26 September 2023

IP overviews intellectual property

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IP Australia has adopted the theme of the digital economy for its Australian Intellectual Property Report 2020, which has just been released.

The Report, in its eighth edition, provides an overview of intellectual property (IP) in Australia.

IP Australia said interactive data visualisations in the report allowed readers to engage with the data directly.

It said the highlights of the Report included findings that:

* Businesses with IP rights survive on average five years longer than firms without IP rights; have an average of more than 10 times as many staff; and have double the average profitability per employee.

* Firms with patents and trademarks have four times the profitability.

* A record number of applications were filed at IP Australia in 2018 but a slight decline was noted in 2019.

* The United States, China, Japan, Germany and the United Kingdom were the top five countries of origin for patent applications filed in Australia in 2019 and there was a 46 per cent year-on-year growth in standard patent applications originating from China.

* Design applications relating to information and communications technology effectively trebled in the past decade, almost doubling their share of total applications. IP Australia said this may reflect increasing design innovation activity overall in Australia’s digital economy.

IP Australia’s 51-page report can be accessed at this PS News link.

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