Inventors in Australia and New Zealand can look forward to a faster, cheaper and more streamlined trans-Tasman patent process, following an agreement between the two countries to an implementation plan that will deliver a single application process for both countries by early 2013, and a single patent examination by June 2014.

 

A single patent application and examination process for both countries will remove duplication, drive efficiencies and reduce costs, making it easier for businesses to protect their intellectual property in both countries.

 

Australian Innovation Minister Senator Kim Carr said the single examination process made sense because most of the applications filed in New Zealand are also filed in Australia.

 

“To succeed in the tough global marketplace, both Australia and New Zealand will need successful innovators, and lots of them. It is the Government’s role to encourage innovation, not hinder it with unnecessary administration processes,” Senator Carr said.

 

“By moving to align the application processes we will remove duplication and reduce costs. We believe the single pathway to patent protection across Australia and New Zealand will in turn encourage inventors and businesses.”

 

The savings in professional costs alone could be as high as $2,000 to $5,000 per invention — money that should and will stay in the pocket of the innovator.

 

The single patent process is part of a suite of intellectual property initiatives proposed under the trans-Tasman Single Economic Market.