AUSTRALIA'S NEXT GOLD RUSH: INTELLECTUAL PROPERTY
13 October 2016, Written by James Perkins
INTELLECTUAL property expert David Martin sees a new gold rush coming in Australia, but it has nothing to do with mining.
"They assume Australia will pay a premium to integrate technologies and not become an innovation hub. From that complacency comes a really great opportunity.
"The prohibition around R&D in Australia is significantly less than in the US and the EU. That gives a competitive advantage to the Australian market, largely through the neglect of these large companies."
"Under international accounting standards, the only time goodwill or intangible assets get treatment is when the business is the subject of a merger or acquisition," he says.
"Usually it values the technology developed in the firm for its own use. Otherwise, it gets no treatment."