The EU Parliament has rejected proposed legislation that would allow unrestricted patenting of software implementations and methods such as is currently being allowed by the US Patent and Trademark Office. This should means that software innovation remains alive and well in Europe, even if it gets stifled here by stupid patents on software implementations that are neither innovative nor non-obvious.
Update:
This is a clearer and less ambiguous article on the same subject, from the BBC. As it makes clear, the decision does not eliminate patentability of common or trivial software algorithms, but at least it does not legitimize the practice and lead the EU down the path of US patent legislation (under which, it seems, you could now probably get away with patenting the use of a Q-Tip to clean your ears, if you could find a way to justify describing it as a "business method").
There are between 150,000 and 300,000 registered software patents in the US and open source developers argue that many should never have been granted. (Quoted from another BBC article)
The EFF has begun a campaign to counter these patents, and has identified a "Most Wanted" list of the top 10 most egregious software patents (see the bottom of the article), on which it is now doing prior-art research in the hope of overturning them.
Counter to the trend of many large high-tech companies supporting software patent schemes, IBM recently released 500 of its own software patents to the open source community.
IBM was granted 3,248 patents in 2004 and 25,772 over the last 12 years. It reportedly has more than 40,000 current patents in all.
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This will also have the side effect of making IBM, who is a global company with a bigger legal staff and bigger lobbying group (if not more market cap - it doesn't) than MSFT, anti-patent. Innnnnteresting.