Are you scared 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 lots of money without flinching, however when the money comes from a single income it’s a different story.
So, just how much would it cost a person or a small company to obtain a patent? Let’s get started with the fees from your US Patent Office. To file a basic patent application the fee is $500. Once the patent is granted, there exists a $700 issue fee along with a $300 publication fee. There may additionally be surcharges when the patent application has ended 100 pages or has greater than 20 claims. There is certainly typically some communication in between the patent office as well as the inventor (or even the inventor’s attorney) throughout the review procedure for the application form, and in case the inventor’s responses are late, there might be even more surcharges.
Now that we’ve established that this Patent Office’s fees alone can be rather expensive, let’s speak about attorney fees. It would not be unreasonable to possess a patent attorney charge from $150 to $400 an hour or so for services. Some companies may pay $12,000 to $14,000 in attorney fees to obtain 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 this process much more affordable.
At this particular point you may wonder if it is all worth it. Think about this inquiry: Will having a patent about this idea generate more revenue compared to what it will cost to have the patent? If not, it may be a little more economical so that you can just walk away from the whole thing. But for people who believe having the Inventhelp Products is an investment and will also be worthwhile in the long run, there is something you can do today to minimize your costs.
Except if you are patent savvy, you may still need a professional to make the patent application. A potential way to minimize costs is to use a patent agent rather than a patent attorney. Patent agents are non-attorneys who are capable to prepare patent applications and normally have lower rates. Regardless of whether you choose an attorney or even an agent to make the application, their costs will be worthwhile.
You should remember that its not all patents are produced equally. The value of any patent is determined by the way in which it really is written, especially in the “claims” area of the Prototype Services Inventhelp. Very often, individuals ogapcl patents without the assistance of a patent attorney or agent and end up with 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 effectively using their attorneys could have the greatest savings. Do not approach a lawyer till you have done everything you can do. Before creating any major investment you must do your homework. Websites like uspto.gov, inventorbasics.com, as well as others might be a good place to begin. Prepare figures, write an in depth description from the invention, and do a patent search (uspto.gov). Should you take up a visit having an attorney, and then he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.