As an app developer, you may find that many startups initially disregard the importance of trademark registration, a critical yet often overlooked aspect. However, securing a trademark can be a valuable intangible asset for your company’s portfolio. Nevertheless, the costs associated with trademark filing can be notably steep. In this article, I’ll elaborate on a new initiative known as the SME FUND 2024 Grant, which presents an opportunity to slash trademark registration expenses by up to 75%.
What is SME FUND 2024 Program?
The EU, in collaboration with EUIPO and the European Commission, has launched the 2024 Ideas Powered for Business SME Fund. This initiative offers vouchers for intellectual property to small and medium-sized enterprises (SMEs) across the EU. With over 35,000 SMEs applying for the fund last year, people deemed it as a considerable success. Grants are allocated on a first-come, first-served basis throughout 2024 until all funds are depleted.
The SME Fund 2024 program is designed to assist small and medium businesses in protecting their intellectual property rights. Its primary objective is to significantly
reduce trademark registration fees by 75%. Successful applicants can benefit from deducting up to 75% of their expenses incurred with EUIPO if approved for this program. Applications for this grant can be submitted remotely and online.
Logo of SME Fund Program
Can I Apply for a Voucher or Not?
The program targets SME businesses registered within the EU. You can define SMEs as businesses with fewer than 250 employees, annual sales under 50 million euros, or annual assets less than 43 million euros. Additionally, foundations, associations, and universities can apply for an SME FUND 2024 grant if they are involved in economic activities.
How to Start An Application with Simple Steps?
To start an application and get the voucher from SME FUND 2024 Program, follow below steps:
- Sign up for an account on this platform and complete the application form.
- Prior to submitting your application, ensure you have the following documents ready: (VAT certificate or TIN Number Confirmation Company’s bank statement in PDF format)
- Allow up to 15 working days for your application to be reviewed and approved.
- Once approved, you will receive a decision electronically, either via email or directly to your SME Fund Account.
- Proceed to apply for trademark registration and select the appropriate registration variant: Choose “EUTM Easy Filing” if you’re an SME or an individual without legal representation. Opt for “EUTM Filing” if you’re an IP expert.
The Value of a voucher is 1000€
Decision on Action Grant
5 Steps for EU Entrepreneurs: Starting the Business for Successful Trademark Registration
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Step |
Description |
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1. |
Think about the name of your business. Before you start, check the trademark database and try to find unique words. What is a “unique word”? This is a word not indicated in the language book. For example, SimplBooks is accounting software from Tallinn. They registered a word trademark for the name “SimplBooks”. |
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2. |
Check the domain name associated with your business name. Make sure the domain name is available and secure it. If your domain name is not available, research GoDaddy Auctions & Domain Coasters and try to buy an aged domain or simply backorder an expiring domain. This approach has an advantage – you gain SEO benefits. |
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3. |
Register an EU business. Choose the best country for your business. You can consider registering a company in Estonia, where the corporate tax is 0% if you don’t distribute dividends. This is why many startups choose Tallinn |
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4. |
Set up a bank account. This is required for compliance and transparency of your business. You can choose from various options like Revolut, WISE, Paysera, or try to open a traditional bank account. |
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5. |
Apply for a trademark under the SME FUND 2024 regime. Take advantage of the SME FUND 2024 to reduce EUIPO fees by 75%. |
How Much Does Trademark Registration Cost in the EU?
Starting in 2024, the fee for the initial trademark class in the EU stands at €850 for online submissions and €1000 for paper filings. For subsequent classes, there is an additional €50 charge, with each further class incurring a fee of €150, irrespective of the application method. These fees solely cover government charges.
Thanks to the SME FUND 2024 grant, all fees payable to EUIPO can be reduced by 75%. This translates to a payment of only €212 instead of €850 for registering a single class.
| EU Trademark Registration �� | Without Grant With Grant (75% reduction) |
| State Fee
Grant Reduction |
850 € 850 €
N/A -637.50 € |
| Total Cost | 850 € 212.50 € |
Table 1: The Cost of Trademark Registration with and without grant.
TOP 3 Reasons Why a Trademark Registration is a MUST-HAVE for App Developer
REASON 1: LEGAL Protection Registering your trademark provides essential legal protection for your app developer’s brand identity. By securing exclusive rights to your app developer’s name, logo, or slogan, you prevent competitors from using similar elements that could confuse customers or dilute your brand’s reputation.
REASON 2: ASSET Creation A registered trademark transforms your app developer’s branding elements into valuable intellectual property assets. This asset can be leveraged for various purposes, including licensing agreements or selling your app developer’s rights, contributing to your app developer’s overall value and potential revenue streams.
REASON 3: Credibility and Trust: A registered trademark enhances your app developer’s credibility and trustworthiness in the eyes of customers, partners, and investors. It signals professionalism, reliability, and a commitment to quality, which can positively impact user perception and business relationships, leading to increased user adoption, partnerships, and investment opportunities.
Exclusive Offer For NANDBOX Readers
- Entrust Eesti Consulting with the entire process.
- We obtain the SME FUND 2024 voucher for you—our promise: no voucher, no payment!
- We prepare a trademark application and forward it to the European Patent Office.
The regular Fee is 400€ for the whole process, but using this code, you get a 20% discount!
READERS20
Start the process here:
https://eesticonsulting.ee/services/trademark-registration-estonia-eu/
Author:
Paweł Krok – board member at Eesti Consulting OÜ
