Trademark protection in Europe to become cheaper

20/11/2008

In a move that will please inventors, the cost of gaining trademark protection in Europe is to be slashed by 40%.

Charlie McCreevy, the EU's internal market commissioner, said application and registration fees for community trademarks would be reduced before the start of 2009. Fee structures would also be simplified, he said.

The current cost of for applying and registering a community trademark with the OHIM is around Euros 1,600. Under the revised system, this will fall to about Euros 1,000.

Speaking to MEPs recently, Mr. McCreevy said the overhaul of trademark registration procedures would help small businesses and the establishment alike by reducing red tape and lightening the administrative burden.

His speech also implied that demand for intellectual property protection had exceeded expectations and had led to a "financial surplus" through fee payments. In accordance with the Small Business Act, fees have been cut in order to prevent surplus funds building up further.

Mr. McCreevy had previously pledged to make the system for community trademarks more accessible, and this latest development certainly seems to imply he is putting this principle into action.