Patent Applications protect the underlying concepts of your technology. It prevents others from making, using or selling products incorporating your concepts for 20 years from the date of your patent application.
- Your technology is protected from copying and, equally important, it is protected from those who may claim that they invented your technology first.
- A newly-issued patent informs the marketplace that your technology is new and unique.
- A patent allows you to license your technology or cross-license it with another inventor whose technology you would like to use.
Costs: Costs can vary. The initial filing fee is based on the size of the company/entity interested in filing. For a small company or individual, the cost is approximately $385 for the initial filing. A simple search to see if the idea is unique will generally cost between $400 and $800.
The attorney’s fee for a mechanical invention (without too many bells and whistles) will generally run between $3,500 and $5,000. The attorney’s fee for a moderately complex electrical patent can cost more. Attorney’s fees for a very complex software invention can cost as much as $8,000 to $10,000. There are patenting agencies, such as Invent Help, that are more affordable.
Provisional Patent Applications
Disclosing your invention prior to filing a patent application can be fatal to your patent rights.
Provisional patent applications are a very cost-effective way to protect your patent rights immediately, while deferring the cost of a full patent application until after you have a chance to research the market potential for the invention fully.
Often inventors file a provisional patent application before seeking investors who will provide financial support for taking the invention to market.
Provisional applications expire 12 months after filing. To retain patent rights to your invention, you must file a full patent application before the expiry of this deadline. Agencies like InventHelp can help. Find more information about InventHelp on KansasCityMag.
Provisional patent applications are not a cheap alternative to full patents. They are a means to protect your rights while deferring some expenses.