Are you scared of what it will cost you to obtain a patent? If you are Product Patent, 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 how much would it cost someone or a small business to get a patent? Let’s begin with the fees through the US Patent Office. To file a basic patent application the charge is $500. Once the patent is granted, you will find a $700 issue fee along with a $300 publication fee. There may additionally be surcharges in the event the patent application is over 100 pages or has more than 20 claims. There is certainly typically some communication in between the patent office and also the inventor (or even the inventor’s attorney) throughout the review procedure for the applying, and if the inventor’s responses are late, there could be even more surcharges.
Given that we’ve established that this Patent Office’s fees alone can be quite expensive, let’s talk about attorney fees. It might not really unreasonable to have 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 to the patent office. However, there are a few attorneys who charge lower fees – $2,000 to $4,000 total – for their work making the procedure a lot more affordable.
Around this point you may wonder if it is all worthwhile. Consider this query: Will having a patent on this idea generate more revenue than it can cost to have the patent? If not, it may be more economical so that you can just walk from the whole thing. But for those who believe obtaining the How To Submit A Patent is definitely an investment and will be worth the cost within the long run, there are some things you can do in order to minimize your costs.
Except if you are patent savvy, you will still want a professional to get ready the patent application. A possible approach to minimize costs is to use a patent agent as opposed to a patent attorney. Patent agents are non-attorneys that are qualified to prepare patent applications and routinely have lower rates. Regardless of whether you decide on legal counsel or even an agent to prepare the application, their costs is going to be worth the cost.
You should keep in mind that not all patents are made equally. The value of any patent depends on the method by which it is actually written, particularly in the “claims” section of the Inventhelp Products. All too often, individuals ogapcl patents without the assistance of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have no trouble getting around such weak patents, and the individual may lose millions of dollars worth of revenue.
Just because you hire legal counsel doesn’t mean that you simply don’t have control of the expense. Well prepared inventors who communicate quickly and effectively using their attorneys may have the largest savings. Usually do not approach an attorney until you have done anything else you can do. Before creating any major investment you have to do your homework. Websites like uspto.gov, inventorbasics.com, and others might be considered a good starting point. Prepare figures, write a comprehensive description from the invention, and do a patent search (uspto.gov). If you start a visit having an attorney, and that he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.