The creation of a new patent system for the whole of the EU has been approved by the European Parliament.

The new system has been introduced to make the process cheaper and faster, however questions have been raised over the issue of patent ‘trolls’ who will use the system to register multiple patents, with foresight to making profit through re-sale without patent development.

The move faced objection from Spain and Italy who refused to participate however the EU parliament approved all three regulations that consist the new patent system.

In a release the EU parliament said: “The international agreement creating a unified patent court will enter into force on 1 January 2014 or after thirteen contracting states ratify it”.