However, when it comes to protecting innovations European companies are facing a considerable competitive disadvantage compared to companies in emerging economic powerhouses and those of our main trading partners. Recent figures show that a current European patent can be anything from four to ten times more expensive than a US patent, when processing and translation costs are taken into consideration. The cost depends on the number of Member States targeted. And when you look at the total cost with up to ten years of protection, European patents are nearly double to five times more expensive, compared to Japanese patents which are 50 % cheaper than US patents...(more)
E.U. Commissioner Charlie McGreevy has given two speeches on protecting innovation in Europe
Innovation is a vital tool for maintaining competitiveness, growth and employment in the European Union. That is why the Commission has identified investing in knowledge and innovation as one of four key priorities in the 2008 to 2010 cycle in the renewed Lisbon strategy.
There is nothing I like better than to be among entrepreneurs, people like yourselves – innovators and risk takers, people with their finger on the pulse of their local economy, and their eye on the bigger picture - both within the EU and globally. I firmly believe that policy makers should have more opportunities to mix with business people, to hear firsthand of the real concerns felt by those who are out there in the market place, managing costs and cash flows and fighting for customers. So can I say congratulate EUROCHAMBRES on organising this highly innovative event that has brought so many of you, from so many places, to take part in the debate here today...(more)