Minister Bruton, patent to benefit start-ups & small businesses
Minister for Enterprise, Jobs and Innovation, Richard Bruton described yesterday ‘s EU decision advancing the creation of a single European patent as an ”historic political breakthrough after over 50 years of negotiations. Ireland has long supported the proposed EU patent as a way of encouraging competitiveness, innovation and reducing costs especially for small and medium sized firms."
The current system has serious consequences for European competitiveness, where processing and translation costs can result in a European patent costing 10 times that of a US Patent and 13 times than that of a Japanese patent. Minister Bruton stressed the need to free European Business from the shackles of a complex and fragmented system, and concluded that ...
“The creation of a unitary patent title will ultimately improve access to patent protection and lower costs for businesses and entrepreneurs seeking cross border protection for patented inventions. These cost reductions would particularly benefit Irish start-ups firms and small businesses.”
For further information see the Department's press release