A report on the activity of businesses and people applying to IP Australia to protect trademarks and designs in 2017 reveals confidence in the local economy, according to the Director General of the Agency, Patricia Kelly.
Ms Kelly said the Agency’s flagship publication, the Australian IP Report, showed that 2017 was a strong year for trade mark and design applications.
“Demand for both trade marks and designs grew by seven per cent in 2017, fuelled by increased overseas demand for rights in Australia,” Ms Kelly said.
“IP Australia received 76,594 trade mark applications and 7,708 applications for registered designs.
“Australian residents made up 61 per cent of total Australian trade mark applications in 2017, with the majority of applicants being small to medium-sized enterprises and private individuals.”
She said filings by non-residents grew by 25 per cent over the year, indicating confidence in the Australian market from overseas businesses.
“Standard patent applications grew by two per cent in 2017, continuing a gradual upward trend,” Ms Kelly said.
“Australian residents file more than three times as many patent applications overseas as they do in Australia, with the United States the most popular destination.”
She said these were positive trends.
“Australia is a small market compared to the rest of the world and it is encouraging to see Australian innovators moving to protect their innovations and pursue returns in world markets,” Ms Kelly said.
IP Australia’s 48-page report can be accessed at this PS News link.
