Are you scared of what it can cost you to obtain a patent? Should you be a completely independent inventor, you may be. Large corporations may be able to spend thousands 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 a person or a small business to obtain a patent? Let’s get started with the fees from your US Patent Office. To submit a basic patent application the fee is $500. Once the How Do I Get A Patent is granted, there exists a $700 issue fee in addition to a $300 publication fee. There could also be surcharges if the patent application is over 100 pages or has a lot more than 20 claims. There is typically some communication between the patent office and the inventor (or perhaps the inventor’s attorney) through the review procedure for the application form, and if the inventor’s responses are late, there might be much more surcharges.
Given that we’ve established that the Patent Office’s fees alone can be very expensive, let’s speak about attorney fees. It might not 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 a few attorneys who charge lower fees – $2,000 to $4,000 total – for their work making this process a lot more affordable.
At this stage you could wonder should it be all worth it. Ask yourself this inquiry: Will having a patent on this idea generate more revenue compared to what it can cost to obtain the patent? Or even, it may be less expensive for you to just walk from the whole thing. But for those of you who believe obtaining the patent is an investment and are worthwhile in the end, there are some things that you can do to minimize your costs.
Until you are patent savvy, you will still desire a professional to get ready the Inventhelp Office. A possible method to minimize costs is to apply a patent agent instead of a patent attorney. Patent agents are non-attorneys who are capable to prepare patent applications and typically have lower rates. Whether or not you select an attorney or an agent to get ready your application, their costs will be worth the cost.
You should remember that not every patents are produced equally. The value of the patent depends on the manner in which it really is written, especially in the “claims” section of the patent. Very often, individuals file patents without the help of a patent attorney or agent and end up having How To Patent A Product with unnecessary limitations. Competitors have umstjl trouble getting around such weak patents, as well as the individual may lose huge amounts of money worth of revenue.
Because you hire an attorney doesn’t mean that you don’t have control over the costs. Well prepared inventors who communicate quickly using their attorneys may have the largest savings. Do not approach legal counsel till you have done everything else that you can do. Before making any major investment you must do the research. Websites like uspto.gov, inventorbasics.com, and others might be a good starting point. Prepare figures, write an in depth description from the invention, and conduct a patent search (uspto.gov). In the event you begin a visit having an attorney, and he/she begins asking you questions you don’t have answers for, rescheduling another visit could be necessary.