Abolition of the Innovation Patent System May Prove Detrimental to Australian SMEs

The Institute of Patent and Trade Mark Attorneys of Australia (IPTA) has stated that the government’s proposed abolition of the innovation patent system will “seriously disadvantage Australian SMEs attracting finance to commercialise their innovations by removing the simplest and lowest cost means of protecting their intellectual property.” The Innovation Patent System (IPS) was introduced in 2001 to encourage local SMEs to innovate. In 2016, over 2,000 applications for innovation patents were filed. The IPS allows Australian inventors and SMEs to protect […]

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