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The Minister for Research and Innovation, Sean Sherlock, TD, today [Thursday] welcomed the passage of the Patents (Amendment) Bill 2011 through Second Stage in Dáil Eireann. This short Bill will enable Ireland accede to the London Agreement on patents. The aim of this Agreement is to streamline existing translation requirements for European Patents, lower costs, particularly for Small and Medium Enterprises (SMEs).

As well as lowering costs for enterprises registering European patents, the Patents (Amendment) Bill 2011 will make Ireland a more attractive location to register European patents. This is in line with the Government’s broader objective of making Ireland an international hub for intellectual property.

Minister Sherlock told the Dáil that "the overall aim of the London Agreement is to reduce costs of translations across the 38 Member States by 50%." He added that enacting the Bill would "further support Ireland’s efforts to generate economic growth through promoting and innovating better processes and products."