Are you afraid of what it will cost you to obtain a patent? Should you be Inventhelp New Inventions, you may be. Large corporations may be able to spend thousands of dollars without flinching, however when the cash comes from just one income it’s another story.
So how much would it cost an individual or a small company to acquire a patent? Let’s begin with the fees from your US Patent Office. To submit a simple patent application the fee is $500. Once the patent is granted, there is a $700 issue fee plus a $300 publication fee. There may also be surcharges when the patent application is over 100 pages or has greater than 20 claims. There is certainly typically some communication involving the patent office and the inventor (or the inventor’s attorney) through the review process of the applying, and in case the inventor’s responses are late, there may be even more surcharges.
Now that we’ve established that the Patent Office’s fees alone could be very expensive, let’s discuss attorney fees. It might not really unreasonable to get a patent attorney charge from $150 to $400 an hour for his or her services. Some companies may pay $12,000 to $14,000 in attorney fees to get a patent application for the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for his or her work making the process far more affordable.
At this stage you might wonder should it be all worth it. Think about this query: Will owning Patent Help Companies with this idea generate more revenue than what it is going to cost to obtain the patent? Or even, it may be less expensive that you should just walk out of the whole thing. But for people who believe having the patent is an investment and will also be worthwhile in the end, there are some things you can do to minimize your costs.
Until you are patent savvy, you will still want a professional to get ready the patent application. A likely way to minimize costs is by using a patent agent as opposed to a patent attorney. Patent agents are non-attorneys who definitely are capable of prepare patent applications and normally have lower rates. Regardless of whether you choose a lawyer or an agent to get ready the application, their costs will be worth it.
It is essential to understand that its not all patents are created equally. The value of New Product Ideas depends on the method by which it really is written, specifically in the “claims” section of the patent. Very often, individuals file patents without the help of a patent attorney or agent and get a patent with unnecessary limitations. Competitors have zero trouble ixcxxf around such weak patents, and also the individual may lose huge amounts of money amount of revenue.
Because you hire legal counsel doesn’t suggest that you don’t have control of the costs. Prepared inventors who communicate quickly using their attorneys will have the biggest savings. Do not approach an attorney until you have done everything else that can be done. Before making any major investment you need to do your research. Websites like uspto.gov, inventorbasics.com, and others might be a good place to begin. Prepare figures, write an in depth description in the invention, and conduct 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.