Sunday, February 3, 2008

Fees, Fees, and More Fees

For anyone considering inventing, or "creating" a new product, an area of consideration that needs to be kept in mind is protecting your intellectual property.
Many of us see all the wild inventions on television - from salad spinners to "foot pads" that will detoxify your body from harmful metals and other substances. What nobody realizes is the fees that go into obtaining a US Patent.
From filing fees to legal fees - a patent that is deemed "relatively simple" to "highly complex" will cost a product developer anywhere from $4,000 to in excess of $25,000.
The one way to somewhat get around the major expense to protect your intellectual property would be to obtain a "provisional patent" - which comes with warnings of it's own.
Kelly Spors, a writer for the Wall Street Journal stated that "the vast majority of patents- some estimates suggest up to 97% - never reach the market."
There are companies that you can tap into that will bring your product to market. Unfortunately, they will end up making the bulk of the money.

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