how to get a pat without spending a lot
of money so I got a question for one of
my youtube viewers love you guys
John Mulla we’re running to say I want
to start with a patent that means in the
higher part lawyer it’s going to be
expensive is there a way to apply for a
patent in the less expensive way so let
me give you some options okay if you’re
gonna if you’re gonna you know you’re
worried about money let me give you some
options your first option is you could
do it yourself and if you’re given do it
yourself you’re you know you can go for
full patent your fees alone are gonna be
just under a thousand dollars okay those
are just fees to the government the
other option is to go provisional patent
and that fee is under a hundred bucks
and what that allows you to do is be
patent pending for a year but at the end
of the year you have to go and file your
full pack so basically gives you a year
to figure out if you can commercialize
it or not so the upside is a cost me a
lot of money right hundred bucks for a
provisional patent thousand bucks for a
full package the danger is you have to
do it properly right it’s like anything
else you know whatever your business is
you know if you are an electrician and
somebody says hey I’m going to try doing
the electrical wiring myself it’s
possible but you’re probably make a lot
of mistakes and so is it worth try to do
it yourself
some people have gone down with
themselves the ones we’ve done it
effectively you need to invest really a
lot of time to educate yourself and how
to do a proper path because at the end
of the day the PAC’s was going to
protect you right when you go out and
you you know sell your product sell your
company the patent is going to be what
saves you you want to get acquired and
you have important technology they’re
gonna look for way around the pack right
they don’t want to spend millions of
dollars acquiring your business they
want to do it for cheaper so the patent
is the only thing that protects you and
if your patent is not solid because you
made mistake
in it then then you’re going to miss out
on your big deal right so that’s that’s
the risk but you can’t do it yourself by
spending 100 bucks provision or thousand
for the full pack if you go with a
lawyer it’s going to cost you depends on
the lawyer five to ten thousand dollars
in legal fees to get your packet done
the second option this is something that
I looked into it I had my first business
was part rate up with a lawyer and this
is a little more creative and it’s
something that that no law firm will
typically promote but the idea is you
give them either an equity stake in your
business or a piece of any money that’s
made from the pack and they’ll only do
this if they love the idea if they think
that it’s going to make money and
ideally what I love using a patent
lawyer is I want my lawyer to help give
me connections right it’s like you don’t
bring on an angel investor just to try
to just to give you money you want an
angel is going to give you connections
and ideas and resources right if I’m
hiring a lawyer I don’t want my lawyer
just to give me legal advice I want them
to work at my business and give me some
help right so a lot of the patent
lawyers if you look at a bigger company
they may have clients who could use your
pack right who could be potential
clients or potential acquisition targets
right they may look at your business say
hey this is such a great idea I want to
buy this company out and so that’s an
advantage of working with a lawyer to
help you get there so if the lawyer
really likes the idea really believes in
you really sees potential and
potentially also has some clients within
the firm who might be good fits for you
then they might come in on a win-win
basis and not take any fees upfront I’ve
structured a deal like that with my
business but again it’s something that
no lawyer typically pays upfront because
otherwise everyone’s going to be rich
maybe
so those are options okay thousand
dollars did the factor self $100 to the
provisional patent yourself and advised
you a year to go out and commercialize
and then go get the full file number
three is go work with a lawyer or cost
you five to ten thousand dollars and
number four is try to partner up with a
patent lawyer who loves with your
jewelry can make some contacts for you
and gets paid whenever you move it from
the packet Willy
that’s my tips those you watch it you
like the video you can subscribe to the
channel I love my subscribers thank you
for joining you can support me if I
click on a link in the description and
leave a comment below let me know what
you think if you had challenges with
patents and you put it below you want to
share your experience share it below or
you have different questions for me to
put it below – a love see those come in
your comments are awesome and they make
my day every day so thank you I’ll see
of money so I got a question for one of
my youtube viewers love you guys
John Mulla we’re running to say I want
to start with a patent that means in the
higher part lawyer it’s going to be
expensive is there a way to apply for a
patent in the less expensive way so let
me give you some options okay if you’re
gonna if you’re gonna you know you’re
worried about money let me give you some
options your first option is you could
do it yourself and if you’re given do it
yourself you’re you know you can go for
full patent your fees alone are gonna be
just under a thousand dollars okay those
are just fees to the government the
other option is to go provisional patent
and that fee is under a hundred bucks
and what that allows you to do is be
patent pending for a year but at the end
of the year you have to go and file your
full pack so basically gives you a year
to figure out if you can commercialize
it or not so the upside is a cost me a
lot of money right hundred bucks for a
provisional patent thousand bucks for a
full package the danger is you have to
do it properly right it’s like anything
else you know whatever your business is
you know if you are an electrician and
somebody says hey I’m going to try doing
the electrical wiring myself it’s
possible but you’re probably make a lot
of mistakes and so is it worth try to do
it yourself
some people have gone down with
themselves the ones we’ve done it
effectively you need to invest really a
lot of time to educate yourself and how
to do a proper path because at the end
of the day the PAC’s was going to
protect you right when you go out and
you you know sell your product sell your
company the patent is going to be what
saves you you want to get acquired and
you have important technology they’re
gonna look for way around the pack right
they don’t want to spend millions of
dollars acquiring your business they
want to do it for cheaper so the patent
is the only thing that protects you and
if your patent is not solid because you
made mistake
in it then then you’re going to miss out
on your big deal right so that’s that’s
the risk but you can’t do it yourself by
spending 100 bucks provision or thousand
for the full pack if you go with a
lawyer it’s going to cost you depends on
the lawyer five to ten thousand dollars
in legal fees to get your packet done
the second option this is something that
I looked into it I had my first business
was part rate up with a lawyer and this
is a little more creative and it’s
something that that no law firm will
typically promote but the idea is you
give them either an equity stake in your
business or a piece of any money that’s
made from the pack and they’ll only do
this if they love the idea if they think
that it’s going to make money and
ideally what I love using a patent
lawyer is I want my lawyer to help give
me connections right it’s like you don’t
bring on an angel investor just to try
to just to give you money you want an
angel is going to give you connections
and ideas and resources right if I’m
hiring a lawyer I don’t want my lawyer
just to give me legal advice I want them
to work at my business and give me some
help right so a lot of the patent
lawyers if you look at a bigger company
they may have clients who could use your
pack right who could be potential
clients or potential acquisition targets
right they may look at your business say
hey this is such a great idea I want to
buy this company out and so that’s an
advantage of working with a lawyer to
help you get there so if the lawyer
really likes the idea really believes in
you really sees potential and
potentially also has some clients within
the firm who might be good fits for you
then they might come in on a win-win
basis and not take any fees upfront I’ve
structured a deal like that with my
business but again it’s something that
no lawyer typically pays upfront because
otherwise everyone’s going to be rich
maybe
so those are options okay thousand
dollars did the factor self $100 to the
provisional patent yourself and advised
you a year to go out and commercialize
and then go get the full file number
three is go work with a lawyer or cost
you five to ten thousand dollars and
number four is try to partner up with a
patent lawyer who loves with your
jewelry can make some contacts for you
and gets paid whenever you move it from
the packet Willy
that’s my tips those you watch it you
like the video you can subscribe to the
channel I love my subscribers thank you
for joining you can support me if I
click on a link in the description and
leave a comment below let me know what
you think if you had challenges with
patents and you put it below you want to
share your experience share it below or
you have different questions for me to
put it below – a love see those come in
your comments are awesome and they make
my day every day so thank you I’ll see
Please follow and like us: