Senator Kim Carr, Minister for Innovation, Industry, Science and Research has reaffirmed the important role intellectual property (IP) plays in every successful business in the lead up to World Intellectual Property Day, which will occur on 26 April 2008.
This year’s World IP Day theme is Innovation: Respect It, which aims to promote the link between intellectual property and innovation.
"A well thought out IP strategy is the backbone of innovation. IP can develop into a significant business asset which often is worth more to a business than all the tangible assets such as factories and machinery combined," Senator Carr said.
"If you are in business and you don’t know about the various forms of IP such as patents and trade marks, then you are taking a significant risk."
World IP Day celebrates the amazing achievements delivered by human innovation.
"From the cochlear bionic ear to the black box flight recorder, innovations can make a huge difference to the way we live our lives," Senator Carr said.
"But without the protection of the IP system, many of these innovations may never have reached the marketplace. Whether you are a small business owner or on the board of a multinational company, IP is critical for you and your business.
"On this day when IP and innovation is being celebrated across the world, let’s be proud of what Australia has contributed to the global pool of innovation, but let’s also look forward.
"I urge all Australians to think about this country and how we can do things better via innovation – remember, every new product started as someone’s good idea," Senator Carr said.
In Australia, World Intellectual Property Day celebrations are coordinated through IP Australia, the Australian Government agency responsible for administering patents, trade marks, designs and plant breeders' rights. For more information about World IP Day celebrations near you, visit IP Australia at www.ipaustralia.gov.au
Media contact: Catriona Jackson, Minister's Office, 0417 142 238
Peter Willimott, IP Australia, 0410 698 391