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8 Secrets to Patenting Your Invention
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Article 5: Costs Of A Patent
The cost of getting a patent and bringing the product to market is measured in time as well as money.
If you have more time than money, you might consider patenting your invention yourself. The drawback to that option is that you’re probably an inventor, not a bureaucrat or a lawyer, and both of those skill sets are invaluable in the process. The extensive documentation and searching and filing procedures for your patent involve a steep learning curve for novices.
The basic filing fee for a patent application ranges from $310 to $690. Additional fees may apply. When a patent is issued, additional fees range from $430 to $1,210. Maintenance fees also are required periodically to keep your patent in force, and range from $830 to $2,910 for 3½ to 11½ year periods. All fees are reduced by half if you qualify as an independent inventor, small business or nonprofit organization inventor.
There are additional widely varying costs, including the expense of developing a prototype of your idea. Build and test a small-scale prototype as soon as possible to prove to yourself and later to others that it works.
Patent attorneys or patent agents charge about $2,500 to $6,000. Seek those registered with the U.S. government, and try to find the ones that charge a flat fee. Always inquire about their area of expertise. No patent attorney or agent specializes in all fields.
The fees are only $50 to $250 to search at the U.S. Patent and Trade Office (USPTO) to determine whether your patent already exists. But the costs of patent development companies that specialize in bringing products to market can vary widely, and substantially, depending on the amount of work.
Most likely the greatest expense you will have for a successful patent that reaches market will be your marketing costs, which can amount to the lion’s share of your resources. This is an area where paying for expertise can be money well spent.
There are, however, some things you can do yourself to locate manufacturers and individuals interested in your invention. Chambers of commerce and banks connect products with distributors and manufacturers. The U.S. Small Business Administration also is a hub of information for inventors seeking markets. And each state has a list of planning and development agencies on the hunt for new products.
Finally, a small expense may be one of the best ways to cash in on your successful patent. For $25 the USPTO will publish a notice in its weekly Official Gazette advertising your patent for sale or for licensing.
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