HIRING A SERVICE PROVIDER

Hiring a reputable service provider is the most important decision you can make during the invention process. Because of the inherent complexity of patenting your invention, you will rely mostly upon your patent attorney or patent agent during the patenting process for good advice to avoid making costly mistakes.

A common factor between all service providers is the fees they charge. The fees a service provider charges are only a factor to consider. Remember what John Ruskin (1819-1900) said:

“It is unwise to pay too much, but it is worse to pay too little. When you pay too much, you lose a little money – that is all. When you pay too little, you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot – it cannot be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”

This is extremely true when working with both patent attorneys and invention marketing companies. You do not want the “bargain basement” patent attorney, but you also do not want the patent attorney who’s law firm has “golden doors.” As a general rule, you will usually get more “bang for your buck” if you select a service provider generally priced in the middle. If you must error, you are strongly advised to error on the high side to avoid losing all of your patent rights.

Most reputable patent attorneys charge between $3,000 to $8,000 for a well-drafted patent application including the drawings and filing fee. Anything less than $3,000 should be scrutinized.

Some invention marketing companies go on a percentage, hence there is no concern. However, if an invention marketing company does charge but it is only $10/hour, you should probably seek assistance elsewhere. A reputable invention marketing company is typically capable of charging between $30 to $150 per hour for their services.

Federal Trade Commission (FTC) Consumer Tips

You may write or call for a free FTC brochure:

Invention Promotion Firms
FTC’s Public Reference Branch, Room 130
6th Street & Pennsylvania Avenue, N.W.
Washington, D.C. 20580
Telephone Orders: (202) 326-2222
www.ftc.gov

LEGAL DISCLAIMER: This web site provides general information only, not legal advice. You should not act upon this information without independent legal counsel. You must read and agree to the Terms of Service before viewing this web site. The NIFC is not associated with any Federal or State government agency. If you have been harmed by an invention marketing company or patent attorney, you should immediately seek the legal assistance of a reputable attorney licensed in your state. Michael S. Neustel is licensed to practice law only in North Dakota and in the United States Patent & Trademark Office. Michael S. Neustel is the owner of Neustel Law Offices, LTD and Neustel Software, Inc. Statements made in this web site are merely opinions of the National Inventor Fraud Center, Inc. and should not be interpreted as factual. Neither Michael S. Neustel nor the NIFC market inventions, provide market analyses or provide marketability analyses for inventors. You are strongly encouraged to investigate any company or law firm you plan to work with and do not rely solely upon this web site when selecting a company to work with. Only you can determine if the companies listed on this web site are reputable or not.