Irish innovators received a significant boost on Tuesday when the Minister for Jobs, Enterprise and Innovation, Mr Richard Bruton TD, 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 euro now being spent annually on patent translation costs alone. Across Europe, it is estimated that the new patent system will save business between 150-290 million euro each year.
Minister Bruton was in Brussels along with the Minster for Research and Innovation, Mr Seán Sherlock TD, and chaired the first meeting of the European Competitiveness Council to take place during the Irish Presidency of the EU.
Minister 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.
