UK to fast-track international patent applications

A new fast-track procedure for approving international patent applications that will cut waiting times by more than a year was launched in the UK last Friday. Prime Minister David Cameron announced the new Intellectual Property Office (IPO) scheme during his speech in Leeds, which set out his vision for transforming the UK economy.

The Prime Minister said: 'Today we announce a new fast-track system for international patents to reduce the global backlog which stifles growth and enterprise and costs the global economy £7.6 billion [$10.97] for every year patents are delayed.'

Intellectual Property Minister Baroness Wilcox welcomed the announcement, saying: 'Innovation is one of the main driving forces for Britain's economic recovery. Delays in dealing with patent applications prevent firms from expanding and creating new jobs. It is essential that businesses can take ideas from the drawing board to the market as quickly as possible. Securing a patent is an integral part of that process. The new fast-track procedure will make it quicker for business to turn innovation and ideas into products and jobs. Britain is leading the way in identifying and dealing with the patent backlog. I hope other countries will establish similar fast-track schemes to tackle this problem.'