INTHEBLACK November 2025 - Magazine - Page 45
ARE WE HEADED TOWARD A DEMATERIALISED ECONOMY?
In the business world, the future of economic value is increasingly being dematerialised.
Instead of property, plant and equipment, intellectual property such as software, data,
brand equity and patents are now the lifeblood of revenue, earnings and value
for many enterprises.
According to IP Australia — the federal government agency responsible for administering
intellectual property rights and legislation — in 2024 there was a record number of new
design filings and a further rise in trademark applications.
In Australia, the IP sector is responding dynamically to shifts in innovation, trade and
global competition. The Australian IP Report 2025 highlights shifting trends including
strong growth in filings related to electric vehicles, with transport patents up 12.8 per cent
and design filings in this category overtaking computing equipment. Biotechnology patent
filings were also up by 32 per cent in 2024, likely reflecting Australia’s strengthening
industry and global partnerships.
Dr Michael Falk, IP Australia’s chief economist, says businesses that are savvy
at managing their IP as part of their strategy achieve stronger economic outcomes.
He notes that IP rights enable businesses to value, transfer and monetise their intangible
assets, which enhances the economic return from their investment and helps a business
to differentiate itself in the market.
“International research suggests that a firm being granted its first patent generates
a 12 per cent increase in revenue per worker and a 22 per cent increase in employment.”
Increasingly, artificial intelligence (AI) and data are being recognised as critical inputs
into innovation, prompting the global reassessment of IP frameworks.
“IP Australia is participating in international discussions on how to ensure IP systems
keep pace with AI-driven innovation, and how to best harness the benefits of AI while
making sure appropriate guardrails are in place,” Falk says.
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