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Why extend your clients’ IP rights into Australia?

AUSTRALIAN PCT NATIONAL PHASE, PATENT CONVENTION APPLICATIONS, DESIGN CONVENTION APPLICATIONS, AND INTERNATIONAL TRADE MARK REGISTRATIONS DESIGNATING AUSTRALIA ARE GOOD VALUE OPTIONS FOR MANY APPLICANTS


MARKETS

  • 13th largest economy in the world producing 1.8% of world GDP (by way of comparison, the UK is 6th with 3.2%)
  • With its abundant reserves of mineral and energy resources, Australia continues to play an important role as a major energy exporter to the world (energy and resources exported about A$200 billion in 2016)
  • An important contributor to five sectors expected to drive future global growth: agribusiness, education, tourism, mining and wealth management
  • A business environment that is ranked 14th out of 190 economies for ease of doing business
  • Medical devices are a significant growth area in Australia with revenue of US$11 billion in 2016

“Australian companies lead the world in mining technology, services and equipment because they spend so much of their time and effort in the area of innovation”, Alan Broome, Chairman Emeritus, Austmine


STRONG IP SYSTEM

  • Effective and transparent IP system: quick and consistent legal processes both before and after grant/acceptance
  • Potential for broader patent coverage due to lower inventive step threshold, and innovative step for innovation patents
  • Confidence in the rule of law ranked 13th out of 141 countries
  • Low cost: the Australian innovation patent is perhaps the lowest cost option amongst major advanced economies

GROWTH

  • Entering its 27th year of uninterrupted annual economic growth
  • Forecast to have average annual real GDP growth of 2.8% between 2018 and 2022
  • Increasingly tied to fast-growing economies in Asia

“Australia’s long period of uninterrupted economic growth makes it the Iron Man among the OECD countries”, Angel Gurría, OECD Secretary-General, 14 December 2012 on OECD Economic Survey of Australia


INNOVATION

  • Australia has a Global Innovation Index rank of 23
  • Expenditure on R&D similar to that of other leading innovative countries, such as the USA, Japan, Germany and South Korea, and growth in gross expenditure on R&D is well over the OECD average
  • Australians have invented or helped develop the bionic eye, the bionic ear, Google® Maps, high-speed WiFi, the world’s first cervical cancer vaccine (Gardasil®) and spray-on skin for burns victims
  • Australia’s national science agency, CSIRO, ranks among the world’s top scientific institutions

LOCATION

  • International businesses can tap into Australia’s geographical proximity to, and its deep business and cultural ties with, Asia
  • Ten of Australia’s top 12 goods and services export markets were in the Asia region
  • Australia’s westernised consumer culture makes it an excellent test market for products intended for launch in North America and Europe

“With the Asia-Pacific region at the centre of global growth, Australia is in a unique position as a safe and reliable location from which to service that market”, John Corcoran, Executive Chairman, Global Switch


Quotes, statistics and other information from, or derived from, Austrade and the Global Innovation Index.

Further reading