An Innovation Patent has a maximum duration of 8 years, subject to payment of renewal fees. A innovation patent requires an invention to be novel and "innovative". This requirement is lower than required for a standard patent.

An innovation patent application is automatically examined but only for formalities. If no objections are raised the innovation patent is granted and published. This usually occurs in a matter of weeks after filing the application. There is no opposition period before grant and no official fee.

An innovation patent is granted without substantive examination. It is not possible to take or threaten court action until the patent has been examined and “certified” by the Patent Office. Until an innovation patent is certified one can only advise third parties of its existence. Examination may be requested at any time by the Patentee or by a third party. If objections are raised during examination and cannot be overcome the patent is revoked. Although court action cannot be taken until an innovation patent is certified, a claim for damages or an account of profit may be made from the later of the date of grant or the date of first infringement, which may be before the date of certification.