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Is there an economic case for strengthening the patent system in Europe? How strong should patents be? Patents are described as the institutional device where by market economies seek to cope with the peculiarities of knowledge production. The nature of the patent is crucial as the patent term and scope-vary between countries and industries can prove to be fundamental in the way competition is drawn up in a market. Hence the 3 dimensions of a patent are: novelty, priority and disclosure. Modern day thinking by economists, lawyers or other professionals is heavily towards the proposition that strong and broad patent rights are proportional to economic growth. Hence many countries believe that long run strong patent protection will be good for their economic development. However this has not always been the case. Suffice to say that, in 1960's many economists indicated that in most industries (usually high- tech) patents were not an important...

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