Innovation patent is gone - What is next?

The innovation patent system was intended to be a second tier patent system. Advantageously, the innovation patent served the needs of Small to Medium Enterprises (SMEs) finding it difficult to obtain standard patent protection due to cost or lack of an inventive step required for standard patents.  Despite the advantages of the innovation patent system in serving its intended purpose, the Australian Government abolished it on the basis of it serving unintended purposes such as a highly effective litigation tool.  

The decision certainly affects some Australian businesses.  As with any change, the abolition of the innovation patent system may also bring opportunities to reconsider how other intellectual property rights can be used to advance business interests of Australian SMEs.  There is certainly no shortage of mechanisms to protect intellectual property (IP) rights.  Those who adapt to the changes may, in fact, find themselves in a better position overall by