The Federal Government has proposed legislative amendments to the Patents Act 1990 to abolish the I Want To Patent My Idea, following recommendations by the Productivity Commission which it accepted last year. In addition to several other industry groups, the Institute of Patent and Trade Mark Attorneys (IPTA) has been actively lobbying the federal government to keep the innovation patent and undertake further consultation to understand 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 supply a second tier patent and replace the “petty patent” system that have operated since 1979. It was created to stimulate local SMEs to innovate, mainly because it can enable a faster and a lot more inexpensive path for protecting intellectual property that may not fulfill the inventive step requirement.
Second tier patent systems happen to be successfully operating to get a long amount of time 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 actually a retrograde move.
Inside the following video created by IPTA, Australian business people present their independent views about the innovation patent and also the ramifications should it be abolished. Australian innovators seeking IP protection may desire to give advance consideration for the Australian innovation patent system even though it still exists.
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