Are you afraid of what it will cost you to have a patent? If you are How Do I Patent A Product, you might be. Large corporations may be able to shell out lots of money without flinching, but when the money comes from a single income it’s a different story.
Just how much would it cost someone or your small business to acquire a patent? Let’s get started with the fees through the US Patent Office. To file a basic patent application the charge is $500. Once the patent is granted, there is a $700 issue fee plus a $300 publication fee. There may even be surcharges in the event the patent application is finished 100 pages or has greater than 20 claims. There is certainly typically some communication in between the patent office and also the inventor (or perhaps the inventor’s attorney) through the review procedure for the application, and in case the inventor’s responses are late, there could be even more surcharges.
Since we’ve established the Patent Office’s fees alone can be quite expensive, let’s speak about attorney fees. It would not really 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 acquire a patent application for the patent office. However, there are a few attorneys who charge lower fees – $2,000 to $4,000 total – for his or her work making this process much more affordable.
At this point you may wonder should it be all worth the cost. Consider this query: Will possessing a patent about this idea generate more revenue compared to what it is going to cost to obtain the patent? Otherwise, it may become more economical that you should just walk out of the whole thing. But for those who believe having the Inventhelp Products is an investment and are worth it inside the long run, there is something you can do to minimize your costs.
Except if you are patent savvy, you may still want a professional to get ready the patent application. A likely approach 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 normally have lower rates. Whether or not you choose a lawyer or even an agent to get ready your application, their costs is going to be worth the cost.
You should remember that its not all patents are made equally. The value of the patent depends on the manner in which it really is written, specifically in the “claims” area of the Invention Websites. Much too often, individuals ogapcl patents without the help 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 worth of revenue.
Just since you hire a lawyer doesn’t mean which you don’t have control over the costs. Well prepared inventors who communicate quickly and effectively with their attorneys could have the biggest savings. Tend not to approach legal counsel until you have done everything you can do. Before creating any major investment you must do the research. Websites like uspto.gov, inventorbasics.com, and others might be a good place to start. Prepare figures, write a detailed description from the invention, and conduct a patent search (uspto.gov). Should you take up a visit having an attorney, and that he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.