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To facilitate creation of innovative businesses and protect Japanese corporate trademarks worldwide, the government will submit to the Diet today a bill to revise the patent and trademark acts, government officials said Friday.

The bill is to be endorsed by a Cabinet meeting before being sent to the Diet later, according to officials of the Ministry of International Trade and Industry.

The bill aims to accelerate the patent acquisition process, encourage firms to seek damages if their patent rights are violated, and lower the cost of getting a patent.

The bill is also designed to help the government help Japanese companies simultaneously acquire worldwide trademark rights in accordance with the so-called Madrid protocol of the World Intellectual Property Organization, they said.

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