what are the billing rates for a patent attorney

I have worked with dozens of patent attorneys from across the country and here are my observations about patent attorney fees:

• Experienced patent attorney (7+ years) - billing rate $300-$550 per hour
• Junior patent attorney (3+ years) - billing rate $200 - $350 per hour
• New patent attorney or individual (not working for a law firm) - billing rate $150-$250 per hour

Full Answer

How much does a patent lawyer cost?

Jun 24, 2020 · Location: Experienced patent attorneys outside major cities are between $275 to $400 per hour, while attorneys in major cities are between $400 to $800+ per hour. The most expensive areas are Boston and New York (averaging +$75 more per hour) and California (averaging +$50 more per hour).

What is a flat rate patent lawyer?

Jun 07, 2013 · I have worked with dozens of patent attorneys from across the country and here are my observations about patent attorney fees: Experienced patent attorney (7+ years) - billing rate $300-$550 per hour Junior patent attorney (3+ years) - billing rate $200 - $350 per hour New patent attorney or ...

How much does it cost to file a patent in California?

Aug 26, 2020 · Patent agents are not qualified to practice law, but they are trained to do all of the same work in relation to filing a patent with the USPTO. They can’t litigate in federal courts, however. Agents are "substantially less expensive" than attorneys, charging on average $100 to $200 an hour compared with attorneys’ fees of $300 to $400 an hour.

When do you get billed for patent work?

If you are looking for experienced patent attorneys at a reputable firm you should anticipate hourly rates to be somewhere between $275 to $400 per hour in …

Why are patent lawyers so expensive?

Since most of the patents are filed by companies, most patent attorneys do work for companies and therefore are not very price sensitive and can charge these high rates.

What is the average cost of the patent process?

The average cost to patent an idea ranges from $5,000 to $16,000+ depending on how simple or complex your invention is. An extremely simple design such as a paper clip typically costs $5,000 to $7,000 to patent, whereas a highly complex invention such as software or satellite technologies runs $14,000 to $16,000+.

Where do patent attorneys make the most money?

Patent Attorneys make the most in San Francisco, CA at $215,737, averaging total compensation 46% greater than the US average.

What is the average cost prepare and file a patent?

A patent attorney will usually charge between $8,000 and $10,000 for a patent application, but the cost can be higher. In most cases, you should budget between $15,000 and $20,000 to complete the patenting process for your invention.

What are the three basic fees for utility patents?

Simplified USPTO patent filing fees for a utility patent applicationType of feeLarge EntitySmall EntityBasic filing fee – Utility$300$75Utility Search Fee$660$330Utility Examination Fee$760$380Independent claims (above 3)$460$2302 more rows•Mar 26, 2018

How much does it cost to maintain a patent?

The full cost of obtaining and maintaining a U.S. patent over 20 years is in the range of $20,000 to $60,000. This sum is influenced by the type of technology being patented; the number of claims and drawings included in the application; the number and nature of rejections from USPTO; filing fees, etc.

What is a top patent attorney?

Top patent law firms are legal firms that exist specifically to handle such matters as litigation and transactional and advisory matters related to patents and are considered to be the highest in rank regarding quality.Oct 30, 2020

What type of lawyer makes the most money?

Types Of Lawyers That Make The Most MoneyMedical Lawyers – Average $138,431. Medical lawyers make one of the highest median wages in the legal field. ... Intellectual Property Attorneys – Average $128,913. ... Trial Attorneys – Average $97,158. ... Tax Attorneys – Average $101,204. ... Corporate Lawyers – $116,361.Dec 18, 2020

What is the highest paying lawyer?

Highest paid lawyers: salary by practice areaPatent attorney: $180,000.Intellectual property (IP) attorney: $162,000.Trial attorneys: $134,000.Tax attorney (tax law): $122,000.Corporate lawyer: $115,000.Employment lawyer: $87,000.Real Estate attorney: $86,000.Divorce attorney: $84,000.More items...•Dec 14, 2021

Why do patents cost so much?

What you get for what you pay can be enormously valuable and that is another reason why patents have become more expensive to obtain. Because patents are valuable to have and expensive to infringe there will always be those who seek to get around your rights.May 7, 2016

How can I get a free patent?

The Patent Pro Bono Program attempts to match inventors with registered patent agents or patent attorneys. These practitioners volunteer their time without charging the inventor. However, the inventor still must pay all fees that are required by the USPTO; these cannot be paid by the practitioner.Mar 1, 2018

Can you patent an idea without a prototype?

Many inventors wonder if they need a prototype prior to patenting an invention. The simple answer is “no'. A prototype is not required prior to filing a patent application with the U.S. Patent Office. While prototypes can be valuable in developing your invention, they can also be costly.

Patent attorneys versus patent agents

Patent agents are not qualified to practice law, but they are trained to do all of the same work in relation to filing a patent with the USPTO. The...

Attorney qualifications

A patent attorney must be admitted both to the state bar and the patent bar, which is the USPTO registration exam. By passing the exam, attorneys p...

Specializations

Some patent law firms specialize in particular industries or types of inventions. Ascenda Law Group in San Francisco works primarily with technol...

Attorney’s fees

In general, most attorneys charge by the hour. However, some patent law firms charge set fees for each patent-related service and charge an hourly...

Managing costs

Many attorneys offer a free initial consultation to answer clients’ questions about the process of filing a patent and what costs can be expected....

Why are patent attorneys so expensive?

I am still shocked by the billing rates of some of the patent attorneys we work with. Quite frankly I don't think anyone's time is valuable enough to pay them $500 per hour (but that's just me). You have to remember that most patents are filed by corporations.

The Flat Fee or Fixed Fee Solution for Patents

Many small patent law firms and individual patent attorneys and agents have moved to a flat or fixed fee arrangement for patents. Inventor's like this because they know exactly what they will be expected to pay. Attorney's and agent generally don't like this type of fee structure because it puts a lot of risk on them.

How much does an attorney charge for patents?

Attorney’s rates can vary by specialization. For example, the Concept Law Group in Fort Lauderdale, Florida, has a schedule of fees based on the type of invention and its complexity: 1 Drafting a nonprovisional patent application for an electrical invention: $5,500–$8,500 2 Drafting a nonprovisional patent application for a mechanical invention: $5,500–$7,500 3 Drafting a nonprovisional patent application for a complex mechanical, electrical, or internet-related business method or other invention: $7,000–$12,000

How long does a patent consultation last?

This consultation may last only 15 minutes, however. To manage costs afterward, people should come to each meeting fully prepared to discuss the idea for the patent.

What is the USPTO exam?

A patent attorney must be admitted both to the state bar and the patent bar, which is the USPTO registration exam. By passing the exam, attorneys prove that they understand the USPTO’s policies and procedures and are allowed to practice patent law.

What is the best way to keep costs to a minimum?

Some attorneys offer startup packages to new companies, which can help save on costs. Otherwise, working with a patent agent is the best way to keep costs to a minimum.

Do attorneys charge hourly fees?

Attorney’s fees. In general, most attorneys charge by the hour. However, some patent law firms charge set fees for each patent-related service and charge an hourly fee for additional work. Such fees don’t usually include the fees charged by the USPTO to file a patent.

Can a patent agent litigate?

Patent agents are not qualified to practice law, but they are trained to do all of the same work in relation to filing a patent with the USPTO. They can’t litigate in federal courts, however. Agents are "substantially less expensive" than attorneys, charging on average $100 to $200 an hour compared with attorneys’ fees of $300 to $400 an hour.

Who is Gene Quinn?

Gene Quinn is a Patent Attorney and Editor and President & CEO of IPWatchdog, Inc.. Gene founded IPWatchdog.com in 1999. Gene is also a principal lecturer in the PLI Patent Bar Review Course and Of Counsel to the law firm of Berenato & White, LLC. Gene’s specialty is in the area of strategic patent consulting, patent application drafting ...

Do patent attorneys charge hourly?

Increasingly, patent attorneys are charging on a flat fee or project basis rather than on an hourly basis. Having said that, even with a flat or project fee, the amount quoted will in one way or another reflect the amount of time the attorney will spend on the project.

What is the risk of IP attorneys?

The risk for IP attorneys in providing flat rates, particularly for patent prosecution, is that the amount of work may greatly exceed the attorney’s initial estimate. To be fair to both the client and the attorney, any offer of fixed fees should come with a clearly defined scope of work.

Do you have to honor your estimate?

If you decide to offer flat rates, you must honor your estimates even if it means eating up a bit of extra time (to a reasonable degree). That is why a clearly defined scope of work is so helpful. If you really have to exceed your initial quote, point out how the scope of work has substantially increased from the original scope.

Should I hire an attorney for a patent?

If you are seeking the services of a patent attorney or patent agent for the preparation of a patent application, you should consider seeking a fixed fee rather than hourly rate. The latter can be "deceiving" as you probably are more interested in the final cost to you rather than the cost per hour...

Is a patent attorney negotiable?

Fees of both Patent Agents and Patent Attorneys are always negotiable.# N#The real issue is the task you are asking the Agent or Attorney to accomplish.#N#Simple inventions most likely solve simple problems that in all probability have...

Is there an authoritative source for intellectual property?

As many have said before, there is no absolutely authoritative source for this information. However, there are good published estimates. For example, the American Intellectual Property Law Association (AIPLA) publishes an economic survey of intellectual property attorneys every year that address these kinds of questions.

What can paralegals bill for?

Paralegals take on a wide range of roles and responsibilities on behalf of lawyers. But—just as with attorneys—not everything that paralegals do is billable. In general, paralegals can only bill for substantive legal tasks.

How do paralegals bill their time?

Paralegals can bill for their substantive legal work similarly to attorneys, but typically at lower hourly rates than lawyers. In fact, most paralegals bill hourly and directly to clients.

What is the average paralegal hourly rate in 2021?

Paralegals are not lawyers. But experienced and qualified paralegals can complete substantive legal work on behalf of a supervising attorney at a much lower cost. The average paralegal hourly rates are lower than lawyers’ hourly rates. But how much lower?

Paralegal billing tips and best practices

Law firms usually do their best to ensure that their overall law firm billing process is efficient and accurate. Similarly, firm staff also consider the ethical and procedural best practices of paralegal billing. Keep the following paralegal billing tips in mind:

Seamless paralegal billing makes a difference

Hiring a paralegal can bring numerous benefits to a law firm’s productivity and efficiency. By knowing what legal tasks paralegals can bill, law firms have more opportunities to increase their law firm profits.