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
13 April 2015
The Value of Understanding Your IP
When faced with a question on the IP strategy or management of your business, many business owners fail to appreciate the significance or the value of the answer that they give. IP, or intellectual property, refers to all of the intellectual property rights that your business has and can gain value from. Many people restrict their understanding of intellectual property to patent protection. However, depending on the nature of your business, your intellectual property rights could also include trade marks, designs, confidential information, copyright, know-how and/or trade secrets. There is a commercial value for your business in all such intellectual property rights. To best leverage this commercial value, you need to develop an awareness and understanding of what IP rights your business has.
Developing this understanding could begin within your own business and might include such questions as:
• What formal IP protection do we currently have?
• How is revenue and/or value being generated from that formal IP protection?
• How much is being spent on or allowed for protecting IP that is generated by our organisation?
• What and how is innovation taking place in our organisation on a daily basis?
• Is this innovation being recognised and/or used? If not, what does happen to it?
Having considered the answers to these questions, you may then want to consider connecting with an IP adviser that you feel has a good understanding of your business and your plans going forward. Such an adviser can add great commercial value to your business by assisting you with the development of an IP strategy that suits your commercial environment and the growth of your business.
With this strategy in place, you should then have a clearer understanding of what investors would term as your “IP position”. Should your organisation subsequently develop new products, processes or concepts or acquire a company with its own IP, your IP position will naturally change. Your IP position will also be influenced by the nature of the commercial marketplace that your business is operating in. Your IP adviser will be in the best position to advise you when your IP position changes. However, you should always consider the following in regard to your business.
1. What type of IP protection is available for the newly acquired IP and what commercial value is it likely to have? What commercialisation options are available?
2. Conduct an assessment and analysis of all existing IP rights in your commercial marketplace. This naturally provides a wealth of market intelligence that can assist with your current commercial endeavours and provide information on future directions. The assessment should generate a comprehensive picture of the state of play in your marketplace: who is developing what technology, when were they developing it, and what are they going to do now. It will also reveal your potential competitors, partners, licensees, licensors, assignees and assignors.
3. Do you have Freedom to Operate (FTO) in your commercial marketplace with this IP? Would you infringe a competitor’s IP right with this IP? That is, having your own IP right does not necessarily guarantee that you have FTO, so this should be investigated before commercial operations begin. All of this information will put you in a much better position to make current and future business decisions such as whether the sale, license or assignment of the IP should be considered or kept and used in-house, future R&D directions and/or acquisition plans or even the viability of the business itself. We strongly recommend that any business employ an independent IP adviser who has a good understanding of your commercial marketplace. This will enable you to make the most of the IP rights that your business currently has to maximise your business growth.
Sarah Herbert
Associate
13 March 2015
IP and Business Resource Information from Senior WIPO Experts
As advised in our earlier blog, the World Intellectual Property Organisation (WIPO) Roving Seminar Series came to Sydney on Wednesday 11 March 2015. A wealth of IP strategy, innovation and business development resources were presented by senior WIPO experts to an audience of attorneys, commercialisation and IP practitioners and business representatives. Practical information for utilising the latest developments and trends in intellectual property in Australia and around the world was the focus of the day.
Mr Yoshiyuki Takagi, the Assistant Director General of WIPO’s Global Infrastructure Sector, commented that brand value and new technology innovation were critical to the development of a successful business. In this knowledge-based economy, platforms and tools are needed to provide up-to-date information in real time. Global databases containing current data on patents, trade marks and designs, available at both WIPO and at IP Australia, provide access to a vast quantity of key global IP knowledge and are freely available for access by both practitioners and their clients. Databases such as Patentscope, Global Brand Database, Global Design Database, WIPO Pearl and WIPO Lex can all be accessed at http://www.wipo.int/reference/en/
Similarly, the Romarin database for international trade marks under the Madrid system and the Hague Express for details of industrial designs registered under the Hague system can be accessed at this link. Knowledge is also shared globally through WIPO Green, WIPO Re:Search and WIPO SME databases, which can be accessed through the following links:
https://webaccess.wipo.int/green/
http://www.wipo.int/research/en/
http://www.wipo.int/sme/en
Mr Victor Vazquez (WIPO), Mr Ben Mitra-Khan (IP Australia) and Mr Neil Wilson (WIPO) provided information to the audience about optimising their use of these databases. Ms Christine Bonvallet (ePCT Legal Division) presented the latest updates on the ePCT system (one application, one language, one office) and Mr Victor Vazquez presented on practical tips for alternative dispute resolution in IP disputes.
The Sydney Roving Seminar heard from Dr Kevin Cullen, the Chief Executive Officer from NewSouth Innovations, on Easy Access IP. Easy Access IP is an international collective of Universities and Research Institutions who believe in creating impact from research outcomes via knowledge exchange. The purpose is to create impact from university research outcomes, as opposed to monetary aims, and is designed to be a simple process for industry to use. In return for free access to real world, relevant research and IP, a licensee using Easy Access IP is required to:
• demonstrate how they will create value for society and the economy;
• acknowledge the licensing institution as the originator of the intellectual property;
• report annually on the progress on the development of the Easy Access IP;
• agree that if the IP is not exploited within three years, the licence will be revoked;
• agree that there will be no limitations on the licensees use of the IP for the university’s own research
If you are interested in any of the topic areas and would like further information, please do not hesitate to contact us. We look forward to utilising these tools to assist with your business growth.
Mr Yoshiyuki Takagi, the Assistant Director General of WIPO’s Global Infrastructure Sector, commented that brand value and new technology innovation were critical to the development of a successful business. In this knowledge-based economy, platforms and tools are needed to provide up-to-date information in real time. Global databases containing current data on patents, trade marks and designs, available at both WIPO and at IP Australia, provide access to a vast quantity of key global IP knowledge and are freely available for access by both practitioners and their clients. Databases such as Patentscope, Global Brand Database, Global Design Database, WIPO Pearl and WIPO Lex can all be accessed at http://www.wipo.int/reference/en/
Similarly, the Romarin database for international trade marks under the Madrid system and the Hague Express for details of industrial designs registered under the Hague system can be accessed at this link. Knowledge is also shared globally through WIPO Green, WIPO Re:Search and WIPO SME databases, which can be accessed through the following links:
https://webaccess.wipo.int/green/
http://www.wipo.int/research/en/
http://www.wipo.int/sme/en
Mr Victor Vazquez (WIPO), Mr Ben Mitra-Khan (IP Australia) and Mr Neil Wilson (WIPO) provided information to the audience about optimising their use of these databases. Ms Christine Bonvallet (ePCT Legal Division) presented the latest updates on the ePCT system (one application, one language, one office) and Mr Victor Vazquez presented on practical tips for alternative dispute resolution in IP disputes.
The Sydney Roving Seminar heard from Dr Kevin Cullen, the Chief Executive Officer from NewSouth Innovations, on Easy Access IP. Easy Access IP is an international collective of Universities and Research Institutions who believe in creating impact from research outcomes via knowledge exchange. The purpose is to create impact from university research outcomes, as opposed to monetary aims, and is designed to be a simple process for industry to use. In return for free access to real world, relevant research and IP, a licensee using Easy Access IP is required to:
• demonstrate how they will create value for society and the economy;
• acknowledge the licensing institution as the originator of the intellectual property;
• report annually on the progress on the development of the Easy Access IP;
• agree that if the IP is not exploited within three years, the licence will be revoked;
• agree that there will be no limitations on the licensees use of the IP for the university’s own research
If you are interested in any of the topic areas and would like further information, please do not hesitate to contact us. We look forward to utilising these tools to assist with your business growth.
Sarah Herbert
Subscribe to:
Posts (Atom)