Member Article

Patent court could generate £200m for economy

An international patent court is set to be established in London as the Business Secretary Vince Cable has finalised a deal in Brussels.

The Government hope the new court and patent system will generate £200m to the economy each year, as it should be up and running from 2015.

Legal services are also expected to benefit from the court which will act as a hub for companies registering new business ideas in the EU.

Presently, organisations and inventors can protect their invention either through the UK Intellectual Property Office, or they can look for wider protection through the European Patent Office.

This can incur significant time and monetary costs as patents must be validated in the respective countries, bringing with it associated administration and translation costs.

Philip Westmacott of the Law Society’s IP Working Party commented: “The signing of the Agreement on a Unified Patent Court is a major landmark on the road to a fully integrated European Patent system. Over time litigation about patents in Europe will increasingly be before a European Court rather than national courts.

“Some 75% of European patents are in English and English is the primary language of science and technology. Those facts, coupled with the government’s vision in pushing for a key part of the Central Division handling Chemical and Pharmaceutical patents to be sited in London, means that the UK patent professions should play a leading role in the new system as it evolves.

“The UK legal profession has a long tradition of excellence in patents and IP in general, and having this important part of the Court in London will help not only to maintain that tradition but also benefit the new court system. The input of our experienced and well-respected judges will be invaluable too.”

Dr Cable said the move will help inventors to focus on research and development, and less time spent defending patents.

Chris Cummings, CEO of financial services trade body, TheCityUK said the move was recognition of London’s global status for legal services.

He said: “London and the UK remains well positioned internationally for dispute resolution. Companies are twice as likely to choose English law over any other law.

“The new Rolls Building in London is helping to sustain the UK’s reputation as the first choice for business law. Indeed, legal services accounts for close to £4bn in export earnings for the UK.”

This was posted in Bdaily's Members' News section by Tom Keighley .