Chinese firms to benefit greatly from EU's new patent system

The first unitary patent in Europe, slated to be issued next year by the European Patent Office, will help Chinese companies save time and money, said EPO President Benoit Battistelli.

Rather than dealing with formalities in different countries, a unitary patent applicant can gain approval for participating countries in the European Union.

It will be "less costly and more simple" to file a patent, Battistelli said during an intellectual property symposium in Beijing on Thursday.