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“Unlike a mining boom, an innovation boom is a boom that can continue forever, … limited only by our imagination.” – Prime Minister, Malcolm Turnbull Earlier this month Australia paused to dissect and digest the Federal Government’s 2017/18 Budget – to gain an understanding of what it does, or doesn’t deliver for Australia’s future. For many there was great anticipation …

Mines of tomorrow The mining industry must fully embrace innovation in order to build the mines of tomorrow and increase the growth and productivity. This was the conclusion drawn from a recent Innovation in Mining: Australia 2016 Report (the Report) released by Deloitte in association with Diggers and Dealers and the Association of Mining and Exploration Companies (AMEC). The Report …

A huge portion of a company’s value rests on its underlying intellectual property (IP). Market share often rests in a brand name and margins often rest on know-how and experience. Whether or not this IP is adequately identified and managed can mean the difference between valuing your company correctly and selling your company short. That value is important because it …

Permission to fly On 25 September 2016 amendments were made to the Civil Aviation Safety Regulations part 101 in response to Australia’s rapidly growing Remotely Piloted Aircraft (RPA) or ‘drone’ industry. The amendments consolidate all the rules applicable to RPAs into one body of legislation. The changes to the rules governing the use of commercial RPAs will make it easier …

Intangible assets, which include intellectual property as a primary component, comprise anywhere from 50%-85% of your organisation’s capital value. The following questions for management will assist directors to show compliance with directors’ duties and help ensure sound IP governance practices are in place. As with physical assets, such as land, plant and equipment, management should be delegated the operational responsibility …

In Australia, it is possible to extend the term of a patent beyond 20 years provided that certain conditions are met. The Administrative Appeals Tribunal’s (AAT) decision in AbbVie Biotechnology Ltd v Commissioner of Patents [2016] AATA 682 has clarified that term extensions are available for a broader class of patents for biologic pharmaceutical products than non-biologic pharmaceuticals. This decision …

On the horns of a dilemma Over the last two decades, Australia has welcomed uninterrupted economic growth which has resulted in improved living standards, better health outcomes, higher incomes and a growing investment in the environment, education and community. The Organisation for Economic Co-operation and Development (OECD) have defined Innovation as the implementation of a new or significantly improved product …

(Apotex Pty Ltd v Warner-Lambert Company LLC (No 3) [2017] FCA 94) The recent decision of Apotex Pty Ltd v Warner-Lambert Company LLC (No 3) [2017] FCA 94 (Apotex No 3) highlights the importance of the timing of an application to list a generic pharmaceutical product pursuant to the Australian Pharmaceutical Benefits Scheme (PBS). Apotex No 3 arises from a …

Under the 2009 Single Economic Market (SEM) agenda, the New Zealand and Australian Governments agreed a joint work programme to remove regulatory barriers to IP attorneys and firms operating in both markets. The key intellectual property outcome under the SEM agenda was the development of a single regulatory framework for patent attorneys in Australia and New Zealand with the same …