Are you afraid of what it will cost you to have a patent? In case you are a completely independent inventor, you might be. Large corporations may be able to shell out lots of money without flinching, however, when the cash comes from a single income it’s another story.
Just how much would it cost This Website to get a patent? Let’s begin with the fees from the US Patent Office. To file a simple patent application the fee is $500. Once the patent is granted, you will find a $700 issue fee in addition to a $300 publication fee. There may even be surcharges if the patent application has ended 100 pages or has more than 20 claims. There is certainly typically some communication between the patent office as well as the inventor (or even the inventor’s attorney) during the review procedure of the application, and when the inventor’s responses are late, there could be even more surcharges.
Now that we’ve established the Patent Office’s fees alone can be quite expensive, let’s speak about attorney fees. It would not unreasonable to possess a patent attorney charge from $150 to $400 one hour for services. Some companies may pay $12,000 to $14,000 in attorney fees to acquire a patent application towards the patent office. However, there are several attorneys who charge lower fees – $2,000 to $4,000 total – for work making the process a lot more affordable.
At this particular point you may wonder if it is all worthwhile. Ask yourself this question: Will possessing a patent about this idea generate more revenue than it is going to cost to obtain the patent? If not, it may be a little more economical for you to just walk from the whole thing. But for those who believe obtaining the patent is surely an investment and are worthwhile inside the long run, there is something you can do to minimize your costs.
Until you are patent savvy, you will still desire a professional to prepare the patent application. A likely method to minimize costs is to use a patent agent rather than a patent attorney. Patent agents are non-attorneys who definitely are capable of prepare patent applications and typically have lower rates. No matter whether you select an attorney or an agent to prepare your application, their costs will be worth it.
It is essential to remember that not all patents are produced equally. The value of the patent depends on the way in which it is actually written, particularly in the “claims” area 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 zero trouble getting around such weak patents, and the individual may lose millions of dollars worth of revenue.
Just because you hire an attorney doesn’t mean that you don’t have power over the expenses. Well prepared Click Here For More Info who communicate quickly using their attorneys could have the largest savings. Usually do not approach legal counsel till you have done anything else you can do. Before making any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, and others ittgcu become a good place to start. Prepare figures, write a comprehensive description in the invention, and do a patent search (uspto.gov). In the event you take up a visit with an attorney, and that he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.