Parliamentary Secretary for Industry and Innovation Mark Dreyfus is a massive fan of new laws passed last month, designed to strengthen Australia’s intellectual property system.
“Changes to Australia’s intellectual property laws are crucial to Australia’s productivity challenge,” he said.
In case you’re not all caught up on your IP, the Intellectual Property Laws Amendment (Raising the Bar) Bill 2012 overhauls the Australian system. It follows on from the R&D Tax Incentive introduced in ’11 to help the country’s move to what Mr Dreyfus likes to call a “knowledge economy.”
Mr Dreyfus reckoned: “Researchers will benefit from the certainty that they can explore new ideas free from the threat of patent infringement.”
Key features of Raising the Bar include:
• Improved standards for Australian patents
• Greater penalties for trademark infringement
• Less red tape and administrative delays
“Intellectual property is one of the cornerstones of a successful and flourishing innovation environment, which is why our IP system must be robust,” Mr Dreyfus said.
“The reforms demonstrate the Government’s commitment to cut red tape and avoid delays in processing patent applications.”
“There are thousands of Australian business owners who will benefit.”