Suppose you are the owner of a corporation. In that case, you may place the utmost importance on the tangible assets that your company possesses, such as its machinery, its inventory, and any buildings that it owns. However, unlike big companies, intellectual property can be valuable as tangible assets for small businesses.
Everything that differentiates your business’ products or services from others in a commercial setting is entitled to protection under trademark law. Consequently, if you want to ensure that your trademark is legitimate and does not cause any confusion with other pre-existing brands or corporations, you should consider working with a trademark lawyer.
A straightforward trademarking procedure can protect a company’s name from unauthorized usage by its competitors. But the price of securing trademarks for a corporation is a concern for some entrepreneurs. We’ll discuss the cost of applying for a trademark for your business with this guide.
Costs to Consider Before Filing a Trademark Application
The initial financial investment in filing a trademark application will go toward an extensive investigation of other trademarks already filed for and registered. Utilizing the Trademark Electronic Search System provided by the USPTO enables you to search without incurring fees.
It is also a good idea to retain the services of an attorney to search on your behalf. This way, you won’t have to worry about missing a trademark that is too similar to others. If you wish to search globally or domestically, the cost can range from a few hundred dollars to a few thousand dollars.
Various Trademark Application Fees
The US Patent and Trademark Office has two initial application forms: TEAS Plus and TEAS Standard, each of which has different fees that could help in trademarking your business.
The term “basic” application refers to the TEAS standard application. It costs $275 per class to submit an initial application, and this fee applies to both paper and electronic filing.
As an alternative, the most cost-effective and straightforward program is TEAS Plus. In this option, you must apply in its entirety, pay all applicable filing fees when the application is submitted, consent to submit certain documents online, and receive all correspondence through email.
A quicker level of service is yet another advantage offered by the TEAS Plus application. The initial application fee for each class is $225, whether submitted electronically or via paper.
Extra fees for applying for a trademark
When submitting your drawing for trademarking cost, you need to provide a “clear drawing” of the mark, whether the logo alone or a combination of the name and the logo. Depending on the design’s quality, a trademark’s price could range anywhere from $500 to several thousand dollars.
If you apply for a trademark before using it, you will have to file a declaration later when you begin employing the mark. Electronically filing this declaration costs $100, whereas filing a paper declaration costs $200. Furthermore, trademark renewal applications cost $300 per class.
A Trademark’s Ongoing Maintenance Costs
Using a trademark isn’t a one-and-done process. Trademarks must be maintained and reported on to keep their legal protection. The US Patent and Brand Office refers to “maintaining your trademark.” A fee is associated with these reports, and you must file each type of product or service included in the registration independently.
To ensure that it will not challenge your trademark in the future, you can file a Declaration of Incontestability. This declaration makes it difficult for anyone to contest or deny your right to use a trademark.
The Fees Associated with Hiring a Trademark Attorney
A trademark application can be refused for several reasons due to the complexities of the trademark application procedure. To trademark your company’s logo, you should hire an attorney to help you through the process.
Several individuals decide to retain legal representation to ensure that the process will be conducted in a way that will not call for subsequent adjustments. You will be charged $125 to resubmit an application, for instance, if it is either erroneous or missing required information and is therefore deemed incomplete.
According to one study, businesses preparing their brands compared to trademarks produced by a trademark lawyer had a 50% lower chance of being granted. As a result, their time and money are usually well spent. Regarding the presentation of drawings and their associated claims in an application, attorneys have a distinct advantage over their competitors.
Do Trademark Attorneys Charge a Fee for Filing an Application?
Lawyers specializing in intellectual property might choose various fee structures for their services. In most cases, the attorney will discuss the different fee structures with the client after assessing the nature of the application.
Fees Charged Per Hour for Filing Trademark Applications
Patent and trademark attorneys frequently charge their clients by the hour. Attorneys keep track of time spent on a case or project and deliver their hourly rate to their clients. After then, the client will be charged according to the number of hours the lawyer spends on the case.
For the most part, attorneys use this method to charge their clients. The attorney’s fees will be reimbursed regardless of how long it takes to complete the project. Understandably, clients may be wary of hourly fees because they have no idea how much their legal services will cost until the job is done.
The market data collected by ContractsCounsel indicates that the average hourly charge for a lawyer specializing in intellectual property and trademark law runs from $250 to $400 per hour.
Trademark Application’s Flat Free Rates
Another option for charging for legal services is to use a flat-rate billing system. A trademark application, for example, might be drafted using flat fee rates, which are becoming increasingly popular.
It is common for lawyers to charge a flat fee for a project like completing and submitting a trademark application. If the client accepts, the attorney will typically receive payment upfront.
Clients benefit from knowing how much a legal job will cost at the outset through flat fee rates, which must be communicated to the client. Before settling on a payment plan, these are the kinds of issues that need to be explored with your lawyer. How much more will I have to pay to file a trademark application? It’s important to know if a denied application requires a resubmission.
Data from the marketplace suggests that the typical flat-fee pricing for a trademark application in all states is between $750 and $1,500, according to Contracts Counsel.