Why Cost of Preparing Patent Applications is Rising
When you are preparing a patent application, you are likely to be concerned about the costs. The process itself can be expensive, but the costs do not occur overnight. About half of the costs occur during the initial phase of the process, while the other half are incurred between nine months and two years later. The costs associated with expedited examinations of patent applications also increase the overall costs. For this reason, it is important to focus on the cost of preparing a patent application in the short term. By doing this, you can test the marketability of your product while you are waiting for the results.
Cost of preparing a patent application
The cost of preparing patent applications is rising because of the increased complexity of the patent system. Patent offices require large sums of money to process applications. The fee for filing a patent application may range from a few hundred dollars to several thousand dollars. The process itself is often time-consuming. Patent attorneys must prepare administrative documents and write technical descriptions. Patent attorneys must also have experience with patent law. The cost of preparing a patent application can be as high as $7,500.
Patent attorneys’ fees are a large contributor to the total cost of the patent. Most of these attorneys’ fees are tied to the amount of time spent on the project. For example, Henry Patent Law Firm offers flat fees based on estimated time spent. In addition, patent attorneys’ fees are also tied to the legal team’s involvement in the application. A patent attorney should not charge more than the ballpark figure for preparation of the patent application.
Inventors often desire a simple and inexpensive process for securing their inventions. They think the entire process should be simple and inexpensive. But, most inventors realize that the patent process is complex. Patents in this area are often replete with many pages of text and numerous drawings that make them impossible to understand for someone unfamiliar with patent law. So, it’s important to seek professional assistance. This can help you control costs and ensure quality patent applications.
Getting professional help can be an expensive task. It’s best to take advantage of online services. Some patent attorneys offer discounted rates if you pay in full up front. But, if you don’t have the time to hire a patent lawyer, you can create your own application. In fact, you can use patent templates to create your own patent application. LegalZoom is an online service that offers patent services for $199 to $899 plus federal fees.
While patents are a valuable asset, the cost of preparing a patent application can be very costly. The process can take years, and professional and government fees can add up. Understanding the costs of patenting will help you better align your budget and commercialization strategy. If you’re working with a limited budget, an effective strategy will allow you to minimize the costs of patent preparation. The key is to get an estimate of costs involved before you begin.
Steps involved in preparing a patent application
As the number of patents filed in the United States and abroad continues to grow, the steps involved in preparing a patent application are also growing. In the first step, an inventor must disclose their invention to a patent attorney. The patent attorney will then begin drafting the patent application with a series of claims. They will also include drawings to help describe their invention. The drawings may include existing inventions or may be sketches of the inventor’s own invention.
During the patent examination process, the examiner will review all published prior art, including the applicant’s description of the invention. This process may include typos, legal issues, or larger problems with the patent application. The applicant must respond to any objections or concerns in order to receive a successful patent. After the examination process is complete, the application will be published in the Canadian Patents Database. The process is not automatic, so the first rejection is a normal part of the process.
The patent specification is the technical document that describes the invention. This document is important because it protects the invention from obvious modifications and allows the inventor to enjoy commercial exclusivity. An accurate and well-written patent specification is essential for securing a patent. The patent specification will also affect the amount of patent protection that an inventor has in different countries. If the inventor wants to pursue patent protection in 150 countries, they should consider filing a PCT application, which is an international-style application that keeps patent protection pending in 150 nations for 18 months.
While drafting a patent application requires a collaboration between the inventor and an attorney, a strong understanding of an invention is essential for a patent attorney. The patent attorney should know the invention’s claims of usefulness and how it differs from similar products in the marketplace. Failure to do so will increase the risk of rejection by the USPTO. In fact, fewer than 60% of applications filed in the United States were recommended for issuance, and only twenty percent of those issued patents were commercialized.
Impact of filing a provisional utility patent application
There are a number of factors that will affect the cost of preparing a patent application. The type of invention and its complexity will have a major impact on the costs. Other factors will include whether you need a patent search and the number of drawings you need. Depending on the complexity of your invention, the process can take as long as three months or as short as three weeks.
A provisional utility patent is available for a period of 12 months and is intended to act as a placeholder while you prepare the full non-provisional application. Failure to complete this phase within that time period will result in the lapse of the patent. This means you may lose your idea. If you have an idea that you believe has a great deal of commercial potential, you will want to file a provisional utility patent application.
Filing a provisional utility patent application will increase the cost of preparing a full utility patent application. However, the time required to prepare a provisional utility patent application is much shorter than that of preparing a full non-provisional application. In addition, a provisional application is generally more effective than a full utility patent application because the United States Patent and Trademark Office does not have to review it. However, it may be less expensive to file multiple provisional utility patent applications.
If you file a provisional application, you will be able to claim priority, but it will not initiate the full utility patent review process. A provisional utility patent allows you to claim priority while you refine your invention details. Moreover, the provisional utility patent application does not require claims, inventors do not have to sign a Declaration, and there is no need to submit prior art.
Filing a provisional application will reduce the cost of preparing a full utility patent application. However, the process of drafting and preparing a patent application takes a significant amount of time. Nevertheless, it may be the best choice for your invention if you cannot afford to pay for the full patent application. However, it is best to prepare and file a non-provisional utility patent application as soon as possible.
Impact of filing a PCT application
Filing a PCT application is a good option for many reasons. Besides saving time, it can help you protect your invention from infringement. It can also reduce your costs and smooth the process before national offices. So, if you’re looking to file a patent application, make sure to choose this option. Here’s how it works:
Unlike the Paris-based application, the PCT doesn’t limit the number of claims an applicant can include in their patent application. This means that they can include as many meaningful features as possible. In addition, if a patent is granted, it can be enforced faster in the US, allowing you to benefit from an early grant. A positive search report may also lead to easier negotiations with licensing agreements, which can reduce the costs of filing national applications.
The PCT system is an international agreement between 160 countries. Filing a PCT application will delay the country-specific application due date by 30 months. A PCT application will retain the priority date of the original first-filed patent application. As a result, a PCT application will delay the preparation of many foreign patent applications. If you can’t afford to wait a year or two for the country-specific application, you may consider filing a PCT application instead.
As the cost of preparing a PCT application increases, you must be aware of the various claims styles that are allowed in different patent offices. A well-drafted PCT application must account for the variety of claim styles allowed at different offices. Moreover, it should minimize the number of costly surprises during the national phases, such as prior art documents discovered during national phase. You should also consider the cost of preparing a PCT application in order to protect your innovation from infringement.
Once you file a PCT application, the national patent offices will start the process of granting the patent. The PCT international search report, international written opinion, and international preliminary examination report should help you get a patent. Additionally, WIPO also organizes training courses and seminars for patent attorneys and agents. If you decide to file a PCT application, you should take these courses to learn more about the international patent system.