§ Ms CorstonTo ask the President of the Board of Trade what plans she has for assisting business in protecting its inventions, designs and trademarks. [52150]
§ Mr. Ian McCartneyI am delighted to announce that I have today caused three Statutory Instruments to be laid which, subject to Parliamentary approval, will from 1 October 1998 substantially reduce the fees charged by the Patent Office in connection with patents, trade marks and registered designs. These reductions, coupled with others connected with international trade marks being introduced administratively, will in a full year amount to some £12 million, equal to 20 per cent. of the Office's present income from fees. The reductions have been made possible by major improvements in quality of service and substantial cost savings achieved by the Patent Office since its relocation to Wales in 1991. A number of fees are to be abolished altogether and this will be a major benefit in particular to small firms and private individuals. In addition we are reducing renewal fees on granted patents by an average of 18 per cent. with larger reductions in the earlier years when the full commercial potential of an invention may not have been realised.
This is a significant contribution to enhancing the competitiveness of British Industry and commerce and is very good news for all users of the Patent Office, especially small and medium-sized firms.