Are you scared of what it will cost you to have a patent? If you are an independent inventor, you could be. Large corporations may be able to spend thousands of dollars without flinching, but when the cash comes from just one income it’s a different story.
So how much would it cost an individual or your small business to get a patent? Let’s begin with the fees from the US Patent Office. To submit a fundamental patent application the charge is $500. Once the Invention Ideas Website is granted, there is a $700 issue fee along with a $300 publication fee. There may also be surcharges if the patent application is finished 100 pages or has a lot more than 20 claims. There is certainly typically some communication between the patent office and also the inventor (or perhaps the inventor’s attorney) throughout the review procedure for the application, and when the inventor’s responses are late, there might be much more surcharges.
Now that we’ve established that the Patent Office’s fees alone could be very expensive, let’s discuss attorney fees. It would not really unreasonable to get a patent attorney charge from $150 to $400 an hour for their services. Some companies may pay $12,000 to $14,000 in attorney fees to get a patent application to the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for their work making this process a lot more affordable.
At this point you may wonder should it be all worth it. Consider this inquiry: Will owning a patent on this idea generate more revenue compared to what it will cost to have the patent? Or even, it may be more economical so that you can just walk out of the whole thing. But for those who believe obtaining the patent is definitely an investment and will be worth the cost over time, there is something that can be done to reduce your costs.
Except if you are patent savvy, you will still need a professional to get ready the Inventhelp New Store Products. A likely way to minimize costs is to use a patent agent instead of a patent attorney. Patent agents are non-attorneys who definitely are capable of prepare patent applications and routinely have lower rates. No matter whether you select an attorney or even an agent to get ready the application, their costs is going to be worth the cost.
You should remember that its not all patents are created equally. The value of a patent is dependent upon the manner in which it really is written, especially in the “claims” area of the patent. All too often, individuals file patents without the help of a patent attorney or agent and end up with Invention Companies with unnecessary limitations. Competitors have umstjl trouble getting around such weak patents, as well as the individual may lose vast amounts of money worth of revenue.
Because you hire legal counsel doesn’t mean that you don’t have power over the expenses. Ready inventors who communicate quickly and effectively making use of their attorneys could have the largest savings. Usually do not approach legal counsel until you have done anything else that you can do. Prior to making any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, and others may well be a good place to start. Prepare figures, write an in depth description of the invention, and do a patent search (uspto.gov). Should you begin a visit with an attorney, and he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.