IP registration price decrease praised
The UK Intellectual Property Office’s decision to reduce the cost of trade mark registrations has been hailed a ‘good news’ by trade mark attorney practise, Mathys and Squire LLP.
The consultancy has praised the move to reduce the cost to register a person’s intellectual property from £200 will further motivate aspiring entrepreneurs and start up businesses who work with limited funds.
From October the ‘Right Start’ service for trade marks will enable businesses to defer payment of half the application fee until after the IPO has assessed whether it is acceptable for registration.
Ilya Kazi, partner at the London office of Mathys and Squire LLP commented: “The proposals are good news for start up companies that may have previously been wary of registering trade marks due to the initial costs involved. The new service will allow businesses to assess the credibility of the trade mark before paying the full initial application fee, removing the worry of needlessly parting with crucial funds.
“A registered trade mark is an extremely important and valuable commercial asset that businesses should not be ignore. Hopefully the introduction of this new measure will provide brand owners with the necessary encouragement to actively protect their trade mark rights.”