Embraces the spirit of free enterprise Economic climate Germany has a social market economy, meaning that she embraces the spirit of free enterprise, but tempered with controls and other administrative legal measures designed to prevent large economic participants from seriously damaging other interests. Laws against unfair competition, including the antitrustRead More →
framework underpinning the FSC The framework underpinning the FSC will need to be clarified and fine-tuned as processes crystallise and as more experience is gathered. The FSC will also need to promptly develop a macroprudential strategy and operationalise it. It is important for this strategy to be comprehensive and toRead More →
Utility model Utility models Similar to a patent, a utility model gives its owner the exclusive right to use a technical invention for a duration of 10 years from the day following the filing of the application. Contrary to patent applications, the DPMA does not verify during the application processRead More →
Economy is oriented towards manufacturing Traditionally, the German economy is oriented towards manufacturing. This extends to the service sector, where there are many companies developing and applying leading-edge technologies for industrial use. For decades, manufacturing output has exceeded the consumption requirements of the domestic economy; in effect, Germany is andRead More →
Macroprudential policy framework Macroprudential policy framework The reforms in institutional and organisational arrangements introduced by the Financial Stability Act (FSA) broadly address the FSAP recommendations on the macroprudential policy framework. In particular, the law delineates statutory responsibilities for financial stability in Germany; establishes the Financial Stability Committee (FSC), and mandatesRead More →
German Patent and Trade Mark Office The invention must be registered with the German Patent and Trade Mark Office (Deutsches Patent- und Markenamt – DPMA) to obtain patent protection. In Germany the DPMA is the central industrial property authority. The applicant has to file a request for examination with theRead More →
All forms of industry are represented The economy Almost all forms of industry are represented within the broad-based German economy. As befits a country with high employment costs but with a well- educated population and a well-trained workforce, the most exciting prospects today are offered by industries in the forefrontRead More →
Patents are granted for technical inventions Patents Patents are granted for technical inventions that are novel throughout the world, involve an inventive step, and are suscepti- ble of industrial application. The patent gives the proprietor of the patent the exclusive right to use the patent for a period of 20Read More →
Good overall progress has been made in addressing the FSAP Main findings Good overall progress has been made in addressing the FSAP recommendations in both areas, although several elements of the reforms are ongoing. Going forward, the authorities need to expeditiously develop and implement a comprehensive macroprudential strategy, and toRead More →
Court system is decentralised The German court system is decentralised. Initially, cases are held locally and appeals are made to a higher court responsible for a wider geographic area. The courts are divided into a number of different streams, each specialising in its own field of law. There are thereforeRead More →
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