Are you fearful of what it will cost you to obtain a patent? In case you are an unbiased inventor, you might be. Large corporations may be able to shell out thousands of dollars without flinching, however when the amount of money comes from a single income it’s an alternative story.
Just how much would it cost Original Site to obtain a patent? Let’s start with the fees from the US Patent Office. To file a basic patent application the fee is $500. If the patent is granted, there exists a $700 issue fee along with a $300 publication fee. There may also be surcharges if the patent application is over 100 pages or has a lot more than 20 claims. There exists typically some communication involving the patent office and the inventor (or perhaps the inventor’s attorney) during the review procedure for the applying, and if the inventor’s responses are late, there could be even more surcharges.
Given that we’ve established the Patent Office’s fees alone can be quite expensive, let’s discuss attorney fees. It would not be unreasonable to possess a patent attorney charge from $150 to $400 an hour or so for their services. Some companies may pay $12,000 to $14,000 in attorney fees to acquire a patent application to the patent office. However, there are several attorneys who charge lower fees – $2,000 to $4,000 total – for work making the procedure a lot more affordable.
Around this point you may wonder should it be all worth the cost. Ask yourself this query: Will possessing a patent with this idea generate more revenue compared to what it can cost to have the patent? If not, it may become more economical for you to just walk out of the whole thing. But for people who believe obtaining the patent is surely an investment and will be worth the cost in the long run, there are some things you can do to minimize your costs.
Unless you are patent savvy, you may still want a professional to get ready the patent application. A possible approach to minimize costs is to apply a patent agent as opposed to a patent attorney. Patent agents are non-attorneys that are capable of prepare patent applications and normally have lower rates. Regardless of whether you decide on a lawyer or an agent to make the application, their costs is going to be worthwhile.
You should understand that its not all patents are produced equally. The value of a patent is dependent upon the manner in which it is actually 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 get a patent with unnecessary limitations. Competitors have no trouble getting around such weak patents, as well as the individual may lose vast amounts of money amount of revenue.
Just because you hire a lawyer doesn’t mean that you don’t have power over the expense. Well prepared I Thought About This who communicate effectively using their attorneys will have the greatest savings. Do not approach an attorney 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 become a good starting point. Prepare figures, write a detailed description of the invention, and do a patent search (uspto.gov). Should 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.