Are you fearful of what it can cost you to have a patent? In case you are a completely independent inventor, you might be. Large corporations may be able to spend thousands of dollars without flinching, but when the amount of money comes from a single income it’s a different story.
Just how much would it cost a person or a small company to obtain a patent? Let’s begin with the fees from your US Patent Office. To submit a simple patent application the charge is $500. If the How To Get An Idea Patented is granted, there is a $700 issue fee plus a $300 publication fee. There could also be surcharges if the patent application has ended 100 pages or has greater than 20 claims. There exists typically some communication between the patent office and also the inventor (or perhaps the inventor’s attorney) through the review procedure for 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 very expensive, let’s speak about attorney fees. It would not be unreasonable to have 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 acquire a patent application for the patent office. However, there are several attorneys who charge lower fees – $2,000 to $4,000 total – for his or her work making this process a lot more affordable.
At this time you might wonder when it is all worthwhile. Consider this inquiry: Will owning a patent on this idea generate more revenue than what it will cost to have the patent? Otherwise, it could be cheaper so that you can just walk out of the whole thing. But for those who believe getting the patent is definitely an investment and will also be worth it over time, there is something that you can do to reduce your costs.
Except if you are patent savvy, you are going to still want a professional to prepare the Find A Patent Attorney. A potential method to minimize costs is to apply a patent agent instead of a patent attorney. Patent agents are non-attorneys who are capable of prepare patent applications and routinely have lower rates. No matter whether you decide on legal counsel or even an agent to get ready the application, their costs will be worthwhile.
It is essential to understand that not every patents are created equally. The value of any patent is dependent upon the way in which it really is written, especially in the “claims” section of the patent. Much too often, individuals file patents without the help of a patent attorney or agent and end up with Inventhelp Caveman with unnecessary limitations. Competitors have umstjl trouble getting around such weak patents, and also the individual may lose millions of dollars amount of revenue.
Simply because you hire an attorney doesn’t suggest that you don’t have control of the expense. Prepared inventors who communicate quickly and effectively using their attorneys may have the largest savings. Do not approach an attorney until you have done everything that can be done. Before you make any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, yet others can be quite a good place to start. Prepare figures, write a comprehensive description from the invention, and perform a patent search (uspto.gov). Should you start a visit having an attorney, and then he/she begins asking you questions you don’t have answers for, rescheduling another visit could be necessary.