Are you scared of what it will cost you to obtain a patent? If you are How To Patent An Idea, you might be. Large corporations may be able to shell out 1000s 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 a small company to get a patent? Let’s begin with the fees from the US Patent Office. To file a simple patent application the charge is $500. When the patent is granted, there is a $700 issue fee plus a $300 publication fee. There may additionally be surcharges if the patent application is finished 100 pages or has a lot more than 20 claims. There is certainly typically some communication in between the patent office and also the inventor (or perhaps the inventor’s attorney) through the review procedure of the applying, 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 rather expensive, let’s discuss attorney fees. It might not unreasonable to have a patent attorney charge from $150 to $400 an hour or so for his or her 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 some attorneys who charge lower fees – $2,000 to $4,000 total – for work making the procedure much more affordable.
Around this point you may wonder when it is all worthwhile. Consider this inquiry: Will owning a patent about this idea generate more revenue compared to what it will cost to obtain the patent? Otherwise, it may be a little more economical that you should just walk out of the whole thing. But for people who believe having the New Invention is surely an investment and will be worth it within the long run, there are some things you can do today to minimize your costs.
Until you are patent savvy, you may still want a professional to get ready the patent application. A likely method to minimize costs is to apply a patent agent rather than a patent attorney. Patent agents are non-attorneys that are capable of prepare patent applications and routinely have lower rates. Regardless of whether you choose a lawyer or perhaps an agent to get ready the application, their costs is going to be worth the cost.
It is essential to keep in mind that its not all patents are made equally. The worth of the patent is determined by the manner in which it is actually written, particularly in the “claims” part of the Inventhelp New Inventions. Very often, individuals ogapcl patents without the help of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors do not have trouble getting around such weak patents, and also the individual may lose millions of dollars worth of revenue.
Just since you hire an attorney doesn’t mean which you don’t have control over the costs. Well prepared inventors who communicate quickly using their attorneys may have the biggest savings. Do not approach a lawyer till you have done everything you can do. Before creating any major investment you need to do the research. Websites like uspto.gov, inventorbasics.com, and others might be a good place to begin. Prepare figures, write an in depth description from the invention, and perform a patent search (uspto.gov). Should you begin a visit with the attorney, and then he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.