An Australian innovation patent gives its owner the power to prevent others from making commercial use of an innovation for up to eight years. They’re a quick and cost effective way to obtain strategic protection for products with a short marketable lifetime.
Like standard patents, innovation patents are valuable business assets. They may be used strategically to protect or expand market share and competitive advantage, increase the value of a business, and provide additional revenue streams.
What’s the difference?
An innovation patent has a lower threshold of inventiveness than a standard patent and can be used to protect ideas that might not qualify for protection under a standard patent.
Innovation patents are available in Australia, but not in New Zealand.
Why choose an innovation patent?
Innovation patents are less expensive than standard patents but have a shorter protection period of only eight years. They’re an effective strategy for products with a short marketable lifetime, such as computer-based inventions.
Innovation patents are registered faster than standard patents so can be used to obtain rapid protection of an innovation. Innovation patents are not examined until a request to do so is filed, which can be done any time after registration. The only deadline is that an innovation patent cannot be enforced until it has been examined and certified. Consequently, prosecution costs can be deferred or avoided completely in most instances with examination for certification generally only requested if there is a suspicion of infringement.
An application for a standard patent can be converted to an innovation patent if it does not meet the inventiveness threshold of a standard patent in Australia.
Baldwins’ innovation patent services include:
• searches to determine the ability to use and patent an innovation;
• filing and examination of innovation patent applications;
• oppositions to and revocation of innovation patents; and
• infringement and enforcement of innovation patents.
We operate patent teams in mechanical, electrical and electronic, chemical and biotechnology specialisations. They have a depth of experience in Australian patents, including innovation patents.
For more information, please contact one of our patent specialists today.