Estimating a Patent Cost is not easy. It depends on a lot of factors. And. also there is no defined method to calculate it.
However there are some guidelines by which one can calculate an approximate amount.
For patenting an idea, your patent must be novel. All the claims related to the patent are made in the description. By going through the description, one can understand the aim of the invention.
USPTO regulations make it difficult to create such descriptions and claim sets. One can obtain a patent cheaply as compared to 5-10 years ago but a quality patent is still hard to obtain.
Related article: How to conduct a patent search: A quick guide
Factors affecting the patent cost?
The most important factor that determines the patent cost is the complexity of patents. Most inventors know the patent application is a tough process and inventions are not easy as it sounds. One can get a perfect idea by going through other related patents. The number of drawings and documents needs a lot of attention to detail and one needs a professional for it.
Patents of independent investors lie under the category of simple to least complex. To secure a patent, One needs to file a non-provisional patent application.
It’s hard to estimate the cost without knowing the details of the application. However, there are some basic requirements and one can make a rough guess about their pricing.
Generally, patent filing fees are around $730 for small entities. For micro-entities, It is around $400. Also, patent drawings can cost from $300 to $500. This is not even the final patent cost because hiring a professional will raise this cost to around $15000.
All this cost depends upon your aim with the patent. If one intends to do business then firms spend more than the usual amount to ensure patent protection. A more secure patent needs to have thoroughly written claims and descriptions. They must cover every possible embodiment, variations, alternatives, and technical detail.
Some firms only have their Intellectual property to display. They use intellectual property to attract and convince investors. Hence, These firms end up paying 1.5 to 2 times the actual amount to ensure a strong patent portfolio.
How to decrease patent cost?
A common way used by investors is to conduct a patent search. A patent search gives you a clear idea about existing prior art. Firms can decide whether or not to file a patent. These searches don’t guarantee complete results. The goal of a patent search is to reach an 80% level of confidence. To achieve more than this will cost millions. However, a patent search helps you to write better descriptions in your patent application. It is easy to compare your invention with existing patents or prior art.
The most popular way is to file a provisional patent application. Complete information is disclosed in these applications but there are fewer formalities in comparison to non-provisional applications. This reduces the patent cost to a great extent. It allows you to secure your initial work and make changes in it over the next 12 months. The average cost of a provisional patent application is in the range of $2000-$6000 depending upon the technology and type of patent.
In conclusion, It is tough to calculate an exact amount as the patent cost can increase at any stage of the process. Also, $5000-$7500 is an average amount of fees needed in patent office and prosecution. The firm should ignore the discount providers as there is nothing known as ‘low patent cost’. It is a costly process and needs a professional or patent attorney to carry it out.
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