Patents have an undeserved reputation for being excessively expensive, with figures of hundreds of thousands of pounds often being quoted.
The truth is quite different, with the cost to obtain a granted UK patent normally being somewhere in the region of £1500 to £6000+VAT depending upon the complexity of the invention and the nature and extent of any objections raised during the examination phase.
Given that this investment could lead to a halving of corporation tax for profit relating to the patented technology during the life of the patent (up to twenty years) it can be a very worthwhile investment.
Furthermore, patent application costs are spread over several years as the application gradually progresses through the search and examination phases. In the UK it can take up to around five years for an application to be granted or refused.
Costs for obtaining patent protection in other territories vary, and are higher in those countries where a translation is required, but are typically in the region of £2000 to £5000 per territory.
We want you to know the likely cost of pursuing IP protection in advance of engaging our services, so you know where you stand.
Thus we often work to fixed quotations for patent application drafting and we provide all new clients with leaflets setting out a guide to the costs and procedure involved in seeking patent protection.