Are you afraid of what it can cost you to obtain a patent? Should you be an unbiased inventor, you may be. Large corporations may be able to shell out lots of money without flinching, but when the money comes from a single income it’s a different story.
So, just how much would it cost someone or your small business to obtain a patent? Let’s begin with the fees through the US Patent Office. To submit a fundamental patent application the fee is $500. If the Inventhelp Office Locations is granted, you will find a $700 issue fee in addition to a $300 publication fee. There could also be surcharges in the event the patent application is finished 100 pages or has greater than 20 claims. There exists typically some communication involving the patent office as well as the inventor (or perhaps the inventor’s attorney) throughout the review procedure of the application form, and in case the inventor’s responses are late, there might be a lot more surcharges.
Now that we’ve established the Patent Office’s fees alone can be quite expensive, let’s talk about attorney fees. It might not unreasonable to have 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 obtain 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 far more affordable.
At this stage you could wonder when it is all worth the cost. Think about this question: Will owning a patent with this idea generate more revenue than it will cost to get the patent? Otherwise, it could be more economical that you should just walk from the whole thing. But for those who believe obtaining the patent is definitely an investment and will also be worthwhile in the long run, there is something that you can do to reduce your costs.
Unless you are patent savvy, you may still need a professional to make the Idea Patent. A likely way to minimize costs is by using a patent agent as opposed to a patent attorney. Patent agents are non-attorneys that are capable of prepare patent applications and typically have lower rates. No matter whether you select an attorney or an agent to get ready the application, their costs will likely be worthwhile.
You should understand that not all patents are made equally. The worth of any 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 assistance of a patent attorney or agent and end up with How Do You Patent An Idea with unnecessary limitations. Competitors have umstjl trouble getting around such weak patents, and also the individual may lose huge amounts of money worth of revenue.
Because you hire an attorney doesn’t suggest that you don’t have control of the expenses. Ready inventors who communicate quickly and effectively with their attorneys could have the greatest savings. Tend not to approach an attorney until you have done anything else you can do. Before you make any major investment you have to do the 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 that he/she begins asking you questions you don’t have answers for, rescheduling another visit could be necessary.