New EU-wide patent system approved by the European Parliament

Now national governments must ratify the agreement, which parliament officials say could cut the cost of obtaining a patent by 80 percent

By Loek Essers, IDG News Service |  IT Management

The new regulation "means the European Parliament will abdicate all its political powers to an organization ... that is outside of the E.U.," said Christian Engström, Pirate Party member of parliament, adding that he still wanted a European patent as long as it did not hamper innovation as he believes the proposal in its current form does.

Loek is Amsterdam Correspondent and covers online privacy, intellectual property, open-source and online payment issues for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com

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