Patent-intensive industries account for 16.1% of the EU GDP and and employ directly 23,571,234 million jobs (10.9% of all jobs in the EU). (Source: EUIPO/EPO)
A well-functioning patent system is essential for Europe’s competitiveness, innovation and job creation. Companies that seek to protect their innovations currently in Europe with a patent can either opt to do so only in one national market or designate a number of European markets through a common procedure managed by the European Patent Office in Munich. Going for more than one market means: extra translation costs, lawyer fees, additional administrative procedures and costs.
BusinessEurope considers the current European Patent Convention (EPC) system as the best option to promote the legitimate interest of innovative industries to protect their investments in valuable technical ideas. The EPC system and its high-level standards should therefore be guaranteed and promoted both in Europe and abroad. In no way these regulations and standards should be lowered or given up for the sake of trade negotiations.