AusBiotech is preparing an industry submission in response to the Productivity Commission’s Intellectual Property Arrangements Draft Report, which was released in April 2016, and invites members to contribute comment by Thursday 2 June.
AusBiotech does not agree that the Innovation Patent system should be abolished, and instead proposes serious consideration be given to improving the system. Nor does AusBiotech agree that the objects clause proposed in the Draft Report is suitable.
AusBiotech supported the ‘Raising the Bar’ Act and would like to see it given time to settle and its impact properly assessed before further changes are considered.
AusBiotech supports an extension to data exclusivity periods for biologics and an efficient and effective IP system for Australia, which balances the needs of innovators and third parties. Users of the IP registration systems must have confidence that the IP rights awarded are likely to be held valid in any subsequent court assessment.
AusBiotech contends that the removal or reduction of the patent extension term, will impact investment decisions and make the attraction of investment even harder than it is now. While the patent term extension is obviously not the only factor on which an investor will make a decision, the total term available does in fact influence the risk profile and affect decisions.
In response to the Commission's recommendation to amend the definition of an “inventive” step in Australia to bring it into line with the definition used in Europe, AusBiotech raises the question of when the analysis was conducted, before or after the ‘Raising the Bar’ legislation was enacted, and is this recommendation relevant since the changes took effect in 2013 to align with Europe.
The Draft AusBiotech submission can be found here. Members are invited to comment on the Draft, until midday Thursday 2 June, by contacting Lorraine Chiroiu, Chief Industry Affairs Officer (email@example.com/ 0429 801 118.