A patent should always be considered by an inventor during the initial stages of their invention. Anyone who says an inventor does not need a patent in today’s market does not know the current marketplace. A patent is a right, granted by the United States to an inventor, to exclude others from making, using, selling, or importing an invention throughout the United States without the inventor’s consent. The inventor may license or sell the rights defined by the claims of the patent. An inventor can also use “patent pending” on their products and marketing materials after a patent application is filed.
Our fee structure is unique to us as we strive to tailor our services for each client individually. We adapt price standards that are capable of fluctuating for each client. Clients may retain us for one or all of the below steps/services.
We are happy to customize a proposal for yours during a consultation. Please see the below information.
WHAT MAKES US DIFFERENT
At Tsang & Associates, we treat each client like a well-formed partnership and involve you in every step of the process. When assisting in 501(c)(3) nonprofit organization formation, we work together with you until you are satisfied with our services. By the end of our partnership, our goal is not only to help you find success but also to help you become an expert in your own case.
CASE PROCESSING OVERVIEW
Step 1: Strategy Session for Patent
Step 2: Preparing and Filing the Patent Application
Step 3: Correspondence
Once the Patent application is received, the Office Action will request documents such as a written response convincing the examiner that your invention is worthy of a patent.
Step 4: Patent Issuance
If the patent applicant is successful in the correspondence stage of the patent process, then the patent application will issue as a patent. If the patent applicant is unsuccessful, then the inventor may abandon the patent application or appeal the decision of the examiner to an independent board for review as to whether the examiner is correct.
Step 5: Maintenance Fees
Why should I consider patenting my invention?
- Exclusive rights: Patents provide you with an exclusive right to prevent or stop others from commercially exploiting an invention for twenty years from the date of filing of the patent application.
- Return on investments: Having invested a considerable amount of money and time in developing innovative products, through exclusive patent rights, you may be able to establish yourself in the market as the pre-eminent player and to obtain higher returns on investments.
- Opportunity to license or sell the invention: If you choose not to exploit the patent yourself, you may sell it or license the commercialization of the patented invention to another enterprise, which could then be a source of income for your company.
- Increase in negotiating power: If your company is in the process of acquiring the rights to use the patents of another enterprise through a licensing contract, your patent portfolio will enhance your bargaining power. That is to say, your patents may prove to be of considerable interest to the enterprise with which you are negotiating, and you could enter into a cross-licensing arrangement where, simply put, your enterprise and the other agree to license respective patents to each other.
- Positive image for your enterprise: Business partners, investors and shareholders may perceive patent portfolios as a demonstration of the high level of expertise, specialization, and technological capacity within your company. This may prove useful for raising funds, finding business partners and raising your company’s market value.
- A patent gives you the right to stop others from copying, manufacturing, selling or importing your invention without your permission.
- You get protection for a pre-determined period, allowing you to keep competitors at bay.
- You can then use your invention yourself.
- Alternatively, you can license your patent for others to use it or you can sell it. This can provide an important source of revenue for your business. Indeed, some businesses exist solely to collect the royalties from a patent they have licensed – perhaps in combination with a registered design and trademark.
Frequently Asked Questions
What can be patented?
Utility patents are provided for a new, nonobvious and useful:
- Article of manufacture
- Composition of matter
- Improvement of any of the above
Note: In addition to utility patents, encompassing one of the categories above, patent protection is available for (1) ornamental design of an article of manufacture or (2) asexually reproduced plant varieties by design and plant patents.
How much does it cost to get a patent?
There are three basic fees for utility patents:
- The filing fee, which is non-refundable whether or not a patent is granted. (This is the cost to have your invention “examined” by the US Patent and Trademark Office – remember, you may or may not get a patent!)
- The issue fee (you pay this only if your application is allowed)
- Maintenance fees (paid at 3 1/2, 7 1/2, and 11 1/2 years after your patent is granted – these fees “maintain” your legal protection).
- Additional fees may be required.
You are strongly advised to check the current fee schedule before submitting your application.
Copyright vs. Patent?
Patents are often used in the manufacturing and scientific industries when there is an invention of a new process, machine, or design. Generally, a patent is an intellectual property right granted by the U.S. Patent and Trademark Office that, for a limited period of time, protects that invention and gives the owner the right to exclude others from making, using, offering for sale, selling, or importing the invention. Unlike patents, a copyright protects original works of authorship that are fixed in a tangible format.
SCHEDULE A SESSION
Call or email us to set up your 1-hour consultation. Easily pay the $250 consultation fee over the phone or through our email link. If you would like to have a quick chat with our team before setting up the consultation, feel free to use the calendar on the right to book your 10 minute call.
In addition to patent protection, we also specialize in other areas of corporate counsel. At Tsang & Associates, we are personally invested in your company and serve as a coach to your business. We advise your company on how to be the best, aid with legal services, and take care of logistics. As your business coach, we want your company to excel and experience growth. Check out our comprehensive services down below.
LEGAL REPRESENTATION FOR YOUR BUSINESS
We will work directly for your business advising on legal matters and performing legal research. Paid for only upon demand to provide all legal adice to your company from day-to-day activities to risk mitigation.
Build the right legal foundation
Raise and protect your capital to propel your company
Scale your business to the next level
HOW IT WORKS
A client trust will be opened and maintained solely for your business needs. Your business will qualify for service fee reductions when maintaining a $5,000 refundable deposit in your Escrow account.
NO HIDDEN FEES
There are no hidden costs or fees, You will maintain a yearly $5,000 refundable deposit and gain access to premium and exclusive services. Other firms charge monthly fees, however, at our firm there are no hidden fees
LET US DO THE WORK
Our legal expertise allows you to focus on building and running a successful company. We do the legal heavy lifting and our years of experience help you navigate strategically the important legal and business decisions.
WE ARE DIFFERENT
We’re changing how legal services are provided. Our corporate counsel is designed to provide you with premium and exclusive resources at an affordable price.
Traditional law firms will charge you extra fees for drafting contracts or employee offer letters. At Tsang’s law, we are there for your business with premium services and no hidden fees.