IPO Minister, Baroness Neville-Rolfe said of the lease:
"The signing of this lease represents a milestone in the UK’s preparations for the introduction of the Unified Patent Court. Aldgate Tower, with its superb central location, will provide an ideal home for a modern court to support the UK’s and Europe’s leading edge innovative companies. This will further strengthen UK’s legal and professional services sector, and reinforce London’s status as a world leading centre for dispute resolution."
James Tumbridge said: "I've been honoured to campaign for this prestigious Court to be hosted in central London for several years, and this is most welcome news for the City, legal services and the opportunities for Tower Ward and the surrounding area in the re-vitalised Aldgate area."
The Unified Patent Court (UPC) is the new patent court for Europe. The Court will hear cases regarding European patents valid in the territories of the participating states, with a single court ruling being directly applicable throughout those territories. This will in time replace the current system of each member state determining the validity or infringment of patents in their own domestic courts.