The Federal Government has recently launched a review into Australia’s patents system in order to support innovation in small and medium-sized businesses/enterprises (SMEs).
The review will delve into the accessibility for SMEs to ensure the intellectual property framework supports their needs.
The review is a part of a suite of initiatives the Government will roll out over the coming months to improve Australia’s intellectual property system – including an SME case management service, the SME fast track service, a dedicated outreach program and an online portal.
Further, the review is also a requirement of the Intellectual Property Laws Amendment (Productivity Commission Response Part 2 and Other Measures) Act 2020, which was introduced by the Government and received Royal Assent in February 2020.
The review welcomes submissions from SMEs who use or are considering using the patent system in Australia and overseas, interested stakeholders and members of the public.
The review will commence in the coming months and run for six months, with the final report being delivered to the Government by May 2021.
If you require further assistance with respect to the above or would like to know more, you are welcome to contact our team of experienced lawyers and accountants to call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange conference or appointment.