Denmark explores the possibilities for an EU patent insurance scheme

On 28 and 29 October the EU Presidency is organising a conference on growth, prosperity and patents titled: “An Insurance Scheme for Patents, The role of the National Patent Office and the Software Directive”.

The problem with patents, states Mr Henrik Dahl Sørensen, Deputy Director General of the Danish Patent and Trademark Office, is that even though the inventor holds a patent that is supposed to protect him from theft of the idea, it is in many cases extremely difficult and costly to prosecute the company that violates the patent, keeping many SMEs from pursuing their case, and therefore preventing them from reaping the full benefit of their investment in innovation.

In order to prevent such injustice, Denmark has taken the initiative to explore the possibilities for a European patent insurance scheme. The idea is that companies should be able to obtain insurance, so that they may be certain to have the funds for legal action in a foreign country if the need should arise. This idea will be launched and further discussed at a conference on 28 and 29 October.

According to the Presidency one of the prerequisites of the insurance scheme is that it should be implemented at European level "as individual EU Member States do not have a sufficient number of patents to make insurers interested in offering insurance cover, and if they were to do so, the insurance premiums would be exceedingly high". At EU level such a scheme would be "realistic, and its mere existence would have a preventive effect on theft of intellectual property".

 

Subscribe to our newsletters

Subscribe

Want to know what's going on in the EU Capitals daily? Subscribe now to our new 9am newsletter.