The Federal Government has proposed legislative amendments to the Patents Act 1990 to abolish the New Invention Idea, following recommendations by the Productivity Commission which it accepted last year. Together with a number of other industry groups, the Institute of Patent and Trade Mark Attorneys (IPTA) has been actively lobbying the Government to keep the innovation patent and undertake further consultation to comprehend the impact abolition might have on innovation, particularly in terms of Australian small and medium-sized enterprises (SMEs).
The innovation patent was introduced in May 2001 to provide a second tier patent and replace the “petty patent” system that had operated since 1979. It was created to stimulate local SMEs to innovate, primarily because it can enable a quicker and a lot more cost-effective means for protecting intellectual property that may not meet the inventive step requirement.
Second tier patent systems happen to be successfully operating for a long period in many overseas countries, including China and Germany where they’re called “utility models”. Our firm helps numerous local clients protect their new and valuable products and so it seems to us that abolishing the Australian innovation patent is a retrograde move.
In the following video produced by IPTA, Australian business people present their independent views regarding the innovation patent as well as the ramifications should it be abolished. Australian innovators seeking IP protection may desire to give advance consideration towards the Australian innovation patent system although it still exists.
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A registered Trade Marks Attorney can enable you to figure out what aspects of your branding might be best registered to maximise the strength of a trade mark registration, providing you with peace of mind that the value you’re building inside your brand is correctly protected.