AusBiotech says government's Patent Box report is inadequate

AusBiotech, the representative body for the biotech industry in Australia, has said the Patent Box report to the Australian government is too limited to be of use.

The report, prepared by Gaéten de Rassenfosse for the Department of Industry, Innovation and Science's Office of the Chief Economist, gives only a narrow and unhelpful assessment of Patent Box policies.

AusBiotech is one of several groups advocating for the Australian Innovation and Manufacturing (AIM) Incentive, which would be a patent box-style incentive, to keep research and development-based intellectual property that has been developed in Australia, to stay when it hits commercialization. The goal of this is to keep the associated jobs, manufacturing, exports and economic benefits in Australia.