malhoyra what patent attorney should you hire

Why hire a patent attorney?

So, you want to hire a patent attorney to protect your new innovation. It could be for AI, Blockchain, Machine learning, IoT, or some other cutting edge technology that you are developing.

How much does an attorney charge to draft a patent?

Most attorneys charge within 20% plus or minus to draft a patent application of each other regardless of hourly rates. The better draft from the more experienced attorney will typically have less difficulty gaining allowance at the patent office.

How long does a patent last?

Patent rights last for up to 20 years from the date the idea was first filed. And it could be 3 or more years before a patent is granted. Given such long time frames, it is in your best interests to ask your patent attorney to give a ballpark estimate of the costs that you would incur during this entire period.

How many patents were filed in 2015?

According to US Patents and Trademark office 629,647 total patent applications filed in the year 2015. On average, about two thirds of those applications will issue eventually, but the likelihood of receiving a patent varies wildly with certain technologies having only a 10% chance of success.

Is simple innovation more expensive to patent?

Technology area with some requiring twice the writing budget over others. The patent office favors complexity over simplicity, so easy to understand innovation often requires a deeper explanation of the underlying technology which leads to the counter intuitive notion that simple innovation is more expensive to patent.

Is a billing rate a factor?

Billing rate is a factor but total drafting costs, minimizing churn, and an enforceable patent are equally important in making a decision. Hiring a better patent attorney, while expensive hourly, is in your best interests and should be seen as an investment in your IP assets.

Can an attorney file a patent?

For example, attorney may file patents in areas that the patent office rarely rewards with a patent. Also, they may not invest the time and effort to draft a patent application that will fly through the process. Impossible patent odds with very determined effort will quickly zap your legal budget.

What is a good patent agent?

Patent agents as a general rule tend to be very good at describing what it is that you as an inventor show up with.... What they tend to be much less good at is describing what your invention could be. They also frequently will use words that are more concrete and limiting than would a patent attorney.

What is the advantage of working with a patent agent?

According to patent expert Kevin Prince, the major advantage of working with a patent agent is most often price. Prince is a successful lifelong entrepreneur who has been passionate about helping inventors since he co-founded the Orange County Inventors Forum in 1990.

When did Prince start QuickPatents?

In 2005, after becoming a patent agent, Prince founded QuickPatents. Today he employs three other practitioners, including two patent attorneys. Price-wise, Prince put his services in the "20-25 percentile range of patent prosecution fees charged nationwide.".

Can a patent attorney be vague?

Attorneys are taught the art of both being hyper-specific, which is necessary at times, but also the art of being anything but specific. I wouldn't say vague because a patent cannot be vague.".

Can a patent agent advise you on the general practice of law?

The downside is that patent agents can't advise you on the general practice of law, he said. Their focus -- for better or worse -- is narrow. Meaning your patent agent can't help you devise your entire strategy as it relates to intellectual property.

Can a patent agent give legal advice?

Unlike attorneys, patent agents are not capable of practicing law -- meaning they cannot give you any legal advice, such as advice on non-disclosure agreements, trademarks, patent licensing, and patent infringement. Put another way: They're not a one-stop shop.

Who warns inventors to be careful not to write a blank check?

Prince warns inventors to be careful not to write a blank check. Whether you decide to work with an attorney or an agent, make sure the practitioner understands your goals from the get-go. After all, the scope of what you're trying to accomplish will affect what you pay.