For individuals and companies whose profit is dependent on the success of their innovations, awareness about patents and their functions is essential. Without the shield of patents, or intellectual property rights, the ideas or products of the inventors are vulnerable to trade sharks who infringe weaker laws that offer a flimsy cover of protection.
However, not all inventors or ideologists can afford strong patent protection for their new product ideas. Obtaining a cheap patent without jeopardizing the safety of the product is a tricky task. The citizens of nations across the world deal with the financial problems surrounding the securing of patent protection.
In the United States of America, you can file a provisional patent application with the United States Patent and Trademark Office (USPTO). The product is then protected by certain sections under the United States patent law.
A provisional patent in USA is valid for the period of 12 months, and the inventor must seek a non-provisional patent application by the end of this time frame.
The fee for acquiring a provisional patent is priced at just $100 – a sure investment considering that the words “patent pending” printed alongside the invention have been observed to tip the balance to the benefit of the inventor.
Attorney charges involved in attaining an intellectual property right or a patent for a product are considerably high given the sizeable paperwork involved.
The patent attorneys ensure that the protective wall erected by the patent filed is impenetrable, besides making sure that the product itself does not breach the patent claims protecting something similar.
Since institutions issuing patents must also cross check to assess the utility of the product and must be convinced of the uniqueness of the idea or the product, the process of getting a patent is an expensive one. It is, however, an unavoidable investment for a dedicated inventor.