Netherlands freezes Russian oil and gas patents: Report
The Netherlands froze patents belonging to the Russian gas companies Gazprom, Rosneft, and Transneft, NOS reports based on information from the Netherlands’ Patent Office. That means Dutch companies can recreate the Russian gas companies’ patented products without consequence. It also makes it more difficult for the Russian companies to do business in the Netherlands.
Companies use patents to lay down in law that their designs and inventions may not be imitated. If another company wants to use the invention or design, it must get permission from the patent holder and pay them royalties through licensing agreements.
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Gazprom, Rosneft, and Transneft have been on the European sanctions list since Russia invaded Ukraine early this year. That means that all their assets in Europe are frozen, including the total of six patents these Russian oil and gas companies hold in the Netherlands. According to NOS, the patents protect seismic sensors, the design of gas turbines, and other inventions.
In addition to generating income through licensing agreements, companies can also use their patents and collateral for loans. The three Russian oil and gas companies can no longer do that in the Netherlands, making it more difficult for them to do business here.’
In March, Russia already suspended the patent protection of companies from “unfriendly countries,” including the Netherlands. That affected about 1,200 Dutch patents, patent attorney Robbert-Jan de Lang said to NOS. He added that many Dutch companies are getting rid of their patents in Russia, which cost money to maintain, because they have lost all value.
Published: 14-10-2022
