It’s crucial to note that the strategic benefit of a valid software patent is in safeguarding your invention from unauthorised usage by the competition while also setting your organisation for higher revenues. Because the cost of a patent is related to its perceived value, asking for a patent on a new miraculous discovery may be worth every cent you pay (and more). Applying for a patent on something that everyone knows how to work around makes no sense and isn’t worth the basic application price, no matter how great your workaround is.
The average software patent costs between $8,000 and $12,000, with a median of about $10,000, according to the American Intellectual Property Law Association.
Steps to Lower the Cost of a Software Patent Application
While the cost of a software patent is relative, you may reduce the cost by following the procedures below (in no particular order):
Begin with the obvious – take your time researching the correct attorney to discover one who is a specialist in your sort of patent and will work with you at a reasonable charge.
Prepare your own search to check the novelty of your approach – this may save you a lot of money in the long run and tell you how fast you need to obtain a patent (or not).
Prepare as much valuable documentation for your patent attorney as possible – doing the job yourself reduces billable hours.
Filing a provisional patent application, then taking a year off to develop the programme, examine market feasibility, and even attract investors.
Provisional patent applications are far less expensive but just serve to’reserve your beginning date.’ Many software businesses use this strategy to secure the protection of their concept while guaranteeing that the programme is worth developing
Suggestions for Saving Money When Enforcing a Software Patent
The owner of a patent is also the enforcer of their patent, thus while making judgments regarding enforcing your patent rights, keep the following guidelines in mind:
Only file in the nations where your industry is active.
Filing is only required if you want to licence or sell your software.
Most lawyers will also advise you to discontinue prosecution if it is clear that the eventual outcome would be detrimental to your company, but this is totally a personal choice.