The answer to every ‘how much does it cost’ query is, predictably, ‘it depends.’ Of course, any good lawyer will advise you that you should also inquire how much time you are ready to devote to your provisional patent.
The cost of submitting a provisional patent may be controlled if the inventor or entrepreneur puts in some effort and works closely with their counsel. This is particularly important for new enterprises or entrepreneurs with little money but huge ideas that have the potential to produce a lot of money.
Methods for Filing Provisional Patents That Are Both Expensive and Inexpensive
The cost of a provisional patent is determined by how you go about patenting the idea:
You may create and submit your own patent application (the lowest option) for about $900.
The most costly option is to engage a patent lawyer or patent agent to create and submit the application for you, which will cost between $5,000 and $10,000 in attorney billing time.
Why is a Provisional Patent Filing Necessary?
Since the new ‘first to file’ criteria were enacted as part of the America Invents Act in March 2013, businesses and inventors have been adopting a proactive approach to patenting their ideas – and for good cause. A provisional patent allows the filer to apply for a patent on an idea that will be patented within a year of the first filing date. A provisional patent is a realistic alternative for cash-strapped enterprises to guarantee that their product is protected even before it reaches the market, so that when it does reach the market, the rights are secured.
Of course, a patent’s protection is only as good as the limitations and legal safeguards indicated in the patent application, which is where a skilled patent attorney comes into play. Sure, any inventor may fill out and submit their own patent application, but unless they also work as a patent attorney, they will not be aware of all the legal protections that should be stated in the patent. The only way to safeguard your important idea and the money it will produce is to get a well-defined patent.
Spending a little more than it would take to file it yourself is well worth the additional expense and will save you a lot of money in the long run while defending your patent.