On 12 March 2019, the Treasury Laws Amendment (2018 Measures No. 5) Act 2019 became law.
Among other things, it repeals section 51(3) of the Competition and Consumer Act 2010 (‘CCA’), a provision that exempts IP owners from some aspects of competition law when they impose restrictive conditions on licences or assignments of their intellectual property (‘IP’) rights such as patents, registered designs, registered trademarks, copyright or eligible circuit layouts.
Now that the law has been passed, licences and assignments should be reviewed to ensure they do not breach competition law. This includes contracts, understandings and arrangements that were made before, on, or after the law took effect.
If you would like further clarification in this regard, you are welcome to contact our team of experienced lawyers on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange a teleconference or appointment. Alternatively, please click here to submit an online enquiry form