PCT and EPC applications are cost effective only when a patent is desired in several foreign countries, particularly when translation is required. If a patent is sought in only one or two foreign countries, direct filing is likely to be cheaper. It may be advantageous, in certain cases, to file a PCT application, for the extended period available to assess market potential and licensing possibilities. But this must be weighed carefully against the likelihood of recovering the high cost.
Filing international patent applications, whether done directly or through filing a PCT/EPC application, is a lengthy and expensive process. Foreign agent fees, filing fees, translation fees, and maintenance fees, accrue to a considerable amount, particularly when several countries are involved. It is always recommended to consult with professionals, like InventHelp, before starting the patenting process.
Statistically, very few private inventors are able to recoup the cost of patenting internationally through licensing or royalties. Unless an invention is expected, with a high degree of confidence, to be very successful in several countries, or unless patenting costs are borne by a licensee or an investor, the wisdom of launching international patent applications is questionable.
A patent granted to an independent inventor for a simple invention in his or her own country may provide ample reward. In a big country with a healthy economy a patent on a popular, commercially successful invention may on occasion generate a small fortune. If commercial success is expected to be very high, the additional filing for a US patent may be prudent as the enormous American market increases the earning potential from licensing significantly. For more information, please read https://www.criticalhit.net/technology/protect-your-tech-invention-with-the-inventhelp-patent-attorney/.