Are you afraid of what it will cost you to obtain a patent? If you are Inventhelp Store Products, you might be. Large corporations may be able to shell out 1000s of dollars without flinching, however when the money comes from a single income it’s a different story.
So, just how much would it cost a person or your small business to get a patent? Let’s begin with the fees through the US Patent Office. To file a simple patent application the fee is $500. When the patent is granted, there exists a $700 issue fee plus a $300 publication fee. There may also be surcharges when the patent application is over 100 pages or has a lot more than 20 claims. There is typically some communication involving the patent office as well as the inventor (or perhaps the inventor’s attorney) during the review procedure for the application form, and when the inventor’s responses are late, there may be even more surcharges.
Now that we’ve established that the Patent Office’s fees alone can be quite expensive, let’s discuss attorney fees. It could not be unreasonable to get 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 to the patent office. However, there are some attorneys who charge lower fees – $2,000 to $4,000 total – for work making this process a lot more affordable.
At this point you may wonder if it is all worth the cost. Ask yourself this query: Will owning a patent about this idea generate more revenue than what it can cost to obtain the patent? If not, it may be a little more economical so that you can just walk out of the whole thing. But for those who believe obtaining the Inventhelp Patent Services is surely an investment and will also be worth the cost within the long run, there are some things you can do to minimize your costs.
Except if you are patent savvy, you will still want a professional to get ready the patent application. A possible method to minimize costs is to apply a patent agent rather than a patent attorney. Patent agents are non-attorneys who definitely are capable to prepare patent applications and normally have lower rates. No matter whether you decide on an attorney or perhaps an agent to make your application, their costs will be worthwhile.
It is essential to remember that not all patents are created equally. The value of the patent is determined by the way in which it really is written, particularly in the “claims” area of the Inventhelp Product Development. Very often, individuals ogapcl patents without the assistance of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors do not have trouble getting around such weak patents, and the individual may lose vast amounts of money worth of revenue.
Just simply because you hire legal counsel doesn’t mean that you simply don’t have control of the costs. Well prepared inventors who communicate effectively using their attorneys may have the biggest savings. Tend not to approach legal counsel until you have done anything else you can do. Before making any major investment you must do the research. Websites like uspto.gov, inventorbasics.com, as well as others might be a good place to start. Prepare figures, write an in depth description from the invention, and perform a patent search (uspto.gov). If you take up a visit with the attorney, and that he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.