As an entrepreneur, you like to know where you stand, especially when it comes to something as important as a patent application. But in practice, most patent attorneys work on an hourly rate basis. You pay for the time they spend on your case, not necessarily for the result. This traditional model often works in favor of the patent attorney, not necessarily in favor of an entrepreneur.
Intellectual Property
In a series of blog posts, Marco Coolen provides insight into his work as a Dutch and European patent attorney at AOMB. The common thread is paying attention to intellectual property and acquiring the best possible negotiating position.
Let’s face it: as a business owner, you don’t want ambiguity about cost or processes. You want to know that your investment will lead to a patent, without wasting unnecessary time on hours that contribute nothing to the end goal. That is why I believe it is time for a change in how we think about the cost structure for patent applications. It is time for a model focused on efficiency, with clear goals and fixed fees.
Benefits of fixed fees
With fixed fees, you know exactly where you stand in advance. There are no surprises afterward, and there are no endless invoices that keep mounting. This provides peace of mind and clarity, essential for good planning and budgeting. You can use your resources effectively because you know the costs in advance.
Think about it: if you know exactly how much a patent application will cost, you can reserve that amount in your budget. You won’t stress about additional costs that suddenly pop up, and you can focus your energy on what matters: the quality of your patent application and protecting your innovation.
Efficiency and transparency
A fixed-fee model also forces the patent attorney to work efficiently. There is no incentive to put in extra hours, which works in your favor. This means faster and more focused work on your patent application. And that’s exactly what you want as an entrepreneur: quick results without sacrificing quality.
The transparency of a fixed fee model is also a big plus. You get a clear overview of what to expect in terms of costs, but also in terms of process. What will be done, when and why? This provides a better understanding of the value you get for your money.
As I sometimes say: surprises are perfect for a birthday present, not when it’s about your costs. You don’t want surprises when it comes to your expenses, especially with something as crucial as a patent. Predictability is key. It allows you as an entrepreneur to focus on what really matters: building and growing your business, with the assurance that your innovations are well protected.
Time for change
It’s time to change the standard patent application quotes. Fixed fees offer much better value for money for entrepreneurs. They give you the security and peace of mind you need to focus fully on your business and innovation.
So the next time you hire a patent attorney, ask about the possibility of fixed fees. It can save you not only a lot of money but also a lot of headaches. Choose predictability, focus on efficiency, and make sure that every euro you spend contributes to the success of your business. Because at the end of the day, you don’t want to pay for hours, you want to see results.
