Industry Analysis & Industry Trends
The Trademark and Patent Lawyers and Attorneys industry has grown steadily over the past five years, defying the weak growth in Australia's broader Legal Services industry. The industry has benefited from steady demand from downstream markets, such as the Biotechnology industry. Downstream markets have increased their private research and development (R&D) expenditure alongside continuing Federal Government initiatives to encourage innovation, such as tax offsets for companies that undertake R&D activities. These activities have sustained demand for trademark and patent legal services, as companies have sought to protect their newly created intellectual property.
Industry revenue is expected to grow at an annualised 3.7% over the five years through 2015-16, to reach $914.6... purchase to read more
Industry Report - Industry Analysis Chapter
Over the past five years, the Trademark and Patent Lawyers and Attorneys industry has grown at a faster pace than the broader Legal Services industry. This faster growth is largely due to ongoing innovation within the private sector. Expenditure on research and development (R&D) within the private and public sectors has increased alongside overall capital expenditure on intellectual property products to protect new ideas, products and systems. Legal reforms designed to encourage innovation and speed up the process of issuing patents and trademarks have also benefited industry firms and downstream markets. As a result of these trends, industry revenue is expected to increase at an annualised 3.7% over the five years through 2015-16... purchase to read more