Our cost structure is already very competitive when compared with other firms. However, we also recognise that there are certain stages of the application process when significant cost savings can be of particular benefit to our clients.
One example is when filing a new patent application. Usually, it is not feasible to disclose an invention publicly before filing a patent application. It could destroy or affect the patentability of the invention. Therefore, it is usually not practicable to test the commercial viability of an invention before filing a patent application. In other words, you need to spend money before you know how worthwhile that investement will be. We therefore offer extremely competive costs for the initial part of the patent application process, to assist our clients to get their “foot in the door”, and to keep their options open. We refer to this as “effective pricing” – i.e. setting very attractive pricing when it really counts.
The same applies, for example, in relation to trade marks. It is highly prudent for businesses to apply to protect their trade marks around the time that they first start using the trade marks commercially. However, new businesses often do not have much money to spend at the start. Again, our trade mark cost structures are very attractive and competitive. This enables many of our clients to secure their trade mark protection without this costing an arm and a leg, so that they can spend their valuable resources on other important aspects of their new businesses.
In addition, while some firms bill almost everything on a time basis which is very open-ended, we prefer, as far as reasonably practicable, to give specific cost estimates for aspects of the work, such as filing new applications, and various steps along the way. We also let our clients know what steps they can take to assist us to keep the costs down. In cases where it is not possible to estimate the cost with accuracy beforehand, we will often cap the costs for certain aspects of the work, so that our clients can have some confidence going forward.
How are we able to set our costs at such a competitive level? Certainly not through cutting corners. Rather, it is by minimising our overheads, and passing the savings on to our clients.