EU aims at renewing European patent law

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Bloomberg.com reports about possible changes in the Europe-wide patent system. According to the article, the European Commission "called on the public to make recommendations for a new patent system by March 31." Improvements in the patenting process are expected to reduce the costs of Europe-wide patents and stimulate innovation within the EU.

According to the European Patent Office based in Munich, translation costs and renewal fees mount to about 30,000 euros ($ 36,000), which is twice as much as in the U.S.

Charlie McCreevy, the commissioner in charge of the EU's single market, said: "Good intellectual property rules are essential: by stimulating innovation and leading to the successful development of new products, they help to generate growth and jobs."

A EU-wide patent law has already been proposed in 2000, which "would have turned the European Patent Office into a one-stop shop, issuing patents valid for all 25 EU countries." Currently patents need to be translated into at least 19 languages in order to be valid throughout the European Union.

A hearing based on the recommendations submitted by the public will be held in June. McCreevy aims at implementing the renewed system before his term ends in 2009.

Source: Bloomberg.com