspto.gov). If you begin a visit having an attorney, and that he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.