Are you afraid of what it can cost you to acquire 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, but when the cash comes from a single income it’s an alternative story.
Just how much would it cost Check This Out to get a patent? Let’s get started with the fees from your US Patent Office. To file a basic patent application the fee is $500. When the patent is granted, there is a $700 issue fee along with a $300 publication fee. There may even be surcharges in the event the patent application has ended 100 pages or has a lot more than 20 claims. There is typically some communication in between the patent office and the inventor (or perhaps the inventor’s attorney) through the review procedure for the application form, and in case the inventor’s responses are late, there may be even more surcharges.
Given that we’ve established the Patent Office’s fees alone can be quite expensive, let’s talk about attorney fees. It might not really unreasonable to get 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 obtain a patent application for the patent office. However, there are several attorneys who charge lower fees – $2,000 to $4,000 total – for work making the process much more affordable.
At this point you may wonder if it is all worth it. Consider this query: Will possessing a patent on this idea generate more revenue than what it can cost to get the patent? If not, it may be more economical that you should just walk out of the whole thing. But for those of you who believe having the patent is surely an investment and are worth it in the long run, there are certain things you can do today to minimize your costs.
Until you are patent savvy, you will still need a professional to get ready the patent application. A possible way to minimize costs is to apply a patent agent rather than a patent attorney. Patent agents are non-attorneys who are qualified to prepare patent applications and typically have lower rates. No matter whether you decide on an attorney or an agent to prepare your application, their costs will likely be worth the cost.
It is essential to remember that its not all patents are created equally. The worth of the patent depends on the method by which it really is written, specifically in the “claims” part of the patent. All too often, individuals file patents without the assistance 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 worth of revenue.
Just because you hire legal counsel doesn’t mean that you don’t have control of the costs. Well prepared Click To Find Out More who communicate effectively using their attorneys may have the largest savings. Tend not to approach legal counsel till you have done anything else you can do. Before making any major investment you have to do your research. Websites like uspto.gov, inventorbasics.com, yet others ittgcu be a good starting point. Prepare figures, write an in depth description of the invention, and conduct a patent search (uspto.gov). In the event you start a visit with an attorney, and then he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.