How much does a patent cost? There are four major components: Filing fees, Lawyer fees, Drawing fees, and Maintenance fees. Each of these components may have a varying amount of cost. To determine the total cost of your patent, you must consider your invention’s complexity and business environment. For example, blockchain technology requires more explanation, while a minor twist on an old technology will require less explanation. For the simplest inventions, the filing fees will likely be less than $500.
Filing fees
Filing fees for a patent can add up quickly. In general, you should budget between $5,000 and $7,500 for the process. These fees cover everything from preparation and prosecution to issue and enforcement. Preparation and prosecution include everything from understanding the invention to writing claims, specifications, and getting illustrations. Additionally, you’ll need to pay for odds and ends that need to be filed with the US Patent and Trademark Office. Here’s how you can calculate the cost of filing a patent.
The basic examination fee covers the time that an Examiner spends examining three independent claims and 20 total claims in a utility patent application. If the applicant files more than three independent claims or 20 claims in a patent application, they must pay an extra fee for each claim above the third. For example, each additional claim would cost an additional $460. For each additional claim above the third, an additional fee of $100 or $50 would be required.
Lawyer fees
A patent attorney’s fees are generally broken down into two separate categories: preparation and prosecution. Preparation costs include everything that gets your invention to “patent pending” status. Preparation costs may include preparing the claims and specification, getting illustrations created, and completing other odds and ends that must be filed with the US Patent and Trademark Office. Prosecution costs are much higher. However, the time spent on preparation will likely pay for itself in the long run.
A provisional patent costs between $2,000 and $10,000 to file and is included in your patent attorney’s fee. A nonprovisional patent can cost between $5,500 and $8,500. In addition, a provisional patent application may cost as little as $3,000.
Drawing fees
The price for patent drawings can vary significantly, depending on how complex they are. For example, one patent drawing could cost $50 and another may cost as much as $1,000. Prices are often quoted per sheet, and can vary widely depending on the complexity of the invention. Drawing fees can be based on a range of factors, including the type of reference materials required. For simple inventions, rough sketches on cocktail napkins might suffice. But more complex inventions may require a photograph of a prototype or an AutoCAD drawing of the entire product.
While patent applications without drawings are often rejected, patent drawings are essential to the success of your application. If you fail to provide the USPTO with accurate drawings, you may lose your patent rights, which will ultimately cost you more money. Patent drawings show multiple views of an invention and help the examiner understand it better. Patent drawings cover all claims in the patent application, including the claims for a new product. Drawing fees for patent applications can vary widely, but the cost of a patent drawing is solely dependent on the complexity of the invention.
Maintenance fees
Some patent offices charge maintenance fees on issued and pending patents. However, the U.S. Patent and Trademark Office does not. Nonetheless, you must pay the fee within a specific window, after which the patent becomes abandoned and unenforceable. If you fail to pay the fee on time, you will have to file a new patent application. Fortunately, you can avoid this hassle by following a few simple steps.
When you pay your maintenance fee, make sure you specify the type of patent you own, whether it is a United States, European, or supplementary protection certificate. If you fail to specify this information, the Office will send you a notification, asking you to specify the purpose of the payment. If you fail to reply within 15 days, your payment will be returned. In many countries, the patent office does not notify you of an impending deadline, so you should keep track of the date of each fee.
Do-it-yourself route
The Do-it-yourself route to patent costs can save you a significant amount of money. This method also allows you to better understand the patent process. Taking the Do-it-yourself route to patent cost will not only save you money but will also produce a higher-quality patent. Below are some tips for navigating the patent application process on a budget. Read on to find out how to get started and start saving money!
Invest in an attorney’s services if you can. Patent attorneys charge upwards of $3,500 and can save you time, but can easily cost you thousands of dollars. Be sure to thoroughly research your subject matter before drafting your patent application. Read up on other patents that relate to your invention to determine what the chances are of your patent being approved. You should also research and draft your patent based on that research.