"The cost of having a Community trade mark will be cut by 40% to EUR 900 for online applications from 1 May, the European Commission announced today. OHIM's President, Wubbo de Boer, speaking at a joint press conference with the European Commissioner for the Internal Market, Charlie McCreevy, said he was delighted that Community trade marks were becoming more accessible and affordable.

Commissioner McCreevy said: "This is good news for businesses in Europe. This will promote entrepreneurship and stimulate economic activity, which is essential in times of economic crisis. In particular, small and medium-sized enterprises, for which the costs and procedure of obtaining this protection are often a heavy burden, will profit from these improvements."

The move is the second cut in fees in five years, and has been made possible by increased efficiency at OHIM. The process of obtaining a trade mark has been simplified and there has been a strong drive towards doing business online. Over the past five years, the average time taken to register a Community trade mark has dropped by 50% to around eight months."