Are you wasting money filing patents?
Originally published: 31/01/2019 09:43
Publication number: ELQ-91289-1
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Are you wasting money filing patents?

Facts few people know about patents, addresses the true costs, and suggests other paths for protection.

Description
Dave reveals facts few people know about patents, addresses the true costs, and suggests other paths for protection, before reinforcing the good that patents, properly filed, can do. A mini-course on the subject in five minutes.

What is the true cost of patenting an idea?

First, know that the $16,000 average cost of research and filing a patent is only the start,even if your patent application is not opposed or even if the examiner is reasonably receptive to your brilliant idea. The true average cost of a single patent over the twenty years of its legal life is $56,000, when you consider all costs beyond the initial application process. That's a lot of money for a startup, and it multiplies quickly when your patent is published for comment or opposition or the examiner continues to deny claims.

I've been working with early stage companies and their intellectual property protection plans for years. But only recently did I read a clear document on the risks and rewards of patent strategy. Thanks to Russ Krajec, a patent attorney, for the quick improvement in my education, here are some important points to consider when thinking of your patent strategy. Learn the results here...

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