Are you scared of what it will cost you to obtain a patent? Should you be Inventhelp Stories, you could be. Large corporations may be able to spend lots of money without flinching, however, when the amount of money comes from one income it’s a different story.
So how much would it cost a person or a small company to acquire a patent? Let’s start with the fees through the US Patent Office. To submit a simple patent application the charge is $500. When the patent is granted, you will find a $700 issue fee along with a $300 publication fee. There may also be surcharges if the patent application has ended 100 pages or has more than 20 claims. There is typically some communication in between the patent office and also the inventor (or even the inventor’s attorney) through the review procedure for the application form, and when the inventor’s responses are late, there could be much more surcharges.
Now that we’ve established that the Patent Office’s fees alone can be quite expensive, let’s speak about attorney fees. It would not 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 obtain a patent application towards the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for work making the process much more affordable.
At this stage you might wonder if it is all worth the cost. Ask yourself this question: Will owning Inventhelp Store on this idea generate more revenue than what it will cost to get the patent? Or even, it might be less expensive so that you can just walk out of the whole thing. But for people who believe obtaining the patent is an investment and will be worthwhile over time, there are certain things that can be done to lower your costs.
Except if you are patent savvy, you are going to still need a professional to get ready the patent application. A possible approach to minimize costs is to apply a patent agent rather than a patent attorney. Patent agents are non-attorneys that are qualified to prepare patent applications and routinely have lower rates. No matter whether you select an attorney or even an agent to make the application, their costs is going to be worth it.
It is important to remember that its not all patents are produced equally. The value of How To Pitch An Idea To A Company is determined by the method by which it is written, particularly in the “claims” part of the patent. All too often, individuals file patents without the assistance of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors do not have trouble ixcxxf around such weak patents, and also the individual may lose millions of dollars amount of revenue.
Because you hire an attorney doesn’t suggest that you don’t have control over the costs. Ready inventors who communicate quickly using their attorneys could have the greatest savings. Do not approach a lawyer until you have done everything else that you can do. Before making any major investment you need to do the research. Websites like uspto.gov, inventorbasics.com, and others might be a good starting point. 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 with an attorney, and he/she begins asking questions you don’t have answers for, rescheduling another visit may be necessary.