There’s nothing more connected to the idea of the American Dream than being an inventor or an innovator. America has a long history of such exciting developments, dating back as early as the invention of the suspension bridge and potato chips.
If you yourself are an inventor, you need to know how to protect your valuable work. You may be wondering, how much does a patent cost for your new idea? Without knowing the exact amount, it can be hard to work it into your budget as you figure out your life.
If you want to learn about patent costs, read on. We’ll walk you through everything you need to know.
How Much Does a Patent Cost?
The truth is, there is no one set price for a patent. The price of obtaining a patent can vary depending on a number of factors, including the type of patent one is seeking and the complexity of the invention in question.
Generally speaking, a patent is likely to set you back anywhere from $900 to as high as $15,000. The lower end of the spectrum will result from if you try to go through the patent process with a DIY approach. That is to say, you do it all on your own.
The higher price points reflect the cost of hiring patent attorneys to help you get everything filed away properly. Filing for a patent can be quite complicated, after all, and many people end up needing this kind of help.
Types of Patents
The type of patent you’re looking to file will play a big part in determining just how expensive your application will be. A provisional patent will be the cheapest to obtain, costing only a couple of thousand dollars at the end of the day. This will be enough to protect your idea in its early stages.
Patenting the design and concept of a product will be the next cheapest option, via the form of a design patent. On average, you’d be looking at around $5,000 to do this.
However, the most desired and often the most expensive form of a patent is the utility patent, which protects a physical product. This could cost you anywhere from $5,000 all the way up to $15,000. You might have to take out title loans to make ends meet pursuing these kinds of costs!
There are also maintenance fees you’ll need to come up with and pay as time goes by. These usually come into effect about three years after the initial filing of your patent. Again, the amount you’ll be required to pay will depend on the type of patent you’ve filed and the complexity of the product or idea.
Costs to Get a Patent
How much does a patent cost? If you’re an inventor, it can be essential to know the answer to this all-important question. The above information can help.
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