Are you afraid of what it will cost you to acquire a patent? If you are Inventhelp Tech, you might be. Large corporations may be able to shell out thousands of dollars without flinching, but when the amount of money comes from just one income it’s a different story.
Just how much would it cost a person or a small business to obtain a patent? Let’s start with the fees from your US Patent Office. To file a fundamental 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 if the patent application is finished 100 pages or has greater than 20 claims. There is certainly typically some communication involving the patent office as well as the inventor (or perhaps the inventor’s attorney) throughout the review procedure for the applying, and in case the inventor’s responses are late, there might be much more surcharges.
Now that we’ve established that this Patent Office’s fees alone can be quite expensive, let’s discuss attorney fees. It might not be unreasonable to possess a patent attorney charge from $150 to $400 an hour for services. Some companies may pay $12,000 to $14,000 in attorney fees to get a patent application towards the patent office. However, there are a few attorneys who charge lower fees – $2,000 to $4,000 total – for work making this process a lot more affordable.
At this point you might wonder should it be all worth it. Think about this inquiry: Will owning Patent Idea with this idea generate more revenue than what it is going to cost to get the patent? Or even, it might 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 are worth it over time, there is something you can do to reduce your costs.
Until you are patent savvy, you will still want a professional to make the patent application. A possible approach to minimize costs is to use a patent agent rather than a patent attorney. Patent agents are non-attorneys that are capable to prepare patent applications and normally have lower rates. Whether or not you select a lawyer or an agent to make your application, their costs will likely be worth the cost.
It is important to keep in mind that its not all patents are made equally. The worth of Inventhelp Success is determined by the way in which it is written, specifically in the “claims” area of the patent. All too often, individuals file patents without the assistance of a patent attorney or agent and get a patent with unnecessary limitations. Competitors have no trouble ixcxxf around such weak patents, as well as the individual may lose millions of dollars amount of revenue.
Simply because you hire an attorney doesn’t suggest that you don’t have power over the costs. Well prepared inventors who communicate quickly using their attorneys may have the largest savings. Tend not to approach a lawyer till you have done everything that you can do. Before making any major investment you must do your research. Websites like uspto.gov, inventorbasics.com, and others may well be a good starting point. Prepare figures, write a detailed description from the invention, and perform a patent search (uspto.gov). If you take up a visit with an attorney, and that he/she begins asking you questions you don’t have answers for, rescheduling another visit might be necessary.