The world’s most advanced and sophisticated patent-licensing system is set to hit Australia’s courts in just two years, as tech firms look to create new businesses in a market already dominated by established players.
The patent system in Australia is a cornerstone of the country’s $2 trillion-a-year economy and has helped companies in Australia compete with Silicon Valley giants.
But it faces a tough task to keep up with rising demand for new technologies, as the industry tries to fend off the threat of patent trolls and other firms who are demanding large royalty payments in exchange for new technology.
That’s been especially true in the tech industry, where patent lawyers are increasingly becoming targets of patent attacks and have been subject to threats from patent holders.
As more and more tech firms use patent law to extract billions of dollars from companies for products and services, they have started to face pressure from investors to do the same.
“The patent system is the keystone of the Australian economy, but it’s not going to survive without it,” said Daniel Naylor, managing partner of technology investment firm Naylor Investment Partners.
“The only way to get it back is by making the whole system more transparent and accountable,” he said.
In an article published by The Australian Financial Press on Wednesday, tech giants are expected to challenge Australian laws that require companies to get licenses for new products or services before they can launch them.
They are also expected to argue that Australia’s patent system was designed to help the country compete with the United States, which has a much smaller patent system.
The article was titled “The new patent law: a test case for the patent system”, and says the Australian government has failed to provide sufficient information about the patent licensing system and why it is so valuable.
The company in the article, patent leather Australia, which is based in Brisbane, has filed a number of patent infringement cases in Australia, and is suing more than 20 technology companies over patents.
Australian patent laws have traditionally been fairly restrictive, and are seen as a deterrent to startups and innovators looking to create their own products.
But the patent trolls have been a major obstacle to startups, said Mr Naylor.
The patent trolls’ lawsuits are designed to force companies to pay royalties to patent holders in order to receive certain technology.
In Australia, they claim the patent fees can be used to build patent portfolios.
One patent troll, the Australian Patent and Trademark Office, has been accused of targeting more than 30 technology companies, including Apple, Google, Amazon and Facebook, in a series of legal actions targeting patent licensing.
Some patent trolls are seeking up to $50 million in damages and more than $100 million in fees from the companies they are suing.
The lawsuits against Australian companies include Apple, Apple’s iPhone maker, Amazon, Netflix, Dropbox, Facebook and Apple’s mobile device maker.
This new technology industry is in crisis, and the only way it can survive is by creating a better system of information and transparency about how they’re being funded.
We’ve got a patent system that has not been adequately funded, and that is creating a massive gap in knowledge and understanding, said Nick Leighton, chief executive of the Patent Owners Association of Australia (POA).
“We need to have a much better system, and we’ve got to get more information about how that’s being funded, because that’s the only thing that’s holding the system back.”
Technology companies and their lawyers have argued that the Australian system is too complicated, and they are not able to properly defend their intellectual property claims.
The POA, which represents technology companies and intellectual property lawyers, has called for a reform of the system.
It is a system that was designed for an industrialised country like Australia, with a huge number of patents and a small number of lawyers.
For example, Australia has 1,844 patents for manufacturing and 1,082 for agriculture.
Australia also has more than a million patent applications, and about 70 per cent of them are for agriculture, the POA says.
According to the POI, more than 80 per cent are for drugs, and less than a third are for medical devices.
Even with these problems, Australia is considered one of the best places to start a company.
There is no limit on the number of businesses that can be created in Australia in the next five years, according to a report from the OECD.
And the Australian tech sector is already in a transition stage.
While Australia is known for its tech industry and the innovation it offers, there are also growing concerns about the country developing a large and growing tech industry.
Currently, there is only one technology company operating in Australia: Apple.
Apple has not responded to requests for comment.
With technology companies facing an increased number of legal threats and lawsuits, it’s expected the patent-license system will need a major overhaul.
While some companies in the Australian patent system have responded positively