Real-Time Quotes:
Forex Quotes
|
Currencies
|
Commodities
|
Stocks
|
World Indices
|
Rates & Bonds
     

Market News

Company News

Forex Brokers

Trading Tools


Crosses


  

EU takes key step towards bloc-wide patent system

2009-03-24 16:37:09 GMT (Reuters)
0
votes
 
View Comments (0)
Previous News | Next News
Text Size
Print
Email
Add a Comment

By Huw Jones

LONDON, March 24 (Reuters) - The European Union's executive arm has proposed a single bloc-wide litigation system for defending patents, a move that would cut legal costs for companies.

A cheap one-stop system for filing and defending a patent in the EU to nurture new business ideas has been a goal for decades but thwarted by disagreement over which languages and court structure to use.

The European Commission formally asked the bloc's member states on Tuesday for a mandate to set up a unified patent litigation system that would have jurisdiction over existing European patents and a future single EU community patent.

This would avoid the need for a company to defend a patent in several national courts, a costly process.

"European businesses find the current patent litigation system complex, slow and costly," EU Internal Market Commissioner Charlie McCreevy said in a statement.

By 2013 a unified court system would save 148-289 million euros ($202 million to $394 million) a year, the Commission said.

Lobbyists for smaller firms welcomed the move.

"We hope this development will give a new impetus to the conclusion of negotiations on the community patent," said Jonathan Zuck, president of the Association for Competitive Technology.

"Small and medium-sized firms cannot wait for it, they need it today," he said.

A new system of courts would give a role to the EU's top court, the European Court of Justice. It would need backing from the bloc's 27 member states and the wider group of 35 nations party to the European Patent Convention.

The ECJ will be asked for an opinion on the compatibility of the Commission's plans with EU treaty rules.

"In parallel, outstanding issues concerning other components of the patent reform package such as the regulation on the community patent and the relationship between the EU and the EPO (European Patent Office) will likewise have to be addressed," the European Commission said. (Editing by Dale Hudson)

Content Provided by
Reuters
Reuters
Reuters is the largest international news agency -- providing professionals around the world with stories that move the markets.

Disclaimer:
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

  • Comments


Add a Comment
Title:
Your Opinion:
Become a member and get 6 free Forex courses by Online Trading Academy!

  • Webinar

ForexPros.com Newsletter

  • Sponsored Links

  • Let expert trading strategies work for you! Chose the top performing system you want and start making great returns. It's free!

  • Free Charts, Quotes, Analysis.
    CC, PayPal, Wire are Accepted.

  • Open an Islamic Account with AvaFX.
    Halal Trading, Pay No Interest.
 
 

Special Offers: