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On December 11, 2012 the European Union (EU) Parliament approved two regulations on a unitary patent for Europe, commonly known as the European Patent. The new system will provide automatic unitary patent protection in all 25 participating member states, cutting costs for inventors, thus boosting their competitiveness.
And the benefits of a European Patent? According to the EU Commission the European patent may cost 4,725 EUR, compared to an average of 36,000 EUR today. On top, the Parliament also helped to reduce translation cost to literally "zero" for certain sectors of the EU economy, namely to EU based SMEs, non-profit organizations, universities and public research organizations. Renewal fees will also be kept at a level that addresses the needs of small firms. To learn more about this historic event please go to European Patent Office welcomes historic agreement on unitary patent; Parliament approves EU unitary patent rules