According to the latest IP Australia report, applications for patents, trade marks and design rights in Australia all grew in 2017. Trade marks even reached a record peak. Sounds like good news.
However, the main driver of this growth was from overseas (or non-resident) applicants. In fact, trade mark filings by non-residents increased by 25 percent and design filings by non-residents increased by 9 percent year-over-year.
What can we take away from this? The statistics suggest there is: a) more growth in innovation and originality being driven by non-resident inventors and companies who want to protect their rights in Australia, or b) Australians are simply doing proportionately fewer filings to protect their innovations.
Both issues present a major challenge to Australia. We are on a path to transform our economy towards knowledge-based industries to become more globally competitive, yet we are being outdone by foreign counterparts in our own backyard when it comes to creating and protecting ideas.
There is clearly more work to be done to drive original thinking, innovation and protection of ideas by Australians in Australia.