Are you scared of what it will cost you to have a patent? If you are Patent Helper, you could be. Large corporations may be able to shell out lots of money without flinching, however when the money comes from a single income it’s a different story.
So how much would it cost a person or a small company to obtain a patent? Let’s get started with the fees from your US Patent Office. To submit a simple patent application the charge is $500. When the patent is granted, there exists a $700 issue fee plus a $300 publication fee. There could also be surcharges in the event the patent application is over 100 pages or has more than 20 claims. There exists typically some communication involving the patent office and also the inventor (or even the inventor’s attorney) through the review process of the applying, and in case the inventor’s responses are late, there could be much more surcharges.
Since we’ve established the Patent Office’s fees alone can be very expensive, let’s discuss attorney fees. It might not really unreasonable to have 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 acquire a patent application for the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for his or her work making the process much more affordable.
At this point you could wonder if it is all worth the cost. Ask yourself this inquiry: Will owning Idea Help on this idea generate more revenue than it will cost to have the patent? Otherwise, it might be more economical so that you can just walk from the whole thing. But for people who believe having the patent is an investment and will be worthwhile in the long run, there is something that you can do to reduce your costs.
Unless you are patent savvy, you are going to still want a professional to prepare the patent application. A likely method to minimize costs is by using a patent agent instead of a patent attorney. Patent agents are non-attorneys that are capable of prepare patent applications and routinely have lower rates. No matter whether you decide on an attorney or perhaps an agent to prepare the application, their costs will be worthwhile.
It is important to keep in mind that not all patents are produced equally. The value of Product Ideas is determined by the way in which it is written, particularly in the “claims” section of the patent. Much too often, individuals file patents without the help 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 millions of dollars worth of revenue.
Simply because you hire legal counsel doesn’t suggest that you don’t have power over the expenses. Prepared inventors who communicate effectively with their attorneys may have the largest savings. Usually do not approach a lawyer till you have done everything that can be done. Prior to making any major investment you have to do the research. Websites like uspto.gov, inventorbasics.com, yet others might be a good place to begin. Prepare figures, write a detailed description from the invention, and conduct a patent search (uspto.gov). Should you start a visit with the attorney, and he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.