How to Reduce a Trademark Registration Fees by 75% with SME Fund 2024 Grant

Introduction

Many businesses, when starting out, overlook trademark registration, which is a valuable intangible asset that can be included in the company’s assets, but only if the trademark is registered.  The fees for filing a trademark are significantly high, so in this article, I’ll show you how to reduce the cost of trademark registration by 75% through a new program called SME FUND 2024 Grant.

SME FUND 2024 Program

The EU has started the 2024 Ideas Powered for Business SME Fund with EUIPO and the European Commission. It gives vouchers for intellectual property to small and medium-sized businesses in the EU. Last year, over 35,000 SMEs applied for the fund, making it a big success.   Grants are available on a first-come, first-served basis throughout 2024 until all available funds have been exhausted.

The SME Fund 2024 is a program for small and medium businesses to safeguard their intellectual property rights. Its aim is to cut trademark registration fees by 75%. If approved for this program, applicants can subtract up to 75% of their costs paid to EUIPO.  You can apply for this grant remotely and online.

Who qualifies for the SME Fund Program?

The program is designed for SME businesses registered within the EU.    Micro, small, and medium-sized enterprises (SMEs) are businesses with fewer than 250 employees and annual sales under 50 million euros, or annual assets less than 43 million euros.  Foundations, associations, and universities are eligible to apply for an SME FUND 2024 grant if they engage in economic activities.

How to Apply for a SME FUND 2024 Grant?

Follow below instructions to simply apply for a grant from the EU.

1. Register an account here and submit the application form.
2. Before you apply, prepare the following documents:

• VAT certificate or TIN Number Confirmation
• Bank Statement in PDF belonging to the company

3. Wait for up to 15 working days for approval.
4. Receive an electronic decision to your email or SME Fund Account.
5. Do not file trademark registration until you don’t receive decision on grant action to your email address
6. The voucher expires in 2 months. You have the option to extend its validity period. Upon extension, the activation period will be prolonged for another 2 months.
7. Do not file trademark registration until you don’t receive decision on grant action to your email address
8. The voucher expires in 2 months. You have the option to extend its validity period. Upon extension, the activation period will be prolonged for another 2 months.
9. Do not file trademark registration until you don’t receive decision on grant action to your email address
10. The voucher expires in 2 months. You have the option to extend its validity period. Upon extension, the activation period will be prolonged for another 2 months.
11. Apply for a Trademark Registration and choose the suitable variant registration – EUTM Easy Filing is dedicated to SMEs or individuals, particularly for those without a legal representative, while EUTM Filing is dedicated to IP experts.

Cost Of Trademark Registration With SME FUND 2024 Grant

Thanks to having a voucher from the SME FUND 2024 program, you can reduce the EUIPO fee by 75%.  The value of the voucher is 1000€. You can use the remaining balance for future trademark filings.

1. Do not file trademark registration until you don’t receive a decision on grant action to your email address.

2. The voucher expires in 2 months. You have the option to extend its validity period. Upon extension, the activation period will be prolonged for another 2 months.

3. Don’t register brand names with common words. Let’s go through an example: SimplBooks is accounting software from Tallinn. They successfully registered its trademark in 2019. The name is unique, and the patent office trademarked this logo.

4. Don’t register a trademark if your company is newly registered and doesn’t have a bank account. The EUIPO will refund 75% of state fees paid only to the bank account belonging to the company.

5. Does your business operate only in one country? You are still eligible for the SME FUND 2024 grant. EU registration is not a must; you can register your trademark in one country too!

Reason Why Register My Logo As A Trademark

Registering your trademark offers many perks for startups. First, it legally protects your brand by preventing competitors from using similar names or logos. Without registration, your logo isn’t considered an asset.   Once registered, your trademark becomes a valuable asset that can be sold or licensed.  Additionally, having a registered trademark boosts your company’s credibility and trustworthiness with customers, partners, and investors.

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Paweł Krok - board member at Eesti Consulting OÜ