Intellectual property management

The 2008 Biotechnology Intellectual Property Manual will give Victorian researchers a head start in realising the potential of their biotechnology break-throughs.

Innovation Minister Gavin Jennings claimed at the launch that “the Brumby government is taking action to encourage innovation by assisting Victorian researchers and industry to turn their ideas into commercial successes which will promote health, sustainability and prosperity.

“The aim of this manual is to provide a best practice guide to protecting, managing and commercialising intellectual property (IP).

“It takes many millions of dollars to develop new drugs and bring them to market, so it’s vital that we help Victorian researchers to get the greatest possible benefit from their discoveries.

“From 2004 to 2007, Victorian biotechnology companies spent over $500 million on research and development in a bid to help translate early discoveries into real-world applications in the form of new drugs.

“With so much investment at stake, strategic intellectual property management is critical because IP is often the commercial basis for investment.

“It is important that our scientists capture the benefits of their research by protecting their knowledge effectively, which will continue to attract private investment.”

The 2008 Biotechnology Intellectual Property Manual has been developed and funded by a partnership between the Brumby government, Ausbiotech and specialist intellectual property lawyers Spruson & Ferguson.

It contains valuable information about the types of IP available, when to file a patent application and how to commercialise successfully, and will benefit researchers, SMEs and venture capitalists looking to invest in the area.