The New Zealand and Australian governments announced Tuesday that they had agreed a new trans- Tasman patent attorney scheme to give innovators easier access to both markets as part of the bilateral agenda for a single economic market.

New Zealand Commerce Minister Craig Foss and Australian Minister for Industry and Innovation Greg Combet signed an arrangement to provide consistent qualification requirements and professional standards in both Australia and New Zealand based on the application of Australia's existing patent attorney regime to New Zealand.

"The new arrangement will help minimize duplication, reduce administration costs and make it simpler to apply for intellectual property rights in Australia and New Zealand. This will help innovators access both markets and make their products and services more readily available," Foss said in a statement.

(Source: Xinhua)