Parliament backs abolition of innovation patents

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The federal parliament has backed the government's move to abolish innovation patents.

The Productivity Commission recommended the change in its 2016 review of intellectual property arrangements.

The federal government accepted the recommendation in its detailed response, saying, "The Government notes that the innovation patent system was established with the objective of stimulating innovation in Australian SMEs. The Government considers that more targeted assistance would better achieve this objective, while avoiding the broader costs imposed by the innovation patent system."

In its submission to a Senate inquiry on the changes, AusBiotech expressed 'disappointment' over the abolition of innovation patents.

"AusBiotech has always held the view that while there were issues with the Innovation Patent system, abolition of the system was an extreme and incorrect response to those issues," it said.

"Rather, AusBiotech has supported the conduct of an enquiry into alternatives that might improve the Innovation Patent system in three key areas: raising the innovation threshold; requiring examination prior to grant; and setting an examination deadline."