The U.S. Patent and Trademark Office (USPTO) has some great news for business owners looking to protect their potential trademarks. As of January 17, 2015, the USPTO will reduce trademark filing fees for electronic trademark applications and renewals.

Electronic trademark filings are made via the USPTO’s Trademark Electronic Application System (TEAS). TEAS has two ways you can file trademark applications, either a regular TEAS application or a TEAS Plus application. The TEAS Plus application is less expensive because it requires more information from trademark applicants.

The PTO has reduced TEAS Plus application fees from $275 per class to $225. It lowered the fees for regular TEAS filings from $325 per class to $275, as long as the trademark applicant agrees to file all responses and required documents electronically. The new option is called the TEAS Reduced Fee (TEAS RF) application. Current trademark owners are also in luck – TEAS renewal fees for registrations will come down from $400 per class to $300.

One reason the USPTO made these fee reductions is ease the financial burden on small businesses and entrepreneurs, and to boost trademark filings generally.

So, if you’ve been thinking about getting your IP protected, or if you have renewals coming up in the next few months, you might want to wait until after the reduced fees go into effect on January 17, 2015. If you want to read more, there’s an official copy of the reduced fees in the Federal Register available online.