Are you afraid of what it can cost you to have a patent? If you are a completely independent inventor, you may be. Large corporations may be able to shell out thousands of dollars without flinching, but when the money comes from just one income it’s a different story.
Just how much would it cost someone or a small company to acquire a patent? Let’s get started with the fees from your US Patent Office. To submit a simple patent application the fee is $500. Once the Inventhelp New Inventions is granted, there is a $700 issue fee in addition to a $300 publication fee. There may also be surcharges in the event 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 and also the inventor (or even the inventor’s attorney) during the review procedure of the application, and if the inventor’s responses are late, there could be a lot more surcharges.
Given that we’ve established that the Patent Office’s fees alone could be very expensive, let’s talk about attorney fees. It would not really unreasonable to possess a patent attorney charge from $150 to $400 one hour for his or her 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 some attorneys who charge lower fees – $2,000 to $4,000 total – for their work making the process far more affordable.
At this point you may wonder if it is all worth it. Ask yourself this inquiry: Will having a patent on this idea generate more revenue compared to what it will cost to get the patent? Otherwise, it may be cheaper so that you can just walk out of the whole thing. But for those who believe obtaining the patent is surely an investment and are worthwhile in the end, there are certain things you can do to reduce your costs.
Unless you are patent savvy, you will still desire a professional to prepare the How Do I Patent A Product. A potential method to minimize costs is by using a patent agent instead of a patent attorney. Patent agents are non-attorneys that are capable to prepare patent applications and routinely have lower rates. Regardless of whether you choose an attorney or perhaps an agent to prepare the application, their costs will likely be worthwhile.
It is important to remember that not every patents are produced equally. The value of the patent depends on the manner in which it is written, particularly in the “claims” part of the patent. Very often, individuals file patents without the help of a patent attorney or agent and end up getting Mom Inventors with unnecessary limitations. Competitors have umstjl trouble getting around such weak patents, and the individual may lose vast amounts of money worth of revenue.
Because you hire an attorney doesn’t suggest that you don’t have control over the expense. Prepared inventors who communicate quickly and effectively with their attorneys could have the largest savings. Usually do not approach an attorney till you have done everything that you can do. Before you make any major investment you must do the research. Websites like uspto.gov, inventorbasics.com, as well as others can be quite a good place to start. Prepare figures, write a comprehensive description of the invention, and perform a patent search (uspto.gov). In the event you start a visit with an attorney, and he/she begins asking questions you don’t have answers for, rescheduling another visit could be necessary.