What is Provisional Application Cost?
What is Provisional Application Cost?
Provisional applications are cost-effective placeholders that protect an invention for twelve months. Unfortunately, they will not grant patent rights on their own; to take full advantage of a PPA, an inventor must still file a non-provisional application within those same twelve months.
Filing for a US patent can range in cost from $50-$700, depending on the complexity of your invention and attorney’s fees. There are additionally filing fees for examination, which cover the time it takes to review three independent claims and 20 total claims.
Self-preparation should become part of your everyday routine. Not only does it help you reach your objectives, but it also gives you a sense of gratification and accomplishment when you succeed.
Success in this area requires keeping your focus on the prize – your dream job. To do this, set short-term objectives and identify milestones to strive towards.
Once your goals are set, it’s time to move on to the next step in your self-preparation plan: finding opportunities that will turn your dreams into reality. This requires some diligent research but should pay off when you reach a point where you feel ready to tackle the world!
To effectively save money and have peace of mind when applying for a patent, the best course is to enlist the assistance of an experienced patent attorney. Patent attorneys specialize in seeing the big picture and avoiding common mistakes that small startups often make. Furthermore, they’ll identify the most cost-effective path towards securing that valuable patent. In conclusion, you’ll save some cash while having peace of mind knowing your venture is in capable hands.
The micro entity approach to provisional application cost is a new option for small inventors to pay reduced patent fees. This strategy recognizes that most independent inventors do not possess large capital investments or significant resources – instead they operate as micro businesses managed by individuals or partnerships with limited employees and/or shareholders.
To become a micro entity, an individual must meet four certification criteria. These requirements include having no “inventor” on any previously filed applications; (iii) no party with an “ownership interest” in said applications; and (iv) no applicant with an ownership interest on a recently filed patent application.
Micro entity status can be claimed for applicants who lack either an inventor on a previously filed application or ownership interest in that application. To do this, they must complete four certifications on Form PTO/SB/15A or file one single certificate with multiple applicants who all meet the four criteria for micro entity status.
To maintain micro entity status for an entire calendar year, it is essential to confirm that no inventor, non-inventor applicant and party with a 37 CFR 1.29(a)(4) “ownership interest” had gross income in the prior year that exceeded the “maximum qualifying gross income” reported on the USPTO website. If an inventor or other party with such an ownership interest had gross income greater than this maximum qualifying income in any previous calendar year, they must file notification of loss of eligibility under 37 CFR 1.29(i).
Furthermore, micro entity applicants should exercise caution when assigning or transferring their ownership interests to entities that are ineligible for micro entity status. The Office will take notice and may impose additional limits under 35 U.S.C. 123(e) if it appears that many applications have been made in this manner.
A provisional patent application is an efficient way to start the patent process, and you’ll need one if you plan on filing a utility application. While it does not grant you a patent, it serves as a placeholder while your nonprovisional application is being prepared – though remember, this temporary seal expires after twelve months!
Contrary to filing fees for a utility application, which are determined by your entity status, the provisional fee is not associated with that status. That means you can pay the same fee as either a micro entity and be classified as either a small or medium entity – no distinction made!
One way to save money on a provisional patent is to hire an attorney for filing it. They can also give you a more accurate estimation of what your final fees will be.
However, it’s essential to be aware that your attorney will likely charge professional fees for preparing your patent application. Furthermore, there will likely be a search fee and examination fee as well.
Once your application is accepted and a patent issued, maintenance fees must be paid. These are set at cost recovery levels – that is, how much the USPTO would need to recover from the applicant.
The USPTO sets these fees to recoup all expenses related to patent processing, activities and services. In other words, it wants to guarantee that it is recouping all expenses incurred during examination and issuance of patents.
On December 29th, 2022, the Unleashing American Innovators Act was signed into law and significantly increased discounts for small and micro entities (with certain exceptions like statutory disclaimers under 37 CFR SS 120(d). Furthermore, the USPTO now permits applicants to request lower application fees until their application is approved or issued, provided they pay all required fees with good faith.
It can be easy to overlook this aspect of the patent application process, particularly if you’re unfamiliar with its workings. In addition to these fees, you must pay a patent issue fee before the USPTO will grant your patent – this helps safeguard against infringement. Moreover, there will be maintenance fees at regular intervals throughout its lifespan that must also be paid.
Hiring an attorney
Though the initial cost of hiring a patent attorney to handle provisional application costs may seem high, the long-term benefit is worth it. An experienced lawyer will reduce errors and guarantee your invention is protected correctly.
Many inventors and tech companies find themselves in a predicament where they want to file for patent protection but lack the funds. There are several options, such as drafting and filing their provisional patent application on their own or hiring an attorney to do it for them.
Some attorneys offer low hourly rates to prepare a provisional patent application. Although this may appear like a great deal, be sure to ask how much time they plan to invest into writing the patent application for you.
Generally speaking, the lower your hourly rate, the less time they expect to put into writing your patent application. For instance, if they quote you a $2,000 fee to prepare a provisional patent application but their hourly rate is $400 per hour, then they are expecting only 5 hours of work into creating it!
Writing a provisional application doesn’t take much time!
If your invention is worth investing in and you plan to spend a considerable amount of money, hiring a patent attorney to prepare your provisional application is highly recommended. Any misstep can potentially jeopardize the potential profitability of your venture.
Another way to cut costs with patent preparation is by creating a “white paper” outlining your invention in comprehensive detail. This document can serve as an aid for the patent attorney when drafting your application.
White paper can include pictures, drawings and charts that your attorney can use to draft your application. This method can help keep expenses down if the white paper is of high quality.
Though you can prepare a patent application on your own, it can be challenging to do so successfully. There are multiple components involved in the patenting process and it can be overwhelming to comprehend each component and how they interact, especially when working with an innovative idea that has not yet been tested.