WIPO: Patent Law Treaty is finalized
PLT promises to reduce the cost of patent protection and to make the process more user friendly and widely accessible
Member states of the World Intellectual Property Organization (WIPO) adopted by consensus an international treaty that will simplify and streamline procedures for obtaining and maintaining a patent. The Patent Law Treaty (PLT), which opened for signature on June 2, 2000, will enter into force once it has been ratified by ten countries. The PLT was finalized at a Diplomatic Conference that brought together high-level representatives from some 150 states and met from May 11 to June 2, 2000. The treaty is the culmination of 5 years of negotiations and is a major step towards further harmonization of patent law. The PLT promises to reduce the cost of patent protection and to make the process more user friendly and widely accessible.
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