Are you fearful of what it will cost you to have a patent? Should you be Inventhelp Patent Invention, you could be. Large corporations may be able to spend lots of money without flinching, however, when the cash comes from just one income it’s another story.
So, just how much would it cost someone or your small business to obtain a patent? Let’s begin with the fees from 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 plus a $300 publication fee. There may also be surcharges in the event the patent application is over 100 pages or has greater than 20 claims. There exists typically some communication in between the patent office as well as the inventor (or the inventor’s attorney) during the review process of the application, and if the inventor’s responses are late, there could be a lot more surcharges.
Since we’ve established that this Patent Office’s fees alone can be very expensive, let’s talk about attorney fees. It could not really 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 a few attorneys who charge lower fees – $2,000 to $4,000 total – for work making the procedure much more affordable.
At this stage you could wonder when it is all worthwhile. Ask yourself this question: Will owning Patent Help on this idea generate more revenue than it is going to cost to obtain the patent? If not, it could be less expensive for you to just walk out of the whole thing. But for those of you who believe having the patent is surely an investment and are worth it over time, there is something you can do to lower your costs.
Unless you are patent savvy, you may still need a professional to get ready the patent application. A likely approach 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 decide on an attorney or perhaps an agent to make the application, their costs is going to be worthwhile.
It is important to understand that not every patents are made equally. The value of Inventhelp is dependent upon the way in which it is actually written, specifically in the “claims” section of the patent. All too often, individuals file patents without the help of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have no trouble ixcxxf around such weak patents, and the individual may lose millions of dollars amount of revenue.
Just because you hire an attorney doesn’t imply that you don’t have power over the expenses. Ready inventors who communicate effectively using their attorneys will have the biggest savings. Do not approach legal counsel till you have done anything else that can be done. Prior to making any major investment you have to do the research. Websites like uspto.gov, inventorbasics.com, and others might be a good starting point. Prepare figures, write a detailed description of the invention, and perform a patent search (uspto.gov). If you take up a visit with the attorney, and that he/she begins asking questions you don’t have answers for, rescheduling another visit could be necessary.