Tuesday, February 19 12:08:00
Irish innovators received a significant boost today when the Irish Government along with 23 other Member States signed the Unified Patent Court Agreement in Brussels.
The agreement is the last part of a package of measures that will provide a one-stop shop for innovative enterprises to register and protect their patents in the European Union.
Its creation will save Irish businesses seeking patent coverage in Europe significant amounts, with up to E6 million spent annually on patent translation costs alone. Across Europe, it is estimated that the new patent system will save business between E150 and E290m each year.
Minister for Jobs, Enterprise and Innovation, Richard Bruton was in Brussels along with Minster for Research and Innovation Sean Sherlock chairing the first meeting of the European Competitiveness Council to take place during the Irish Presidency of the EU.
Minister Richard Bruton said: "The signing of the Unified Patent Court is a historic moment as it paves the way for the implementation of the patents package, which will give enterprises greater access to patent protection at European level, and make enforcement of patents more affordable."
"It is also an important milestone in the continued development of the Single Market - a priority for the Irish Presidency. Indeed, achieving a unified patent litigation system was a major priority of the Single Market Act."
He added, "When the full patents package is implemented, it will mean that European enterprises will, on the basis of a single application, be able to obtain a patent that has effect in the majority of Member States of the EU and have access to a common litigation system to process any actions for infringement or invalidation of that patent."