BRUSSELS (Reuters) – The European Union patent body will take charge of a process to determine fair and non-discriminatory royalties for patents that cover industry standards for important technologies, according to a draft EU regulation aimed at resolving disputes between patent holders and users of such standards.
“The FRAND determination procedure should simplify and speed up negotiations concerning FRAND terms and reduce costs. The EUIPO should administer the procedure,” said the document seen by Reuters on Tuesday.
FRAND (fair, reasonable, and nondiscriminatory) terms are often used in relation to technical standards that are developed through an industry-led standardisation process.
(Reporting by Foo Yun Chee; Editing by Richard Chang)
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Source: The Print
