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 Investment Chapter
The Trademark and Patent Lawyers and Attorneys industry exhibits a low level of capital intensity. The industry is labour intensive and industry lawyers require a high level of specialist skill and knowledge to deliver trademark and patent services. A large number of well-trained administrative staff are also needed to carry out research, filing and documenting tasks. These characteristics are in line with other professional service industries in Australia.
Wages are the industry's largest expense. For every dollar spent on wages, IBISWorld estimates that the industry invests $0.04 in capital. Depreciation is projected to account for just 1.5% of industry revenue in 2015-16 and mainly relates to the use of computers and legal databases... purchase to read more