Gambling and alcohol giants beat out Australia’s national science agency and universities in patent and trademark filings last year, as local filings fell and the nation remained overwhelmingly a “net importer” of technology.
Experts say the latest drop in local patent filings is due to a correction from record levels driven by COVID-19 and a law change last year. But a persistent reliance on foreign technological innovation has again drawn calls for a new approach.
New data showing the link between holding a patent and productivity, along with an Industry minister bullish on Australian ‘know-how’ is adding to the urgency.
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