16 December 2018
A Bill to remove the competition law exemption which currently applies to certain types of transactions involving intellectual property (IP) rights is before the Australian Federal Parliament and expected to become law in early 2019. IP owners will need to review their existing IP licensing or assignment arrangements and ensure compliance with the Australian competition laws within six months of the Bill receiving Royal Assent. A compliance review is recommended, in light of some concerns that have been raised about the lack of safeguards against a resulting competition law overreach over legitimate IP licensing or assignment of IP.
The IP rights exemption to the Australian competition law rules to be repealed