PR: Inventors to receive better trans-Tasman patent process

Inventors in Australia and New Zealand can look forward to a faster, cheaper and more streamlined trans-Tasman patent process, announced Australia’s Innovation Minister, Senator Kim Carr, and the New Zealand Commerce Minister, Simon Power.

The Ministers have agreed to an implementation plan that will deliver a single application process for both countries by early 2013, and a single patent examination by June 2014.

A single patent application and examination process for both countries will remove duplication, drive efficiencies and reduce costs, making it easier for businesses to protect their intellectual property in both countries.

Australian Innovation Minister Senator Kim Carr said the single examination process made sense because most of the applications filed in New Zealand are also filed in Australia.

“By moving to align the application processes we will remove duplication and reduce costs. We believe the single pathway to patent protection across Australia and New Zealand will in turn encourage inventors and businesses," Senator Carr said.

The savings in professional costs could be as high as $2,000 to $5,000 per invention — money that should and will stay in the pocket of the innovator.

New Zealand Commerce Minister Simon Power agreed.

“By removing potential barriers we’re trying to create a seamless trans-Tasman business environment and making it easier to conduct business in both countries,” he said.

“This level of patent cooperation is a world first and will give Australian and New Zealand innovators greater confidence when seeking IP protection overseas.”

The single patent process is part of a suite of intellectual property initiatives proposed under the trans-Tasman Single Economic Market.