Australian patent applications surged 10 per cent last year

Last year saw a surge in demand for intellectual property protection, according to a statement from the federal assistant minister for innovation.

Patent applications increased by 10 per cent, trademark filings by 14 per cent, plant breeder’s rights by 5 per cent and design filings reached a record number in 2015.

Wyatt Roy, assistant innovation minister, said he was pleased to see demand for intellectual property protection keeping pace with global trends.

“In a globalised economy, the value of IP rights is an important contributor to trade and economic growth,” said Roy in the statement.

“The IP rights that protect new ideas and products provide incentives for innovation and they are also an indication of our innovation outcomes.”