We often hear comments from inventors and businesses that seeking patent protection is expensive. The good news is that with Caska IP, we have adopted a low overhead business model to reduce our overheads which results in substantial savings being passed onto the client.
The initial cost to draft and file a provisional patent application is typically in the range of $3,960 and $6,710 (Inc. GST and Patent Office Fees) depending on the complexity of the invention. The quality of the provisional specification is paramount as a high quality specification provides the protection required as well as saving costs in the longer term by reducing the likelihood of objections from the patent office.
To then file complete applications in Australia and overseas jurisdictions such as the USA, China you should expect to pay around $2,000 to $7,000 per country (this does vary heavily on the country). This cost is not due for at least a year after your initial application. The total cost tends to be about $6,000 to $12,000 per country and is typically spread over about 5 to 7 years. Once the patent is granted, renewal fees are payable to keep the patent in force.
The ultimate aim of a patent should be to generate far more revenue that the cost incurred during the patenting process. As you can see from the above costs, provided you select countries of high commercial value in which to seek patent protection, the patent costs should in fact be dwarfed by the revenue generated by the patent. This revenue may be direct revenue by licensing or selling your patent or this revenue may be indirect due to the propriety nature and protected market share of your invention.
Caska IP has a fixed fee model to provide you with a clear estimate of patent costs upfront. We also have an associated network of like minded patent attorneys in international jurisdictions, such as the USA, who are also able to provide low fixed patent costs and expertly handle your patent application before the patent offices in their respective jurisdictions.