Before you even consider filing a patent, you should know approximately how much it will cost. Just be aware of one thing–getting a patent is not cheap. A cheap patent is a useless patent.
To give you an idea, utility patents are the most expensive to obtain and start around $2,000 for a simple invention. Design patents start around $1,500. Both these prices are exclusive of patent fees.
ON A BUDGET? MAKE AN ALTERNATIVE FEE ARRANGEMENT!
If you are on a budget, alternative fee arrangements are available. For example, the inventor can arrange with me to limit the scope of representation to save on preparation fees. Don't let cost be a barrier to getting the protection you need.
WHY IS FILING A PATENT SO EXPENSIVE?
Patent protection is the most expensive to obtain because it requires:
- performing a patent search to determine patentability
- drafting of the broadest possible claims
- writing a detailed specification
- preparation of figures
- prosecution of the application itself
This process takes years to complete. The average prosecution time for a patent is is about 26 months, and the PTO currently has a backlog of approximately 546,000 patents.
WHAT CAN THE INVENTOR DO AFTER OBTAINING A PATENT?
After you have obtained a patent, you have to to figure out how to monetize it. This can be done by:
- Licensing the right to produce the patented invention
- Making and selling the patented invention
- Selling the patent
Each of these requires a knowledgeable attorney in order to get the best possible return on investment. Contact me today to go over all your options!