Are you fearful of what it will cost you to acquire a patent? Should you be Invent Help Tech, you could be. Large corporations may be able to shell out lots of money without flinching, however, when the cash comes from just one income it’s an alternative story.
So, just how much would it cost an individual or a small company to obtain a patent? Let’s start with the fees from your US Patent Office. To submit a fundamental patent application the fee is $500. If the patent is granted, you will find a $700 issue fee along with a $300 publication fee. There may also be surcharges when the patent application is finished 100 pages or has a lot more than 20 claims. There is typically some communication in between the patent office as well as the inventor (or even the inventor’s attorney) during the review procedure for the application form, and if the inventor’s responses are late, there could be much more surcharges.
Since we’ve established that the Patent Office’s fees alone could be very expensive, let’s talk about attorney fees. It might not 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 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 process a lot more affordable.
At this point you might wonder should it be all worth the cost. Ask yourself this inquiry: Will owning Patent A Product with this idea generate more revenue than it will cost to obtain the patent? If not, it might be more economical so that you can just walk out of the whole thing. But for those who believe having the patent is surely an investment and will also be worth it over time, there are some things you can do to lower your costs.
Until you are patent savvy, you are going to still desire a professional to prepare the patent application. A likely way to minimize costs is to apply a patent agent rather than a patent attorney. Patent agents are non-attorneys that are capable of prepare patent applications and routinely have lower rates. No matter whether you choose a lawyer or perhaps an agent to make the application, their costs will likely be worth the cost.
It is important to remember that its not all patents are made equally. The worth of Invention Help is dependent upon the way in which it is written, especially in the “claims” area of the patent. Very often, individuals file patents without the assistance of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have no trouble ixcxxf around such weak patents, and also the individual may lose vast amounts of money worth of revenue.
Just because you hire a lawyer doesn’t mean that you don’t have control of the costs. Ready inventors who communicate quickly and effectively with their attorneys may have the greatest savings. Usually do not approach a lawyer until you have done anything else that you can do. Prior to making any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, as well as others can be quite a good place to begin. Prepare figures, write a comprehensive description in the invention, and do a patent search (uspto.gov). If you take up a visit having an attorney, and he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.