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Providing strategic advice on expansion structures November 16, 2018

Founded in Bondi Beach in 2012, Bailey Nelson has rapidly grown into a global eyewear retailer and service provider with boutiques in Australia, London, Canada and New Zealand. The strong demand for their products and … Continued

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Maddocks advises Kidman Resources on its successful $776 million scheme of arrangement September 12, 2019

Thursday 12 September The Federal Court has today approved the $776 million acquisition of Kidman by Wesfarmers by way of a scheme of arrangement. Maddocks has advised Kidman over its growth story, from tenement acquisitions, … Continued

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New franchising disclosure document guidance – your document may not measure up September 18, 2019

Franchising in Australia is a sector under scrutiny. The sector has been digesting the content of the Fairness in Franchising report and the inter-agency Franchising Taskforce has been established. In the meantime, the Australian Competition … Continued

Update: Repealed – IP exemption to the Competition and Consumer Act 2010 anti-competitive conduct regime is no more

Further to our earlier update we can now confirm that the Treasury Laws Amendment (2018 Measures No. 5) Act 2018 (the Act) received Royal Assent on 12 March 2019.

The Act repeals section 51(3) of the Competition and Consumer Act 2010 (CCA), which has historically provided an exemption for certain licensing and assignment agreements for intellectual property (IP) rights which would otherwise breach restrictive trade practices prohibitions under the CCA.

The Act provides for a six month transition period for businesses to review the terms of their existing licensing and assignment arrangements to ensure ongoing compliance with anti-competitive conduct prohibitions under Part IV of the CCA. That transition period has now commenced and businesses have until 13 September 2019 to ensure their existing licensing and assignment arrangements comply.

As noted in our previous article, there has been some suggestion by the Government that the ACCC will issue guidance on the application of the law to IP arrangements. However, we consider it is unlikely that any class exemptions will come into effect before the expiry of the transition period.

We therefore recommend that businesses and individuals commence reviewing their existing agreements, and reach out for assistance where required as soon as possible.

For further information or assistance, please contact a member of our Intellectual Property or Competition Regulation teams

 

AUTHORS
Brendan Coady | Partner
+61 2 9291 6258
E
 brendan.coady@maddocks.com.au
Ooma Kurana | Senior Associate
+61 2 9291 6246
ooma.khurana@maddocks.com.au

Further to our earlier update we can now confirm that the Treasury Laws Amendment (2018 Measures No. 5) Act 2018 (the Act) received Royal Assent on 12 March 2019.

The Act repeals section 51(3) of the Competition and Consumer Act 2010 (CCA), which has historically provided an exemption for certain licensing and assignment agreements for intellectual property (IP) rights which would otherwise breach restrictive trade practices prohibitions under the CCA.

The Act provides for a six month transition period for businesses to review the terms of their existing licensing and assignment arrangements to ensure ongoing compliance with anti-competitive conduct prohibitions under Part IV of the CCA. That transition period has now commenced and businesses have until 13 September 2019 to ensure their existing licensing and assignment arrangements comply.

As noted in our previous article, there has been some suggestion by the Government that the ACCC will issue guidance on the application of the law to IP arrangements. However, we consider it is unlikely that any class exemptions will come into effect before the expiry of the transition period.

We therefore recommend that businesses and individuals commence reviewing their existing agreements, and reach out for assistance where required as soon as possible.

For further information or assistance, please contact a member of our Intellectual Property or Competition Regulation teams

 

AUTHORS
Brendan Coady | Partner
+61 2 9291 6258
E
 brendan.coady@maddocks.com.au
Ooma Kurana | Senior Associate
+61 2 9291 6246
ooma.khurana@maddocks.com.au