Are you afraid of what it will cost you to have a patent? If you are Inventhelp Commercial, you might be. Large corporations may be able to shell out thousands of dollars without flinching, but when the money comes from a single income it’s a different story.
So, just how much would it cost an individual or a small business to acquire a patent? Let’s start with the fees from the US Patent Office. To file a simple patent application the fee is $500. Once the patent is granted, there is a $700 issue fee in addition to a $300 publication fee. There may even be surcharges in the event the patent application has ended 100 pages or has more than 20 claims. There is certainly typically some communication involving the patent office as well as the inventor (or the inventor’s attorney) during the review procedure of the application form, and in case the inventor’s responses are late, there may be even more surcharges.
Since we’ve established the Patent Office’s fees alone can be rather expensive, let’s discuss attorney fees. It would not really unreasonable to possess a patent attorney charge from $150 to $400 an hour or so for services. Some companies may pay $12,000 to $14,000 in attorney fees to acquire a patent application towards the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for their work making the process much more affordable.
At this particular point you may wonder when it is all worth it. Ask yourself this inquiry: Will having a patent on this idea generate more revenue compared to what it will cost to get the patent? Otherwise, it may be more economical so that you can just walk from the whole thing. But for people who believe getting the Inventhelp Wiki is surely an investment and will be worth the cost within the long run, there are certain things you can do in order to minimize your costs.
Unless you are patent savvy, you are going to still want a professional to prepare the patent application. A possible method 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 routinely have lower rates. No matter whether you decide on an attorney or an agent to prepare your application, their costs will be worthwhile.
It is important to keep in mind that not all patents are made equally. The worth of the patent is determined by the method by which it is written, specifically in the “claims” part of the Inventhelp Idea. Much too often, individuals ogapcl patents without the assistance of a patent attorney or agent and get a patent with unnecessary limitations. Competitors have no trouble getting around such weak patents, and the individual may lose vast amounts of money worth of revenue.
Just since you hire an attorney doesn’t mean that you don’t have control of the expense. Well prepared inventors who communicate quickly with their attorneys could have the largest savings. Usually do not approach a lawyer until you have done everything you can do. Before making any major investment you have to do your research. Websites like uspto.gov, inventorbasics.com, yet others might be a good starting point. Prepare figures, write a detailed description in the invention, and conduct a patent search (uspto.gov). Should you begin a visit having an attorney, and then he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.