New European Patent System Set to Launch, But Early Challenges Emerge
The new European patent system is launching on June 1, aiming to provide inventors with a single patent that protects their inventions in multiple EU countries.
However, the system is facing early challenges, with only 17 countries being covered and seven countries yet to ratify the deal.
Additionally, the number of opted-out patents is increasing, with pharmaceutical companies leading the way.
The new system is expected to be a game changer for patents and innovation in Europe, but the complexity of the current system suits the industry.
The new system is designed to protect industry and there is no unitary compulsory licensing mechanism.
The Unitary Patent System, a new system for patents in Europe, is expected to offer significant savings for innovative companies with larger patent portfolios.
The system is designed to make Europe more attractive against competitors such as the US and China and is expected to benefit the telecoms sector, which is keen to regain investment in R&D through licensing their patents.
Companies will have the option to opt out during a transition period of at least seven years, and possibly longer.
However, opting out could limit companies' influence over the system's development.
Early adopters are likely to influence the development of case law for unitary patents.
The success of the system will depend on its widespread adoption.