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Boosting legal support for SMEs

In today's fast-changing business world, safeguarding intellectual property (IP) is crucial for small and medium-sized businesses (SMEs) to succeed and continue. Recognizing the crucial role of lawyers in guiding SMEs through the intricacies of IP rights, the European Union Intellectual Property Office (EUIPO) has launched the Ideas Powered for BusinessSME Fund. This initiative, co-funded by the European Commission, aims to provide financial support to EU SMEs for the protection of their IP assets and will run from 22 January 2024 to 6 December 2024.

Open to all enterprises in the EU that meet the official definition of an SME, the SME Fund offers a maximum reimbursement of 1500 EUR per beneficiary. SMEs can utilize these vouchers to avail themselves of valuable IP services, including a 75% discount on IP pre-diagnostic fees (IP Scan) facilitated by participating National IP Offices, and a 50% discount on trade mark and design application fees (national, regional, and EU).

In addition to financial support, the EUIPO also offers valuable resources and guidance to SMEs through its Ideas Powered for Business website. This comprehensive platform serves as a one-stop-shop for SMEs across the EU, providing up-to-date information, tools, and training materials to enhance their competitiveness in a globalized environment.

The SME Fund is tailored to benefit SMEs established in the European Union, and grants are transferred directly to the SMEs upon approval of their applications. Detailed information on the application process, along with promotional materials for the SME Fund 2024 in all EU languages, is available on the EUIPO website.

In conclusion, the Ideas Powered for Business SME Fund represents a significant opportunity for EU SMEs to protect and leverage their IP assets for growth and innovation. By collaborating with lawyers and providing financial support and resources, the EUIPO aims to empower SMEs to navigate the complexities of IP rights and secure their competitive advantage in the marketplace.

 

This article has kindly been provided by our co-operation partner EUIPO - Ideas Powered For Business.

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