Commerce Minister Craig Foss has welcomed the second reading of the Patents Bill.
"This Bill makes important progress towards helping drive innovation in New Zealand. The changes will overhaul sixty-year legislation and create a balanced patent system," says Mr Foss.
"The Patents Bill will better align New Zealand's law with overseas markets, making it easier for Kiwi businesses to export and grow.
"The Patents Bill will continue to protect genuine innovations, while raising the bar for what can be patented. The current approach to patents is too broad and restricts New Zealand businesses' ability to adapt and improve existing inventions," says Mr Foss.
The passing of the Patents Bill is one of more than fifty Government policy initiatives aimed at boosting innovation.
It further builds on the government's work to deliver reforms that will help create a more productive and competitive economy.
The Bill can be viewed at http://www.legislation.govt.nz/bill/government/2008/0235/14.0/whole.html
