As part of the Single Market Act, the European Commission presented today a package of proposals for unitary patent protection within the EU. Commission figures show that the proposed system will reduce the cost of patents in Europe by up to 80%. These are very significant savings, particularly for small and medium size enterprises. A cheaper and easier EU-wide patent protection system will allow innovative entrepreneurs to fully develop their businesses and spend their money on what they do best, innovating. We hope Spain and Italy join the enhanced cooperation soon so the new patent system covers the entire Union. We have been waiting a long time and simply cannot afford to do so any longer.
It is high time to start eliminating unnecessary internal market barriers. The proposed set of rules presented today sets the right direction to produce an environment conducive to innovation. In a situation of economic recovery, entrepreneurs need all the flexibility and legal certainty they can get to pursue new business opportunities across the EU.