Member Spotlight

Paula Durrant, Durrant’s Accounting Services Pty Ltd

Paula Durrant is a tax accountant for small to medium businesses, and high income individuals. Read more

What say you?

Do you take on friends/family as customers?
63% - Sure! The more the merrier.
28% - Sometimes, but tread with caution
8% - No, best to avoid wherever possible
Do you take on friends/family as customers?
 

Patents

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Patents

A patent is a right granted for any device, substance, method or process which is new, inventive and useful.

A patent is legally enforceable and gives the owner the exclusive right to commercially exploit the invention for the life of the patent. You have to apply for a patent in order to protect your invention, as it isn't automatically protected. All applications for patents are examined to ensure they meet the necessary legal requirements for granting a patent.

There are two types of patents in Australia:

  • standard patents
  • innovation patents.

Standard patents

Standard patents provide long-term protection and control over an invention for up to 20 years from the day you file your complete application. Standard patents are normally processed within 14 months.

Innovation patents

Innovation patents last for up to eight years and are specifically designed to protect creations that do not meet the requirements for standard patents. These are generally granted within one month and provide intellectual property rights for innovative ideas or creations that may not necessarily be new inventions. Innovation patents don't allow you to legally stop others from copying your innovation unless you have your innovation patent examined.

What to do...

 
This content is supplied to Flying Solo via business.gov.au, the Australian Government's principal website for business information and resources.
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