The Patents Act 1990 (Cth) enables the inventor of a new device, substance, method or process to acquire a patent that gives them the exclusive right to commercially exploit that invention for a period of time. A patent creates personal property rights. The inventor must be a natural person.
To be patentable, the invention must be a new (novel) way of manufacturing something that involves either an 'inventive' or 'innovative' step, and which is useful. The invention must be the 'practical adaptation' of a principle or idea. A principle or idea itself cannot be patented.
Obtaining a patent is a complex and costly process. It involves searching existing patents, filing the patent application, publishing the application, a process of examining the application and, if all the requirements are met, the grant of the patent. Various fees are payable.
A patent will not be granted if the invention is not properly described in the application; or if it is not new (either because it was disclosed to the public before applying for a patent, or because it has been published in an earlier patent document).
A patent can be transferred to another person by agreement. Alternatively, an inventor’s right to exploit their patent can be licenced to another person.