http://biotechdispatch.com.au/ausbiotech-disappointed-as-rd-tax-incentives-1-5-cut-returns-to-parliament/#sthash.cSASvKrS.Gu8Fkpl1.dpbs
28 May 2015
IP Springtime in the USA
I have recently returned from the AIPLA Spring meeting in Los Angeles and the INTA meeting in San Diego. Both meetings were great for reacquainting myself with some existing American, Asian and European IP practitioners and meeting some new ones too.
I found the general mood in the US to be reasonably buoyant – the attendance at both meetings was very strong (about 13,000 estimated at INTA). In all, I think the recovery of economic confidence in the US and other western countries seems to be progressing so, at least to the extent that can be observed through the prism of the IP community.
The presence of Chinese and especially Indian IP firms at these events is also growing strongly. I met with several Indian delegates at INTA and the professionalism and determination of their marketing efforts at these international events is hard to miss. I have made some connections with some good professionals that I hope will make it easier for our clients to gain solid IP protection in Asia.
San Diego was an excellent choice as host for INTA – thankfully the weather was kinder than in Hong Kong last year and everything was in relatively easy walking distance from the San Diego Convention Centre. I am looking forward to returning to San Diego at some point in the future to have a better look at the place.
I am also looking forward to doing it all again in Orlando, Florida next year!
by Adam Hyland
I found the general mood in the US to be reasonably buoyant – the attendance at both meetings was very strong (about 13,000 estimated at INTA). In all, I think the recovery of economic confidence in the US and other western countries seems to be progressing so, at least to the extent that can be observed through the prism of the IP community.
The presence of Chinese and especially Indian IP firms at these events is also growing strongly. I met with several Indian delegates at INTA and the professionalism and determination of their marketing efforts at these international events is hard to miss. I have made some connections with some good professionals that I hope will make it easier for our clients to gain solid IP protection in Asia.
San Diego was an excellent choice as host for INTA – thankfully the weather was kinder than in Hong Kong last year and everything was in relatively easy walking distance from the San Diego Convention Centre. I am looking forward to returning to San Diego at some point in the future to have a better look at the place.
I am also looking forward to doing it all again in Orlando, Florida next year!
by Adam Hyland
25 May 2015
Brave New World, or Another Spin on the Policy Merry-Go Round
Impact of 2015/2016 Federal Budget on Australian Innovation
An “innovation based economy” is a concept that is receiving considerable attention in Australia at present, particularly with the release of the 2015/2016 Federal budget. Mining, Services, Agriculture and manufacturing have long formed the basis of Australia’s economic endeavour. In recent years, factors including tariff reductions, a strong Australian dollar and the rise of Chinese manufacturing have wreaked havoc on the Australian manufacturing sector. However, Australia has significant strengths in some areas of manufacturing, and in software development, and these have not received the practical support that they deserve. This is starkly apparent when compared to the support available in most other OECD countries for innovative manufacturing and innovation in general.
If Australia is to remain competitive in an increasingly technology-driven global economy, changes are needed to encourage investment in innovative Australian start-up companies and commercialisation of Australian invention. As the “mining boom” in Australia declines, the latest budget has laid out measures which are designed to establish an economy based on innovation and technology rather than one so heavily reliant on the extraction of natural resources.
In an attempt to encourage entrepreneurial activity, tax measures for small business are the single biggest spending items in this years' Budget. These cuts form the basis of a $5.5 billion “Small Business Package” from the Federal government, aimed at "making Australia one of the best places to start and grow a small business," according to budget papers. The package includes $3.25 billion in tax cuts, $1.7 billion in accelerated depreciation measures, $70 million to support start-up companies and $40 million on measures that will cut red tape.
A start-up company will be allowed to:
• immediately deduct professional expenses incurred when they launch their business;
• provide access to tax breaks on shares employees receive as part of their salary;
• access finance provided by crowd sourced equity funding, such that start-ups can rise funding through large numbers of retail investors
Business registration processes have also been streamlined. Any business with an annual turnover under $2 million will be able to access the following:
• immediate tax deductions for as many sub-$20,000 purchases as they make until June 30, 2017, rather than having to claim those purchases as deductions spread over several years.
This also includes professional costs such as business advice, legal fees and fees paid to ASIC. This is a significant increase from the current instant asset write-off of just $1,000.
• a reduction in the corporate tax rate from the current 30% to 28.5%;
• removal of capital gains tax for changing company structure (effective from the 2016/17 financial year).
Overall, the total bill for industry support was cut by $1 billion over four years, including $340 million from R&D grants as the government shifted the emphasis from subsidies and assistance for specific industries and innovation activity to broader, and smaller, support programs. It remains to be seen if this is a wise place to seek economies, given the urgent need to develop and grow innovative businesses.
http://www.afr.com/news/policy/budget/federal-budget-2015-treasurer-joe-hockey-gives-microfirm-innovation-tax-breaks-20150512-gguy01
http://www.abc.net.au/news/2015-05-12/budget-2015-small-business-tax-breaks/6464928
http://www.cio.com.au/article/574796/budget-2015-tax-breaks-small-business-more-support-startups/
by Peter Franke & Sarah Herbert
An “innovation based economy” is a concept that is receiving considerable attention in Australia at present, particularly with the release of the 2015/2016 Federal budget. Mining, Services, Agriculture and manufacturing have long formed the basis of Australia’s economic endeavour. In recent years, factors including tariff reductions, a strong Australian dollar and the rise of Chinese manufacturing have wreaked havoc on the Australian manufacturing sector. However, Australia has significant strengths in some areas of manufacturing, and in software development, and these have not received the practical support that they deserve. This is starkly apparent when compared to the support available in most other OECD countries for innovative manufacturing and innovation in general.
If Australia is to remain competitive in an increasingly technology-driven global economy, changes are needed to encourage investment in innovative Australian start-up companies and commercialisation of Australian invention. As the “mining boom” in Australia declines, the latest budget has laid out measures which are designed to establish an economy based on innovation and technology rather than one so heavily reliant on the extraction of natural resources.
In an attempt to encourage entrepreneurial activity, tax measures for small business are the single biggest spending items in this years' Budget. These cuts form the basis of a $5.5 billion “Small Business Package” from the Federal government, aimed at "making Australia one of the best places to start and grow a small business," according to budget papers. The package includes $3.25 billion in tax cuts, $1.7 billion in accelerated depreciation measures, $70 million to support start-up companies and $40 million on measures that will cut red tape.
A start-up company will be allowed to:
• immediately deduct professional expenses incurred when they launch their business;
• provide access to tax breaks on shares employees receive as part of their salary;
• access finance provided by crowd sourced equity funding, such that start-ups can rise funding through large numbers of retail investors
Business registration processes have also been streamlined. Any business with an annual turnover under $2 million will be able to access the following:
• immediate tax deductions for as many sub-$20,000 purchases as they make until June 30, 2017, rather than having to claim those purchases as deductions spread over several years.
This also includes professional costs such as business advice, legal fees and fees paid to ASIC. This is a significant increase from the current instant asset write-off of just $1,000.
• a reduction in the corporate tax rate from the current 30% to 28.5%;
• removal of capital gains tax for changing company structure (effective from the 2016/17 financial year).
Overall, the total bill for industry support was cut by $1 billion over four years, including $340 million from R&D grants as the government shifted the emphasis from subsidies and assistance for specific industries and innovation activity to broader, and smaller, support programs. It remains to be seen if this is a wise place to seek economies, given the urgent need to develop and grow innovative businesses.
http://www.afr.com/news/policy/budget/federal-budget-2015-treasurer-joe-hockey-gives-microfirm-innovation-tax-breaks-20150512-gguy01
http://www.abc.net.au/news/2015-05-12/budget-2015-small-business-tax-breaks/6464928
http://www.cio.com.au/article/574796/budget-2015-tax-breaks-small-business-more-support-startups/
by Peter Franke & Sarah Herbert
08 May 2015
Unsolicited Intellectual Property Services
We have recently received the following notification from IPAustralia and wanted to remind our clients to be aware of who they are paying invoices to and for what services. If you have any questions or concerns about any unsolicited invoices that you have received or paid recently, or if the notification below raises any concerns for you, please do not hesitate to contact us:
Unsolicited intellectual property services to customers
Some IP Australia customers have reported receiving unsolicited or misleading invoices from companies offering services to protect or promote their intellectual property (IP) rights in return for a fee.
You should be cautious of unsolicited or seemingly fraudulent IP protection, promotional or advertising services sent to you from companies other than IP Australia or your legal representative.
Carefully consider before paying
Companies who send you unsolicited invoices or letters may offer to:
• register or renew your IP right for a fee
• publish your patent or trade mark in an international publication or register
• provide a monitoring service for your patent or trade mark.
In some cases these invoices have the appearance of coming from an official source. Many customers believe they are required to pay for the services outlined.
The companies sending such invoices are not linked to any Government or IP Office and you are NOT obliged to pay their fees.
Before paying a fee for any IP related service, we recommend that you carefully consider what, if any, protection, promotion, or other value the service will provide. If you are in any doubt about an invoice you have received, please check with your patent or trade mark attorney, solicitor, inventors association or with us at IP Australia.
See our list of companies that we know send unsolicited requests on our website.
Reporting a misleading invoice
If you think your invoice is misleading please send us a copy. If we believe it is misleading we will list the company on our website to warn others. You can send a copy to our Fraud Control Officer via email or post.
Email: fraud.control@ipaustralia.gov.au
Post: Fraud Control Officer PO Box 200 WODEN ACT 2606
You can also report your misleading invoice to the following organisations that may have the power to act:
• Australian Competition and Consumer Commission (ACCC)
• Australian Securities and Investments Commission (ASIC)
• the Department of Fair Trading in your respective state
The ACCC provides information to consumers and small businesses on their website SCAMwatch to help you recognise, avoid and report scams.
Your IP rights and Privacy
Be aware that your details become publicly available once you have filed for an IP right. Please view our privacy policy for further information about how we handle your personal information.
We publish personal information on the internet or in online databases relating to IP rights that may be accessed by individuals anywhere in the world. We have no control over the subsequent use and disclosure of that personal information and cannot be accountable for any subsequent use under the Privacy Act 1988.
However IP Australia aims to assist, where possible, in combatting any misuse of your personal information and in limiting the possibility of paying avoidable fees.
Yours sincerely
Patricia Kelly
Director General
IP Australia
by Sarah Herbert
Unsolicited intellectual property services to customers
Some IP Australia customers have reported receiving unsolicited or misleading invoices from companies offering services to protect or promote their intellectual property (IP) rights in return for a fee.
You should be cautious of unsolicited or seemingly fraudulent IP protection, promotional or advertising services sent to you from companies other than IP Australia or your legal representative.
Carefully consider before paying
Companies who send you unsolicited invoices or letters may offer to:
• register or renew your IP right for a fee
• publish your patent or trade mark in an international publication or register
• provide a monitoring service for your patent or trade mark.
In some cases these invoices have the appearance of coming from an official source. Many customers believe they are required to pay for the services outlined.
The companies sending such invoices are not linked to any Government or IP Office and you are NOT obliged to pay their fees.
Before paying a fee for any IP related service, we recommend that you carefully consider what, if any, protection, promotion, or other value the service will provide. If you are in any doubt about an invoice you have received, please check with your patent or trade mark attorney, solicitor, inventors association or with us at IP Australia.
See our list of companies that we know send unsolicited requests on our website.
Reporting a misleading invoice
If you think your invoice is misleading please send us a copy. If we believe it is misleading we will list the company on our website to warn others. You can send a copy to our Fraud Control Officer via email or post.
Email: fraud.control@ipaustralia.gov.au
Post: Fraud Control Officer PO Box 200 WODEN ACT 2606
You can also report your misleading invoice to the following organisations that may have the power to act:
• Australian Competition and Consumer Commission (ACCC)
• Australian Securities and Investments Commission (ASIC)
• the Department of Fair Trading in your respective state
The ACCC provides information to consumers and small businesses on their website SCAMwatch to help you recognise, avoid and report scams.
Your IP rights and Privacy
Be aware that your details become publicly available once you have filed for an IP right. Please view our privacy policy for further information about how we handle your personal information.
We publish personal information on the internet or in online databases relating to IP rights that may be accessed by individuals anywhere in the world. We have no control over the subsequent use and disclosure of that personal information and cannot be accountable for any subsequent use under the Privacy Act 1988.
However IP Australia aims to assist, where possible, in combatting any misuse of your personal information and in limiting the possibility of paying avoidable fees.
Yours sincerely
Patricia Kelly
Director General
IP Australia
by Sarah Herbert
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