NERA sponsored this year's annual pan European intellectual property summit, hosted by Premier Cercle in Paris on 9-11 December 2013. As part of the program, NERA Director Dr. Emmanuel Llinares discussed the impacts that the European Union's new Unitary Patent (UP) and Unified Patent Court (UPC) system will have on patent valuation. In addition, NERA Senior Vice President Dr. Alan Cox discussed the new patent system in Europe from an American perspective, and whether the system will open the doors to more litigation by patent trolls.