Good news to inventors who want to own a European patent. London agreement is set to cut post grant translation cost which usually takes up to 40% of the entire cost to own a European patent.
Previously, in other to enforce an European patent, the patent document needs to be translated into the national language of the countries concerned. Imagine paying for the cost of translation of patent documents for eight European languages. If the London Agreement is enforced in 2008, than the patent document in the official language of EPO, which is English, French or German is sufficient to have extensive protection in Europe. Patent holders will benefit from significant savings in translation cost. For more information, please refer Patent Information News Issue 4/2007 by EPO.