What are they?

A: Commercial assets which gives their owners the right to stop others making, using and selling versions of the inventions. more

How long do they last?

A: Usually 20 years.

Why file?

  • To preserve profit margin by guarding against imitators.
  • To generate new income streams by licensing.
  • To demonstrate to the market that you are innovative.
  • To attract investors.
  • To foster an innovative business culture.

How much do they cost?

Getting an Australian patent often costs about $17,000 + GST over about four or five years. International strategies often cost about $100,000 + GST over the first four years, e.g. if you aim to cover several individual countries plus Europe as a region. more

Can you sell them?

Yes: Patents are commercial assets that can be bought and sold like other assets. They can also be licensed to generate royalty streams.

What does ‘patent pending’ mean? 

A: A patent has been applied for but not yet granted.

What is a provisional patent application?

A place marker that reserves your priority to patent an invention. more.

Provisional patent - reserved sign

How to apply

The process often starts with a provisional application followed by non-provisional application(s) about 12 months later. The non-provisional application(s) are then examined to check that the invention qualifies. A patent is usually granted shortly after an application passes examination. more


Further reading

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