New measures to ensure that companies’ intellectual property rights are well protected have been presented by the European Commission.
The new initiatives will apparently make it easier for businesses to act efficiently against breaches of intellectual property rights, facilitate cross-border litigation, and tackle the fact that 5% of goods imported into the EU (worth €85 billion) are counterfeited or pirated.
The Commission also encourages licensing negotiations that are fair and balanced in rewarding companies for their innovation, while allowing also others to build on this technology to generate new innovative products and services.
According to the Commission, this will encourage European companies, in particular SMEs and start-ups, to invest in innovation and creativity.
"Europe's economic growth and competitiveness largely depends on our many entrepreneurs – from start-ups to large companies – investing in new ideas and knowledge,” explained Vice-President Jyrki Katainen, responsible for Jobs, Growth Investment and Competitiveness. “The comprehensive package we are presenting today improves the application and enforcement of intellectual property rights and encourages investment in technology and product development in Europe."
Under the new measures, the Commission intends to step up the fight against counterfeiting and piracy by depriving commercial-scale IP infringers of the revenue flows that make their criminal activity lucrative. It aims to do this by:
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