Are you afraid of what it will cost you to acquire a patent? If you are Invention Ideas, you might be. Large corporations may be able to shell out thousands of dollars without flinching, but when the money comes from a single income it’s a different story.
Just how much would it cost an individual or your small business to obtain a patent? Let’s get started with the fees from your US Patent Office. To file a basic patent application the charge is $500. Once the patent is granted, there is a $700 issue fee plus 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 certainly typically some communication between the patent office and also the inventor (or perhaps the inventor’s attorney) during the review procedure of the application form, and when the inventor’s responses are late, there may be even more surcharges.
Now that we’ve established that this Patent Office’s fees alone can be rather expensive, let’s discuss attorney fees. It could not be unreasonable to possess a patent attorney charge from $150 to $400 an hour for his or her 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 some attorneys who charge lower fees – $2,000 to $4,000 total – for their work making the procedure far more affordable.
Around this point you may wonder when it is all worthwhile. Ask yourself this query: Will owning a patent with this idea generate more revenue than it will cost to get the patent? Or even, it may be more economical for you to just walk from the whole thing. But for people who believe getting the Inventhelp Invention Prototype is surely an investment and are worth the cost in the long run, there are some things you can do today to minimize your costs.
Unless you are patent savvy, you are going to still need a professional to get ready the patent application. A likely method to minimize costs is to use a patent agent as opposed to a patent attorney. Patent agents are non-attorneys that are qualified to prepare patent applications and typically have lower rates. Whether or not you choose an attorney or an agent to get ready your application, their costs will be worthwhile.
You should keep in mind that its not all patents are made equally. The worth of any patent is determined by the way in which it really is written, particularly in the “claims” part of the Inventhelp Idea. Very often, individuals ogapcl patents without the help of a patent attorney or agent and get a patent with unnecessary limitations. Competitors have zero trouble getting around such weak patents, as well as the individual may lose vast amounts of money amount of revenue.
Just since you hire an attorney doesn’t mean that you don’t have control of the expenses. Well prepared inventors who communicate quickly making use of their attorneys may have the largest savings. Tend not to approach a lawyer until you have done everything else you can do. Before making any major investment you have to do your homework. 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 do a patent search (uspto.gov). In the event you take up a visit with the attorney, and he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.