Intellectual Property minister, Baroness Wilcox was recently asked to describe the importance of establishing a single European patent system. She said "The creation of a single European patent and patent court is crucial for UK industry", later in the interview, reported on zdnet.co.uk she confirmed that the savings to UK businesses were likely to be around £20m per year in translation costs alone.
The agreement, announced this week, covers the remaining 25 nations in the EU. This change would provide a single intellectual property right which would be available in all the countries that supported it even if some of the 27 member states object to the plan.
Under the proposal, European Patents can be submitted initially in English, French or German. All those in English have to be translated into either French or German, while those in French or German must also be rendered in English.
The idea is to remove the cost and bother associated with translating patents into all the many languages of the European Union. At the moment, businesses have to do this if they want a patent to be enforced across the union.
Triteq have a great deal of experience on the subject of patents, accumulated from years of working across many different industries. We can also help with linking clients with investors and supporting them through the crucial stages.