How Much Does a Patent Cost?
It is not surprising that many inventors do not ask how much does a patent cost when they get started on their invention.
They are quickly motivated with their inspiration to get on with the design and production without concern over the cost of patent on their invention.
Many inventors are too agitated with their inspiration to be bothered about patent costs; these individuals are passionate over their ideas which they fully believe would be functional to benefit consumers while boosting the standard of living or even transform civilization to a higher degree.
Understanding Patent Considerations
However, it is not entirely inventors’ fault to be distant about the cost of patents on their inventions as understanding and estimating patent costs can be quite difficult due to the involved technologies and procedures. Ballpark figures or even estimates of patents are difficult although interested parties can consult the Patent Attorney or US Patent Office directly.
First, patenting an invention requires a unique product that fits the description of the US courts and Patent Office. There are patent applications which must be secured for a price. Preparation and filing of a patent application incurs a certain cost that depends on invention category and complexity. The preparation process is tedious and complex with a lot of text, drawings and incomprehensible content related to patent law.
Most inventions by independent inventors are categorized under simple to minimally complex. Nevertheless, a lot of strange terminology comes into play. A thorough knowledge of these terminologies and the invention itself is crucial to generate a reliable estimate of a patent cost.
Assortment of fees
There are different attorney fees via a patent filing for extremely simple to highly complex non-provisional patent application. An extremely simple invention patent application costs between $5000 and $7000 attorney fees; an extremely simple invention refers to inventions similar to electric switch and ice cube trays.
The fees keep going up for more complex inventions with a highly complex invention pricing attorney fees over $15000! A highly complex invention matches similarly to MRI scanner, satellite technologies or complex software.
There is also the standard government filling fee from a minimum $500 depending on the number of claims included in each application. Professional drawings as a compulsory feature in a patent application can cost between $200 and $400. The higher patent costs are intended to categorize the invention complexity as well as offer broader patent protection.
Budget for patents
Inventors may want to consider their budget for an invention patent based on the purpose and future market opportunities of the invention. A definite market opportunity may compel inventors to expand their budget for the patent to cover a broader base of protection to avoid of competitors’ claims of similar inventions.
A stronger patent budget allows more claims and attention with more patent disclosures, alternatives, variations, options, and embodiments which the hired attorney would assist for a bigger fee. Higher filing fees are expected as more time and effort are expended by the attorney and patent examiner for a successful patent issuance.
Also Read >>