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ARTICLE · 20 FEBRUARY 2022

New framework for intellectual property commercialisation in Australia

Bennett & Philp Lawyers
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Improving research commercialisation to secure Australia's economic and industrial future is a top government priority.

AustraliaIntellectual Property
Michael Finney
Michael Finney
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Improving research commercialisation to secure Australia's economic and industrial future is a top Australian Government priority. As such, the 2020-21 Australian Government Budget provided $5.8 million to scope a University Research Commercialisation Scheme to better translate and commercialise university research outputs.

In response to perceived constraints in university-industry research collaboration and the 'considerable scope for improvement' in the translation of knowledge into new products and services for Australia, the Commonwealth Department of Education, Skills and Employment (DESE) released a Consultation Paper on 20 September 2021 in respect of a proposed Higher Education Research Commercialisation Intellectual Property Framework (HERC IP Framework). The Consultation Paper is available now and can be accessed by clicking here.

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