Recently we reported on the Government's plans to abolish Australia's second tier patent system, the innovation patent.
The decision to abolish the innovation patent system appears to have been made without due consideration being given to the views of Australian small and medium sized business owners, the main users of the innovation patent.
For past year, the Institute of Patent and Trademark Attorneys of Australia (IPTA) has been liaising with many Australian businesses and the consistent message from this work is that the innovation patent system represents an important tool for: protecting inventions; attracting investment funds; and ensuring inventions come to market for the benefit of the Australian public.
IPTA has produced the following video in which Australian business owners present their independent views about the innovation patent and the ramifications should it be abolished.
Clearly, the proposed abolition of the innovation patent system will have detrimental results for Australian business owners and their ability to innovate. For this reason, the Government must reconsider its decision to abolish the innovation patent.
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