Are you afraid of what it will cost you to have a patent? If you are Inventhelp Corporate Headquarters, 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 company to obtain a patent? Let’s start with the fees from the US Patent Office. To file a basic patent application the charge is $500. When the patent is granted, there exists a $700 issue fee in addition to a $300 publication fee. There may additionally be surcharges in the event the patent application has ended 100 pages or has a lot more than 20 claims. There is certainly typically some communication between the patent office and 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.
Given that we’ve established that this Patent Office’s fees alone can be quite expensive, let’s speak about attorney fees. It might not really unreasonable to possess a patent attorney charge from $150 to $400 an hour or so 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 his or her work making the procedure a lot more affordable.
Around this point you may wonder should it be all worth it. Consider this query: Will possessing a patent on this idea generate more revenue compared to what it is going to cost to obtain the patent? Otherwise, it may be a little more economical that you should just walk from the whole thing. But for people who believe getting the How To Patent An Invention is an investment and are worth it in the long run, there are certain things you can do to minimize your costs.
Unless you are patent savvy, you are going to still need a professional to prepare the patent application. A likely method to minimize costs is to apply a patent agent as opposed to a patent attorney. Patent agents are non-attorneys who definitely are capable of prepare patent applications and typically have lower rates. Whether or not you select an attorney or perhaps an agent to make the application, their costs is going to be worthwhile.
It is important to keep in mind that not every patents are made equally. The worth of the patent depends on the method by which it is actually written, especially in the “claims” part of the How To Invent A Product. Much too often, individuals ogapcl patents without the assistance of a patent attorney or agent and get a patent with unnecessary limitations. Competitors do not have trouble getting around such weak patents, as well as the individual may lose vast amounts of money amount of revenue.
Just because you hire an attorney doesn’t mean that you simply don’t have power over the expenses. Well prepared inventors who communicate effectively with their attorneys may have the biggest savings. Tend not to approach an attorney till you have done everything else you can do. Before making any major investment you need to do your homework. Websites like uspto.gov, inventorbasics.com, yet others might become a good place to start. Prepare figures, write an in depth description from the invention, and conduct a patent search (uspto.gov). In the event you take up a visit having an attorney, and then he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.