Understanding intellectual property
Australia has proven historically to have some of the most innovative minds in the world, and while we have one of the highest scientific publication rates per capita in the world, this does not translate to patenting rates. A solid understanding of intellectual property (IP) and the patent process is imperative to the commercialisation journey.
In order to improve understanding of IP for our innovators, the Monash Biomedicine Discovery Institute (BDI) partnered with Watermark, the oldest patent firm still practising in Australia to provide a curated IP seminar on Wednesday 5 June.
The seminar covered topics such as patenting versus publishing, inventorship, IP research and strategy and commercialisation, all within the framework of a lab bench-to-commercialisation timeline. Watermark walked through the timeline and illustrated key points using two well-known technologies, Gardasil and CRISPR, as examples.
Understanding the competitive business landscape is fundamental to the ongoing commercial potential for our scientists’ research. An awareness of any new developments and innovations in the marketplace is also crucial. By understanding the competitive landscape, researchers can identify other individuals/entities that are working in a similar space, possible competition, and/or partnership and collaborations opportunities.
The hosts, Watermark patent attorneys, Sarah Cox, Dr Renee White, Dr Bryan Leaw, Dr Grant Jacobsen and Karen Sinclair, aimed to improve patent literacy amongst attendees, and teach them how to leverage information found in a patent for a competitive advantage in grant writing and proposals/pitches to industry. Watermark also covered patent strategies – how, when and where to patent, and how these decisions can affect the commercial potential of research.
The seminar also covered the support and services available to Monash BDI researchers, with Monash Innovation’s Senior IP Manager, Maria Harrison-Smith, detailing how they can be supported internally along their innovation journey.
With more than 155 years in the game, Watermark are not short on experience. The firm is passionate about working with Australia’s best minds to bring technology and innovation to market in a way that delivers commercial and financial success. The Monash BDI was thrilled to partner with Watermark on delivering such an insightful and practical seminar.
The feedback from the seminar has been positive, with one Monash BDI researcher already making plans to complete a patent searching trial.
Watermark’s Karen Sinclair, Dr Grant Jacobsen, Dr Renee White, Sarah Cox and Dr Bryan Leaw really enjoyed being able to support Monash BDI researchers to more completely understand key issues in IP creation and commercialisation through the lens of some familiar Australian biomedical success stories. Renee, a Monash alumnus, said that she was particularly thrilled to be able to pay forward what she had learnt about inventorship and the ‘publish or perish’ paradigm since leaving the lab bench. The Watermark team were impressed by the focus of the audience, and the deep engagement with the subject matter demonstrated by some probing questions.
About the Monash Biomedicine Discovery Institute
Committed to making the discoveries that will relieve the future burden of disease, the newly established Monash Biomedicine Discovery Institute at Monash University brings together more than 120 internationally-renowned research teams. Our researchers are supported by world-class technology and infrastructure, and partner with industry, clinicians and researchers internationally to enhance lives through discovery.