Virtually Everybody Should “Virtually Mark”
We’ve all seen them. Those old-timey looking patent stamps, branded on clever products.
Why do companies do this? Because a patent number, stamped in bold letters, looks impressive? Does touting patent coverage as a badge of honor (or, at least, unique utility or design), help to sell the product?
Yes, and Yes! Patent marking increases the perceived quality and value proposition of a product tremendously, and Products that are marked as patented sell more than unpatented products.
But these reasons, which we all naturally get, are not even the main reason companies MUST mark their patented goods.
IP Fees Decrease!
In a surprise holiday gift for innovators, the United States has made major cuts to its intellectual property fees, reducing it’s take from small innovators, called “small entities” and “micro-entities.” This essentially means that individual inventors and most businesses with fewer than 500 employees will now be paying much less for patent applications in the United States in 2023!
For example, U.S. filing fees for new Patent Applications are now at a 60% discount for Small Entities and at an 80% discount for Micro Entities, in comparison to the undiscounted rates.
It is an excellent time to file a patent application on that genius idea or design, and protect your rights to your business income from innovation.