Webinar April 17, 2020
This is presented by Adriana Ieraci on April 17, 2020 Webinar. You can find the presentation deck and Q&A in this post.
Q1: How much on avg do patents cost?
Preliminary filings can cost up to $12k for the patent drafting and fees, but you should check with your legal counsel. Some offer reduced rates by enabling you to draft and build your application yourself. It takes years to get granted and then enforcement is the real expense.
Q2: How long does the patent application process take?
Depending on your strategy, what jurisdictions you need protection in and the field of your invention, the process can take up to 5 years or more before you can say your invention is “patented”. If your goal is “value” creation, working with your team and legal counsel you will identify steps in the process that serve as value milestones.
Q3: How much would the enforcement cost on avg?
It depends, here too there are many stages including identifying infringers, notification, follow-up and then possibly legal action. As a general rule you should expect enforcement is in the range of hundreds of thousands of dollars while actually getting a patent application granted is in the tens of thousands.
Founder and CEO of Conveyor Built, U of T Professor
Adriana Ieraci is the founder and CEO of Conveyor Built, a product and service design firm that uses human-centred design to develop new product and service ideas using emerging technologies such as artificial intelligence and robotics. She is currently leading the research and development of a wearable medical device to prevent muscle loss due to inactivity during hospital stays. Ms. Ieraci has worked with startups and research institutions developing commercialization strategy, business models, service and experience designs. She is a human-centred design, service design and technology entrepreneurship lecturer at the Faculty of Medicine, and the Faculty of Information, University of Toronto. Adriana’s passion for technological literacy and open innovation inspired her to start the GYBO Robotics Network, a network of over 850 roboticists and robot enthusiasts in southern Ontario. She is a member of the board of the Parametric Human Project. Adriana has a Masters of Engineering from the University of Toronto.
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