Carol Brown (Tasmania, Australian Labor Party, Assistant Minister for Infrastructure and Transport) Share this | Hansard source

The Intellectual Property Laws Amendment (Regulator Performance) Bill 2023 addresses outdated administrative provisions across intellectual property (IP) legislation. The intellectual property system enables Australian businesses to protect and grow trusted brands, supporting economic growth and prosperity. It gives IP rights holders confidence to create new and innovative products and processes and build brand awareness, knowing their creative and intellectual investment can be protected and rewarded. This bill makes important improvements to the Australian IP system to create greater certainty for its users and the public.

The amendments clarifying the protection of Olympic insignia are crucial in the lead-up to the 2032 Brisbane Olympic Games. The games provide a major boost to the Australian economy and put Australia in the global spotlight. This bill will support the games by ensuring that only the Australian and International Olympic committees can register trademarks containing Olympic insignia. Major international sporting events often attract speculative or bad faith trademark applications years in advance of the event. With the Brisbane Olympic Games rapidly approaching, this is a timely amendment to strengthen the government's ability to reject bad faith Olympic applications.

The bill also removes unnecessary regulatory burdens for IP rights holders. It allows government to better engage with business and support compliance in a flexible way, by streamlining and modernising how trademark information is provided to the public. The amendments will reduce red tape, increase procedural fairness and give applicants more certainty when seeking intellectual property protection. Intellectual property contributes greatly to the Australian economy. I'm proud to help Australian businesses benefit from great ideas by supporting a modern and accessible intellectual property system which encourages trade, investment, innovation and creativity. I commend the bill to the Senate.

Question agreed to.

Bill read a second time.