Are you scared of what it will cost you to acquire a patent? If you are Inventors Corner, you may be. Large corporations may be able to shell out lots of money without flinching, but when the money comes from one income it’s another story.
Just how much would it cost someone or a small business to obtain a patent? Let’s begin with the fees through the US Patent Office. To submit a basic patent application the fee is $500. If the patent is granted, there exists a $700 issue fee plus a $300 publication fee. There could also be surcharges when the patent application has ended 100 pages or has more than 20 claims. There exists typically some communication involving the patent office and also 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 a lot more surcharges.
Since we’ve established that this Patent Office’s fees alone can be quite expensive, let’s talk about attorney fees. It could not be unreasonable to have a patent attorney charge from $150 to $400 one hour for his or her services. Some companies may pay $12,000 to $14,000 in attorney fees to acquire 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 the process far more affordable.
At this time you could wonder when it is all worth the cost. Think about this query: Will owning Invent Help Technology on this idea generate more revenue than what it is going to cost to obtain the patent? Or even, it may be cheaper that you should just walk out of the whole thing. But for those who believe getting the patent is definitely an investment and are worth it in the end, there is something that you can do to minimize your costs.
Until you are patent savvy, you will still need a professional to make the patent application. A potential approach to minimize costs is by using a patent agent instead of a patent attorney. Patent agents are non-attorneys who definitely are qualified to prepare patent applications and normally have lower rates. Regardless of whether you choose legal counsel or an agent to get ready the application, their costs will likely be worth the cost.
It is essential to keep in mind that its not all patents are created equally. The value of Inventhelp George Foreman Commercials is determined by the method by which it is actually written, especially in the “claims” section of the patent. Very often, individuals file patents without the help of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have zero trouble ixcxxf around such weak patents, and the individual may lose vast amounts of money worth of revenue.
Because you hire an attorney doesn’t suggest that you don’t have control of the expenses. Prepared inventors who communicate effectively using their attorneys will have the largest savings. Usually do not approach an attorney till you have done anything else that can be done. Before making any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, yet others may well be a good place to begin. Prepare figures, write a comprehensive description in the invention, and perform a patent search (uspto.gov). If you begin a visit with the attorney, and then he/she begins asking you questions you don’t have answers for, rescheduling another visit might be necessary.