In its Budget 2022-23, the Australian Government announced major expansions to the proposed ‘Patent Box’ scheme providing concessional tax treatment to eligible income for Australian corporate taxpayers. The Government will now expand the scheme to support innovations in the Australian agricultural sector, specifically: Corporate taxpayers who commercialise their eligible patents linked to agriculture and veterinary […]
Australian Design Law Update
In a major development for Australia commencing on 10th March 2022, publications or use of a design on or after 10th March 2022, will be protected by a 12-month grace period. This development will bring Australia into line with jurisdictions such as the United States of America and Europe and protects product designers against certain inadvertent […]
Methods of Medical Diagnosis are Patentable Inventions in Australia
Ariosa Diagnostics, Inc v Sequenom, Inc [2021] FCAFC 101[1] A recent Full Federal Court of Australia decision held that methods of medical diagnosis are clearly patentable subject matter in Australia. We previously reported the first instance decision of the Federal Court of Australia,[2] which on this issue, has been approved by the Full Federal Court […]
Australia – United Kingdom Free Trade Agreement: Time for an IP Audit?
On 15 June 2021, Australia and the United Kingdom announced an in-principle agreement to enter into a Free Trade Agreement (FTA). The FTA presents opportunities for businesses in both countries. Is it time to conduct an audit of your Intellectual Property Portfolio across Australia and the UK to take advantage of the FTA? Whilst the […]
Australia: Introduction of Patent Box Tax Concessions for Australian Medical and Biotechnology Innovations
In a boost for Australian-based medical and biotechnology innovators, the Australian Government has announced the introduction of a ‘Patent Box’ scheme in its Budget 2021-2022. Whilst the Government will consult with industry before finalising the details of the Patent Box, features are expected to address the following: (a) With effect from 1 July 2022, a […]
Additional Damages Awarded for Plant Breeder’s Rights (PBR) Infringement in Australia
On 24th February 2019, changes were made to the Australian Plant Breeder’s Rights Act 1994 (Cth) (the “Act”) including the introduction of additional damages for PBR infringement (see our article here). In a positive development for international and local owners of new plant varieties, additional damages have now been awarded by the Federal Court of […]