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Estimated Cost: $1,600 This is a temporary measure that protects your idea until you've concluded the entire patent filing process. Though the filing fees for your provisional patent are nominal from $65 up to $260 the real costs kick in when you engage legal help.
The cost of patenting an invention will range between about $1,500 and upwards of $10,000 depending on the complexity of the invention and on how much of the process you handle yourself. Filing fees are $65 for a provisional patent and between $130-400 for a non-provisional patent.
Prototypes or Models of Your Invention Your mock-up or prototype can cost as little as $50 and as much as $5000 for a basic concept. This dollar amount could be more depending on the complexity of your invention. There are many options of making prototypes these days including 3D printing and model making.
1:23 8:08 Suggested clip How To Determine the Sales Price of Your Products and Inventions YouTubeStart of suggested client of suggested clip How To Determine the Sales Price of Your Products and Inventions
A Poor Man's Patent. For those of you who are not familiar with it, a poor man's patent involves mailing a description of your invention to yourself in order to authenticate a date of invention for you by the Post Office. The proof is in the sealed envelope and the date the postage was cancelled.
Estimates of the Cost of Filing a Patent However, industry experts estimate that obtaining a patent on a simple invention (like a paper clip or a coat hanger) can total anywhere from $5,000 to $7,000. A patent on a complicated piece of software may cost $15,000 or more.
The average patent holder earns $256,000 per year in her mid-40s. The star innovators those who produce the most highly-cited patents and matter most for economic growth earn more than $1 million, on average, each year.
A recent survey showed that 54 percent of inventors think their invention will make over $5 million with another 24 percent expecting at least $1 million.
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