By Mrigank Mishra
If intellectual property (IP) was a rock band, then a patent would definitely be the lead singer. This is not to say they are better than other forms of IP, just the face of it, and an important one if applicable to your IP. An investor is more likely to be impressed with an IP portfolio with patents than without.
But it is a hard application to both file and be granted, requiring in-depth research and sometimes years before the US Patent and Trademark Organization (USPTO) actually reaches a decision. Considering the amount of work that goes into the process, it is not surprising the cost of filing a patent application is also comparatively higher than other forms of IP rights. Presently the cost is about $1,600. Compared to the $35 for a copyright, around $500–$1,000 for a trademark, and nothing at all for trade secrets (they are not registered), you can see the difference. (more…)