The complexities of the European Union (EU) patent system and the lack of a unified patent are confusing small and medium sized businesses, according to intellectual property firm Mathys and Squire.

In the EU patents usually require validation, translation and annual renewal in all applicable countries, making it time-consuming and expensive when compared to other parts of the world and a lack of a unified EU patent makes it harder for UK businesses to protect their intellectual properties.

"Patents are potentially of huge value commercially and should be an important part of a business' ongoing strategy. With the right advice and a little creativity, companies can obtain practical protection within the confines of the existing legal situation," said Ilya Kazi, partner at Mathys and Squire.