There’s a few necessary steps to determine the cost to file a patent with a professional attorney. Unfortunately, patenting is not always the cheapest process for bootstrapping inventors. However, the value and advantages it provides novel ideas is absolutely immeasurable. Registering intellectual property can save invention firms millions of dollars in litigation fees and infringement penalties. Even better, it gives holders the exclusive right manufacture, distribute, produce, and sell protected inventions – essential for keeping competitors at bay. As an inventor yourself, you should get a better idea of intellectual property (IP) drafting, registration, and acquisition costs before you file. This way, you can calculate how much value these services will offer your business. Read on to determine the cost to file a patent with a professional attorney.
Speak With A Patent Attorney
To get a better understanding of drafting, prosecution, and acquisition expenses, it is imperative to speak with a patent lawyer in San Francsico. Think of your intellectual property attorney as your partner throughout the end-to-end process. They’ll be here to answer any questions or concerns you may have while filing – especially in regards to cost. A skilled patent attorney can give you a accurate understanding of what to expect in terms of price. They’ll factor in the protection needed, invention complexity, and government filing fees into their decision. Certainly, speak with an attorney to best determine the cost to file a patent in the United States.
Get A Patent Search Report
When you calculate the cost to file a patent, a search report is another useful tool. An intellectual property (IP) search report will provide insights on any similar prior art references, which could be considered similar to your invention. This can shed some light on how difficult, involved, and complex the end-to-end patent prosecution process will be. If lots of similar references exist, you should expect more of a battle with the USPTO. Naturally, this will lead to higher costs – especially when compared to invention’s with few prior art references. Surely, an in-depth IP search report is a helpful resource for determining the cost to file a patent.
Choose A Type Of Patent
Since intellectual property filing costs vary based on patent type, you must determine what you are looking to file. Certain patent costs more than others. Provisional patent applications (PPA), for example, are relatively inexpensive – often costing around $250. Of course, these only provide protection for a brief, one-year pendency. For longer-term protection, you’ll need to consider a design or utility patent, which are also more expensive. For a design patent, you should expect to pay around $850. This is in addition to a $255 USPTO government filing fee. Since they provide a broader scope of protection, utility patents are slightly more expensive. For these applications, you should expect to pay around $3500, as well as a $455 filing fee from the USPTO. Indeed, choose the right type of application to accurately determine the costs to file a patent.
Use A Patent Cost Calculator
A USPTO patent cost calculator is an incredibly helpful resource for determining intellectual property prosecution expenses. These powerful online resources rapidly calculate approximate costs for patent drafting, filing, and prosecution. In their calculation, the top solutions account for filing fees, search report costs, and USPTO examination fees. They also factor in renewal fees, which will be required after approval. Absolutely, use an online, trusted price calculator to determine the cost to file a patent with a registered attorney.
Conduct A Discounted Cash Flow (DCF) Analysis
While it won’t tell you the exact cost to file a patent, you may want to also conduct a discounted cash flow analysis. Simply put, a DCF will give you a more accurate, up-to-date understanding of your invention’s current value. Then, you can use this figure to determine whether or not patent prosecution is worth the investment. As long as the DCF-calculated value is higher than the current patenting cost, you should certainly pursue the investment. Definitely, use a DCF analysis to quickly determine approximate cost to file a patent in the United States.
There are several necessary steps to determine costs to file a patent with a lawyer in the United States. First and foremost, speak with a qualified, experienced patent attorney. Next, get a thorough IP search report. From here, you should take some time to think about what type of application you need. Of course, an online price calculator can also help you understand how much patenting costs. You can also try to use the discounted cash flow, or DCF formula. Follow the points above to determine the cost to file a patent with a professional attorney.