The SME Fund
The European Commission has launched its 2024 SME Fund, a scheme which runs between 22 January 2024 and 06 December 2024.
The Fund, which is implemented through the European Union Intellectual Property Office, provides financial support in the form of vouchers, to small and medium-sized enterprises established in the European Union for the protection of their intellectual property rights. The self-employed are also eligible for funding under the scheme.
Funding is available for SME’s in the EU seeking protection of trade marks and designs as follows:
A reimbursement of up to 75% of national, regional or EU trade mark and/or design application fees, additional class fees, and examination, registration, publication and deferment of publication fees.
A reimbursement of up to 50% for trade mark and/or design basic application fees, designation fees, and subsequent designation fees for outside the EU.
If eligible, an SME can receive funding in the form of a voucher for up to €1000 per recipient towards the protection of its trade marks and/or designs. The voucher can then be used to claim a reimbursement.
The application process
The scheme can be applied for by owners, their authorised employees or a legal representative authorised by the applicant. The grant reimbursements once approved are deposited directly into the bank account of the SME.
The application process requires the SME to create a user account at the EUIPO together with an SME profile and complete an application form.
If funding is approved, the recipient will then have two months (extendable by a further 2 months) from the date it receives the grant decision to initiate the work, for example to apply for a trade mark.
How we can help
The SME Fund offers welcome support for companies in the EU who wish to protect their valuable intellectual property, including trade marks and designs. Once registered, it is much easier to enforce your rights and registered rights are valuable assets for your business.
Our team of experienced attorneys in Dublin can help you to identify and protect your IP rights, and advise you on how to maximise their value. We can provide strategic advice on IP protection both inside and outside the EU, clearance advice and registration and portfolio management services.
If you have any questions about the SME fund please contact Alison Brennan or Tedi Halili.