EU patent body to oversee tech-standard patent royalties

BRUSSELS: The European Union patent body will oversee a new process to set fair royalties on patents for technologies widely used in products like cellphones, according to a draft EU regulation that seeks to reduce litigation over royalty disputes.

Standard-essential patents cover technology that devices must include to comply with international standards like 4G, Wi-Fi and USB. Some standards entail thousands of essential patents, and their owners are required to offer licenses on fair and reasonable terms.