Patent Attorney and Founder
Hello and first off on behalf of the entire team here at bold patins i JD Hooven ur the CEO and managing partner would like to congratulate you for taking the next step in protecting and bringing to market your visionary idea secondly I want to explain our process and give you an idea as to what this investments upfront costs are going to be although I highly recommend that you watch this entire video in full feel free to click the timestamps below in the YouTube video description if you want to skip ahead later here are bold patents we believe in complete transparency and want you to have the necessary knowledge to make the most educated business decision for you now before I dive into the details I do want to bring up three points that we believe are important for you to be aware of number one this is an investment not a cost unlike paying for a new car a patent is something that holds tremendous value that often increases in value over time for 20 years you gain exclusive rights that invention you can license it sell it and use it as a competitive edge over your competitors and more for many of our inventors and their technology is the cornerstone of what is or will be their future business in this way it’s not a bet on a single gadget or device like the stock market it’s a bet on your business and a bet on yourself number two competitive advantage right it’s true the hallmark reason why people seek patents is so they can be the only player in the market it’s a monopoly no doubt there’s real power in that however I noticed that inventors gained an additional competitive advantage while pursuing the patent protection that’s just as powerful the educational experience that inventors undergo while learning the patent process boost their knowledge and understanding of the competition instead about their particular solution and helps them be better inventors so as you go down this road don’t forget that you’re actually going to be educating yourself a lot and putting yourself in situations you wouldn’t have thought possible you expanding your network and beating other business owners and investors inspirational individuals to help you move to that next level in addition you know you’re gonna be getting these skills knowledge and protecting and bringing to market your visionary idea you have no clue yet what exciting experience and knowledge you’re going to be able to gain your life will never be the same again we’re beyond thrilled to be the start of this journey with you number three your invention may be taken alright now I hate to make this a Debbie our scenario here but I think it’s important to note that your invention might have already been discovered and as I will share with you in a second this is a huge reason why we have everyone start off with a patentability search for all their new inventions we don’t want to waste your time and money trying to get the patent pending status when it’s obvious after our in-depth search that will make the most likely not pass but don’t worry this is the case you will still gain legal advice that will help you move forward with a trade secret patent protection some of their mechanism all right so now that I covered the basics let’s dive into the bold process and the typical costs associated with obtaining a patent a small legal note before I start the patent process is very complex and without doing a proper search it’s nearly impossible to give you an accurate answer however we do understand it’s important for you to be fully aware of what you are embarking on and so I’ll do my very best to explain this as in-depth as possible step 1 patent eligibility opinion typical cost is $249 the patent process typically starts with an understanding of whether the subject-matter of your invention is eligible for patenting and the most of you if you’re watching this video right now you’ve likely already had your patent eligibility opinions so this isn’t brand new to you there are four major patent-eligible subject matters apparatuses assemblies methods and compositions of matter now you’re mentioned falls outside of these areas the additional analysis may be necessary to determine whether your subject matter will be eligible for moving forward in the process after you’ve determined if your ideas patent eligible we move to the patentability search step two typical costs between two thousand five hundred and five thousand dollars takes us between four and six weeks to do a patent search is where the patent attorney team searches various databases across the world to determine whether the subject-matter of your invention has been published or isn’t known in the public this is also called prior art the patent attorney will start with a very high-level broad search and then dive into the deep specific areas to confirm the novelty of your invention so what makes an idea patentable well according to the patent statute any person who invents or discovers a new and useful process machine manufacturer or composition of matter or any new and useful improvement thereof they obtained a patent the invention must also be novel right this is sort of obvious it must be new the second is it must be non-obvious okay even if it is new it can’t be an obvious iteration or version of something already out there on the market and last but not least it must have utility now depending on how your patent eligibility assessment went your attorney may give giving you a search of the complexity level of low medium or high the complexity is determined based on the estimated amount of work and the time it will take for the attorney to conduct the research based on the experience with other clients so a low complexity invention think of a screwdriver right something very tangible cost at $2,500 medium complexity think of like a solar panel $3,750 or high complexity think software blockchain $5,000 as I mentioned before it takes us between four and six weeks for the patent attorney to conduct the full search and put a legal opinion down in a full report we will also sit down and have a full detailed conversation and help you understand a risk basis for what it is like to move forward the patent search is a pretty complicated and rigorous process that we truly don’t recommend that you do fully on your own in fact we won’t work with you unless you have started with a patent search it’s really the foundation for your invention the reason for this is we don’t want to waste the time and money chasing an idea that’s already been taken and as you will soon learn patents take two to four years on average to be granted the true value you’re getting here in the patentability search is not the search itself but it’s the legal opinion that comes with it it’s the trusted advice from legal counsel that’s been there and done that our tension to patent searches is paramount at our firm it’s our way of ensuring proper risk management for clients moving forward helping them save time and money all right so big step number three provisional patent applications cost between 5,000 and 10,000 dollars the X between 6 to 8 weeks to get done now assuming your patent search came in positive the attorneys recommendation will usually be to file a provisional patent application I will be discussing the other cases in a second a quick note the investment you made in the patent search gets credited toward your provisional patent application cost everything is a rolling investment when you work with us this means if you pay two thousand five hundred for your search and your provisional patent application is five thousand you only pay the difference and owe an additional two thousand five hundred for your provisional patent application now what is a provisional patent application you may ask I will think of a provisional as your informal application it gives you that pet and patent pending status that everyone’s looking for which is basically the ability to then free yourself to tell the world about your invention test the market talk to customers right in fact on September 16 2011 Barack Obama switched the u.s. patent system and signed the American Invents Act changing it from a first to invent to a first to file system and that law went into effect to March 16th to 2013 that makes it vital for you to file your provisional patent as soon as you’re ready to make action and take that next step to lock yourself in as the first inventor your provisional patent may or may not have the same complexity as the search complexity for the application will depend on the actual invention itself and how long it’s going to take us to articulate the invention in the specification now for your references the provisional patent application will take us between six to eight weeks and the cost is the following right low complexity invention five thousand medium complexity 7,500 and high complexity is $10,000 remember your patent search payment is applied to these so remember to subtract that number from the total I just gave you now before move to the third and final step to being a patent granted I want to share some other possible scenarios that could come out after your patent search now I couldn’t possibly share all of the different scenarios with you that your attorney may recommend but I want to share with you the most common outcomes other than simply filing a provisional application in some cases we’re going to recommend that you file a design patent which protects the look and the feel and the ornamentation of the product in fact we may recommend that you don’t file a utility patent this is because perhaps there’s already prior art that covers that same functionality but you have found a new way to show what the way it looks in the ornamentation design patent applications cost between three thousand five hundred and seven thousand five hundred depending on the complexity and usually takes us between six to eight weeks to get those done your attorney might also recommend a non-provisional patent application in some cases we do recommend that you skip the provisional step and go straight to the final application for some technology areas that are fast moving you need to get your rights as quickly as possible so this we will recommend you filed a non provisional patent application and get to the application stage as soon as possible also for those inventors that have already been through the patent process before a prototype their invention know exactly what their invention is gonna look like we do it sometimes recommend filing directly with a non provisional and skipping that provisional phase we will also want to talk with you about the international protection opportunity through the patent cooperation treaty or other vehicles that may be right for you step four non-provisional patent cost between 10,000 and 20,000 dollars and takes between 8 to 12 weeks to accomplish before we dive into discussing the investment associated with the non provisional I want to highlight a major point that inventors don’t usually take into consideration the fact that you don’t need to file a non-provisional patent application immediately after the provisional well if you want to get to patent granite status you will eventually need to but in some cases you may decide you don’t want to so after you file your provisional patent application you’ll have what’s called a patent pending status and you’ll have a full year to then file or decide not to file write the non provisional is your official application it’s also called a non provisional that’s what will go before the USPTO and get examined so we recommend at this point to start to promote your product as soon as the Provisionals file to raise money look to license your invention and get customer feedback it’s time to start living to your purpose and bringing to market your invention and seeing how the market responds really to make our process as risk-averse as possible ensuring you’re investing your money where you need to since you’re protected by the patent pending status of the provisional it’s your time to tell the world about your invention before you file the big kahuna the non provisional it’s important to get that customers feedback to confirm and validate your invention if during this period you have deemed your product be successful let’s move forward if we will reach out and help you finish your filing a non provisional patent the patent granted we will do so at about the nine or ten month mark to make sure we have enough time to draft and submit it before that year is up once again don’t forget we’re going to be crediting you the investment on the work you did on the search and the provisional toward the non provisional again the price is gonna range between ten thousand to twenty thousand dollars for the non provisional low-complexity at ten thousand medium complexity at fifteen thousand high complexity at twenty thousand so let’s do some simple math here for what the investment will be for the entire process if your provisional and search from the about a year ago was a total of five thousand dollars and your non provisional application is gonna be ten thousand you will only owe an additional five thousand dollars I gave you this number to help you understand the total investment up until this point now please don’t think that far out necessarily right we’re at the very beginning stages although for some of you that may seem like a big number during that year period when you have a patent application status you may come to realize the investment is well worth the reward and won’t even flinch at the investing more money at the patent granted status enough to sound cliche but if you don’t try you won’t know and your future self will probably regret it we truly do live only once alright the final step patent office actions now in many cases after you file your patent application the USPTO will come back with changes you need to make these are called patent office actions and as part of the process called patent prosecution because really it’s like a mini court case were you and your patent attorney are up against the examiner in the USPTO and trying to get your patent through the Patent Office patent applications get assigned it to USPTO patent examiner’s then they review research and try to find prior art just like we did in our search that would prove your invention to be not patentable if the examiners find anything wrong and they almost always do with the application form at the content or they find out some reason to reject it they will do so don’t be discouraged this is actually a good thing it means that we’re doing our job and advocating for you pushing the limits and getting you the most patent rights possible so a little back and forth is actually healthy however you should know that this advocacy is not free we typically charge between 1000 and $5,000 per office action depending on how difficult the rejection is and how aggressively we are to respond good things are worth fighting for right and your invention is one of them know that there is further investment needed after the non provisional filing but know that it’s customizable and you can adjust how we respond and how much you invest in that aggressive position if it’s gonna be more legal review more legal summary it’s gonna mean a little bit more investment now in summary thanks everyone for watching this video I hope this has properly educated you to make the best business decision possible for yourself I hope you can take what we have done and I want to tell you that I do take pride in telling you this straightforward transparent risk-averse process your idea is not stolen your investment is hedged you’ll get maximum protection for your invention other firms won’t give you this insight here at bold we are more than just a patent law firm we help you become a successful business owner in the most risk-averse way possible the total estimated cost an investment is fifteen thousand to forty thousand dollars in some cases once again please keep these things in mind before making your decision this is an investment not a cost the experience alone is worth it don’t worry about all these steps right now let’s take it one bold step at a time together