EU leaders agree to introduce single European patent

EU leaders agreed yesterday to introduce a single European patent, ending decades of dispute with a deal that will cut costs for inventors and industry.

The scheme will end the fragmented system where it typically costs an inventor up to €35,000 to protect an idea throughout the European Union, and is an important part of a growth drive for Europe’s stagnating economy.

“After 30 years of discussion on the European patent, we have reached an agreement on the last outstanding issue — the seat of the unified patent court,” Herman Van Rompuy, president of the European Council, said after an EU leaders’ summit.