For some time now, the Australian innovation patent has provided SMEs and large firms with a cost-effective pathway for inventions that are expected to have market relevance for a limited period of time.[1] Whereas innovation patents provide up to 8 years of protection, standard patents provide up to 20 years of protection.[2]
Innovation patents have been for inventions that provide ‘incremental advance[s] on existing technology’ as opposed to standard patents that must show evidence of ‘inventive step’ or, in other words, a substantial advancement in technology.[3]
The 18-month phase out period of the innovation patent commenced in February 2020 which means that those interested in filing an innovation patent now have until 25 August 2021 to do so.[4] This is disappointing news for many who have an interest in filing for an innovation patent which has a lower bar of entry.[5] Nevertheless, the government’s decision to phase out the Australian innovation patent is understandable, in light of the way large litigators have mis-used this type of patent.[6]
Those who have filed an innovation patent application before 25 August 2021 will not be disadvantaged as the innovation patent will remain protected up to its expiry date as long as it is filed before 25 August 2021.[7]
If you wish to take advantage of this closing window to obtain innovation patent protection before 25 August 2021, please contact us as soon as possible.
[1] IP Australia, ‘Types of Patents’, IP Australia (11 November 2020), https://www.ipaustralia.gov.au/patents/understanding-patents/types-patents
[2] Ibid.
[3] Ibid.
[4] IP Australia, ‘Phase out of the innovation patent’, IP Australia (7 April 2021), https://www.ipaustralia.gov.au/patents/applying-patent/innovation-patent-application-process/phase-out-innovation-patent.
[5] IP Australia, ‘Types of Patents’, IP Australia (1 November 2020), https://www.ipaustralia.gov.au/patents/understanding-patents/types-patents
[6] IP Australia, ‘Phase out of the innovation patent’, IP Australia (7 April 2021), https://www.ipaustralia.gov.au/patents/applying-patent/innovation-patent-application-process/phase-out-innovation-patent.
[7] IP Australia, ‘Types of Patents’, IP Australia (1 November 2020), https://www.ipaustralia.gov.au/patents/understanding-patents/types-patents.
