The demand for trademarks by UK businesses has fallen by over a fifth in the past year, new figures suggest.
Data from the European trade marks and designs registration office, OHIM, shows that UK-based businesses have made 22% fewer applications compared to the same time last year.
The decrease suggests that there are fewer start-ups being launched in the UK as a result of the credit crunch.
Across the rest of Europe there have also been falls, with Spain down 19% and France and Italy 10% and 8% respectively. However, Germany has managed to buck the trend with a 6% rise. The US, which also uses European Community trademarks, has also made 25% fewer applications.
The OHIM is to reduce the cost of its trade mark protection by 40% to €900. The OHIM says the price cut is unrelated to the recession, but hopes the reduction will help stimulate demand.
Its president, Wubbo de Boer, said the figures indicated that recession was still affecting the office’s major customers.
“We hope that the very significant drop in the cost of Community trade marks will encourage companies, in spite of these difficult times, to continue to protect their future right to market their brands freely in Europe.
“As a non-profit-making European agency, we have been trying to play our part in providing value for money in this essential service.
“If the earlier cut in trade mark fees in 2005 is taken into account, through efficiency measures and the higher use of computer technology we have been able to more than halve the cost of Community trade marks over a five year period.”
© Crimson Business Ltd. 2009