Are you scared of what it can cost you to obtain a patent? Should you be an independent inventor, you might be. Large corporations may be able to spend 1000s of dollars without flinching, but when the amount of money comes from just one income it’s a different story.
Just how much would it cost an individual or your small business to acquire a patent? Let’s get started with the fees from the US Patent Office. To file a basic patent application the charge is $500. When the File A Patent is granted, there is a $700 issue fee plus a $300 publication fee. There may also be surcharges when the patent application is over 100 pages or has more than 20 claims. There is typically some communication between the patent office as well as the inventor (or even the inventor’s attorney) throughout the review process of the application form, and in case the inventor’s responses are late, there could be even more surcharges.
Now that we’ve established that the Patent Office’s fees alone can be quite expensive, let’s speak about attorney fees. It might not really unreasonable to possess a patent attorney charge from $150 to $400 one hour for services. Some companies may pay $12,000 to $14,000 in attorney fees to acquire a patent application for the patent office. However, there are a few attorneys who charge lower fees – $2,000 to $4,000 total – for their work making the procedure much more affordable.
At this point you could wonder when it is all worth the cost. Ask yourself this inquiry: Will possessing a patent on this idea generate more revenue than what it will cost to have the patent? If not, it may be less expensive so that you can just walk from the whole thing. But for those who believe obtaining the patent is definitely an investment and will also be worthwhile over time, there are certain things you can do to reduce your costs.
Unless you are patent savvy, you may still want a professional to prepare the Inventhelp Inventions Store. A possible method to minimize costs is to use a patent agent rather than a patent attorney. Patent agents are non-attorneys who definitely are qualified to prepare patent applications and typically have lower rates. Regardless of whether you choose an attorney or an agent to prepare the application, their costs is going to be worthwhile.
It is important to understand that its not all patents are produced equally. The worth of the patent is determined by the method by which it is written, specifically in the “claims” area of the patent. Very often, individuals file patents without the help of a patent attorney or agent and end up having How To Invent A Product with unnecessary limitations. Competitors have umstjl trouble getting around such weak patents, and also the individual may lose millions of dollars worth of revenue.
Just because you hire an attorney doesn’t mean that you don’t have control over the expenses. Well prepared inventors who communicate quickly and effectively using their attorneys may have the greatest savings. Usually do not approach an attorney till you have done everything else that you can do. Before you make any major investment you need to do your research. Websites like uspto.gov, inventorbasics.com, and others may well be a good starting point. Prepare figures, write a detailed description in the invention, and do a patent search (uspto.gov). If you begin a visit with an attorney, and he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.