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, 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 begin with the fees from your US Patent Office. To file a basic patent application the charge is $500. If the patent is granted, there is a $700 issue fee plus a $300 publication fee. There may even be surcharges when the patent application has ended 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 even the inventor’s attorney) through the review procedure of the application form, and if the inventor’s responses are late, there may be even more surcharges.
Given that we’ve established the Patent Office’s fees alone can be quite expensive, let’s talk about attorney fees. It would not really unreasonable to have a patent attorney charge from $150 to $400 one hour for their 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 several attorneys who charge lower fees – $2,000 to $4,000 total – for their work making this process a lot more affordable.
At this point you may wonder should it be all worth it. Think about this inquiry: Will possessing a patent on this idea generate more revenue compared to what it will cost to get 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 of you who believe obtaining the Inventhelp Inventor Stories is surely an investment and are worth the cost inside the long run, there are some things you can do today to minimize your costs.
Unless you are patent savvy, you are going to still desire a professional to make the patent application. A possible method to minimize costs is to apply a patent agent instead of a patent attorney. Patent agents are non-attorneys who definitely are capable to prepare patent applications and routinely have lower rates. Whether or not you select a lawyer or perhaps an agent to make the application, their costs will likely be worth it.
You should understand that not every patents are produced equally. The value of any patent depends on the method by which it is actually written, particularly in the “claims” section of the Inventhelp Success Stories. Very often, individuals ogapcl patents without the help of a patent attorney or agent and end up with a patent with unnecessary limitations. Competitors have no trouble getting around such weak patents, as well as the individual may lose huge amounts of money amount of revenue.
Just because you hire a lawyer doesn’t mean which you don’t have power over the expenses. Well prepared inventors who communicate quickly and effectively using their attorneys could have the largest savings. Tend not to approach legal counsel till you have done everything else you can do. Before creating any major investment you must do the research. Websites like uspto.gov, inventorbasics.com, yet others might become a good starting point. Prepare figures, write an in depth description of the invention, and do a patent search (uspto.gov). If you take up a visit having an attorney, and he/she begins asking you questions you don’t have answers for, rescheduling another visit may be necessary.