Lithuania signs agreement on common patent court

  • 2013-02-20

VILNIUS – Lithuania’s Minister of Economy Birute Vesaite during the meeting of European Union Competitiveness Council in Brussels signed the EU agreement on a common patent court, reports ELTA.

EU member states that signed the agreement aim to create unified patent court and to set common rules of patent disputes investigations.

According to the minister of finance, the establishment of unified patent court is very important step in creating common patent security system in the EU. It is expected to strengthen the EU's global competitiveness, while the new joint patent system will promote innovation.

"Business will be able to secure their inventions better and conditions for more effective protection of innovative product created in EU and exported to the other EU countries will be created," said Vesaite.