The SME Fund is a new grant scheme set up to provide SMEs in the European Union access to funding towards protecting their IP.
Protecting your intellectual property (IP) is essential to ensure that your brand, ideas, products and services are not used or copied without permission. IP rights, including patents, trade marks and designs, can form valuable assets for a business, and can be an important consideration for investment in, or valuation of, a business.
The ‘Ideas Powered for Business' SME Fund is a European Commission initiative implemented by the European Union Intellectual Property Office (EU IPO), through which successful applicants can receive grant funding towards intellectual property costs.
Funding through the scheme, which was launched on 10 January 2022, is limited and is available on a first come, first served basis. The scheme will run until 16 December 2022.
Successful applicants will be able to request:
- 90% reimbursement for IP pre-diagnostic services (IP Scan) for all intellectual property rights, through which a business can work with an IP expert to develop an appropriate IP strategy.
- 75% reimbursement of trade mark and design fees incurred at the EU IPO and at national and regional IP offices.
- 50% reimbursement of trade mark and design fees incurred outside the EU.
- 50% reimbursement of patent fees incurred through national IP offices.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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