Minister Bruton signs up for Single Market for European Patents
Savings of in excess of €6m for Irish businesses via one-stop shop for EU patents
Irish innovators received a significant boost today when Jobs Minister Richard Bruton along with Ministers from 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 €6 million spent annually on patent translation costs alone. Across Europe, it is estimated that the new patent system will save business between E150-290m each year.
Minister Bruton was in Brussels along with Minster for Research and Innovation Seán Sherlock TD 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.
Minister Sherlock commented:
Today’s signing is particularly good news given last week’s CSO figures on business expenditure on R&D. The survey showed that enterprises across all business sectors spent some €1.9bn on research and development activities in Ireland in 2011, an increase on the €1.83bn spent in 2010. This is estimated to have risen to almost €2bn in 2012. The continuing development of Ireland as a location for the performance of world class R&D is crucial, as this will allow businesses to build a competitive advantage that will result in jobs and growth.
Read the full press release here