IP Australia has recommended that Australia not join the Hague Agreement Concerning the International Registration of Industrial Designs in its recent cost-benefit analysis and report, in which it found that the costs outweigh the benefits.
This is despite other countries, including the UK and the US, opting to become signatories. The Hague Agreement Report is the government’s first attempt at applying the Productivity Commission’s call for any proposals to reform IP laws to be economically justified and reflective of best practice.
IP Australia found that joining the Hague Agreement would provide Australian designers easier access to international markets in 68 countries by the filing of a single design application, and that the increase in terms of protection from 10 to 15 years would be beneficial.
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Business Law Digest is compiled with the assistance of Baker McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker McKenzie by emailing Danian Zhang at danian.zhang@bakermckenzie.com.
