Since news spread of the federal government's proposed Renewable Energy Bill and Carbon Pollution Reduction Scheme, firms have been optimistic that environmental work would increase. But now it's becoming clear that climate change work flows will also provide a good line of business for intellectual property (IP) lawyers.

Mallesons Stephen Jaques expects increased investment in climate change research & development will create a significant amount of IP work for up to five years. "There will be huge opportunities for commercial and venture capital IP lawyers in projects from the Clean Coal Fund (A$900m), Low Emissions Technology Development Fund (A$500m) and National Low Emissions Coal Fund CCS (A$100m)," said partner Scott Bouvier.

Although the venture capital side of IP is expected to be weak for the next six months, he said, equity would flow in about one to two years when R&D products results and markets are expected to recover. There will still be significant patent and trademark litigation work, since companies will try to protect their innovations and brands in the credit crunch as they position for the recovery. However, filing of patents may face a short-term setback as companies review low-priority portfolios and tighten them. "I spoke to a research institute that had trimmed a couple of hundred thousand dollars off its patent budget," said Bouvier. "There will be a general rationalisation to focus on what's important, so that will take some fat work away from the IP legal sector."

Despite the changing market, Bouvier is optimistic that work flows will remain steady. "I expect to be very busy on IP for the rest of my career," he said.