On 19 February 2013 Business Secretary Vince Cable finalised the deal for a new patent court to be based in London when attending a signing ceremony in Brussels. The new court and patent system creates a one-stop shop for companies wanting to protect their business ideas in Europe and will bring at least £200 million to the economy each year.
The Prime Minister successfully negotiated the agreement last year which means that British pharmaceutical and life sciences companies looking to defend or enforce their patents across Europe will only need to go to one court once, instead of fighting their case in each European country. The new court will be up and running from 2015. This will offer significant savings for businesses and is good news for job creation in the legal services sector across the country.
For more information you may visit: http://www.ipo.gov.uk/press-release-20130219.htm
