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Latest news
5 May 2011
GMiA welcomes an important amendment to the Intellectual Property Laws to support innovation by encouraging investment in research and technology in Australia
Members of GMiA strongly welcome the Federal Government’s step of including the Intellectual Property Laws Amendment (Raising the Bar) Bill 2011 on its list of legislation for introduction in the 2011 parliamentary winter sitting.
The purpose of the Bill is to make improvements to intellectual property (IP) rights legislation to better meet the objectives of the IP rights system to support innovation by encouraging investment in research and technology in Australia and by helping Australian business benefit from their good ideas.
At present Australia’s patentability standards are set at a level that is lower than the standards set in countries who are our major trading partners.
The current balance of laws is not in the public’s best interest. Patents that have been invalidated in other jurisdictions, continue to deliver the owners of these patents rents in Australia, resulting in higher prices to the Australian public. Local researchers are disadvantaged given the broader reach of Australian patents. Granting of weak patents restricts innovation, competition and diffusion of knowledge AND unnecessarily increases the cost to the public.
GMiA commends the Government on the Bill as the proposed amendments, as included in the exposure draft of the Bill released on 3 March 2011, overall, go a significant way toward achieving the right balance between granting strong patents, stimulating research, the interests of patentees, and the interests of society.
GMiA commends the Government on an excellent consultation process in the development of this Bill. The resulting Bill reflects the input and perspectives of many stakeholders. GMiA urges the Government to enact the Bill as speedily as possible.