In April 2022, IP Australia released their 10th edition of the Australian Intellectual Property Report (the Report), and for those with an interest in the number of ﬁlings in the various categories of intellectual property (IP) which IP Australia administers, makes for interesting reading.
The Report is aimed at promoting awareness of IP rights and discussing the latest IP statistics. The Report notes a signiﬁcant up-trend in pharmaceutical patent ﬁlings, which is perhaps unsurprising given the need for novel vaccines and treatments during the COVID-19 pandemic. Additionally, there have been signiﬁcant increases in ﬁlings relating to computer and audiovisual technology, which reﬂects that Australians have adapted to the changes in our social and work environment over this period, and as the economy has moved to a virtual model. Additionally, trade mark and design ﬁlings have grown for products that households invest in when upgrading their homes to create comfortable living and workspaces. The Report also “presents evidence that IP activity is a signiﬁcant forward indicator of employment growth for Australian small and medium enterprises (SMEs)”. Read more