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Risks of making financial forecasts

When a business is seeking to raise capital or advertise as being for sale financial forecasts are often made in a way so as to appeal to the target audience – investors or potential buyers.  In some cases however, the forecasts made do not translate into reality giving rise to potential legal consequences.  As forecasts are indicators often relied used by investors to make decisions on whether or not to invest, statements that are incorrect may amount to misleading and deceptive conduct under the Australian Consumer Law (ACL) (being Schedule 2 to the Competition and Consumer Act 2010 (Cth)) and have potentially serious legal consequences. [Read more…]

Technology startups – top 5 legal considerations

The allure of generating income from a subscription base, operating a marketplace or your own e-commerce venture is strong and for good reason.   The success stories of tech startups and the unicorns in this space are many, but so are the failures.  If this is the path you are considering taking, these are our top 5 legal considerations. [Read more…]

Privacy Awareness Week 2019 – 12-18 May 2019

During  Privacy  Awareness  week  2019 Australian businesses  are  reminded  they  are  entrusted  with  certain  responsibilities  pursuant  to  the  Privacy  Act  1988  (Cth) (Privacy  Act).    In  particular  the  way  they  collect,  store  and  disclose  the  personal  information  of  their  customers. [Read more…]

Patents and the thresholds for registration

A patent provides exclusive rights during its term to exploit the patented invention.  In Australia the Patents Act 1990 (Cth) (Patents Act) protects intellectual effort by granting exclusive rights, during the term of the patent, to exploit an invention and to authorise other persons to exploit it.  The owner is entitled to defend the patent against infringement from third parties in the patent area – which in the case of Australia is the Commonwealth of Australia – during the term of the patent. [Read more…]

What is a bare trust?

From time to time we encounter clients that have various types of assets held by a trustee (Trustee) that are purportedly held pursuant to a bare trust (Bare Trust).  There are several questions which usually arise in relation to the rights and obligations of the parties involved that inevitably end up with Dundas Lawyers considering the taxation issues, (in particular the capital gains tax implications, for the Trustee. [Read more…]

Legal issues of making financial forecasts in business

When a business is seeking to raise capital or advertise as being for sale financial forecasts are often made in a way so as to appeal to the target audience – investors or potential buyers.  In some cases however, the forecasts made do not translate into reality giving rise to potential legal consequences.  As forecasts are indicators often relied used by investors to make decisions on whether or not to invest, statements that are incorrect may amount to misleading and deceptive conduct under the Australian Consumer Law (ACL) (being Schedule 2 to the Competition and Consumer Act 2010 (Cth)) and have potentially serious legal consequences. [Read more…]

Interlocutory injunctions in patent disputes

An injunction is a Court order directing a person or entity to do a specific thing or refrain from doing something.  Whilst an injunction in itself can amount to final relief in litigious matters, it can also be sought on an interlocutory or temporary basis (Interlocutory Injunction).  This applies where a temporary remedy is sought to maintain the status quo until the larger legal issues can be heard at trial.

In matters relating to the infringement of a patent, an injunction may be sought by the patent owner (Applicant) to stop a defendant (Respondent) from doing the acts the patent owner alleges infringe the patent, until the Court has had the opportunity to determine whether or not the patent has been infringed.  In this article we consider Interlocutory Injunctions in patent matters and how the tests differ from non-patent matters. [Read more…]

Directors personal liability – misleading & deceptive conduct

Despite the corporate veil, there are many ways in which a director can be personally liable for activities the company which they direct.  One such ground is misleading and deceptive conduct pursuant to section 18 of the Australian Consumer Law (Cth) (ACL).  This question of personal liability is of concern to conservative and risk averse directors who attempt to strike the delicate balance between governance and entrepreneurialism.  Misleading and deceptive conduct can occur in a variety of circumstances in business dealings.  From misleading advertising, inaccurate projections to contractual dealings between parties.  It could be as simple as making misstatement regarding a profit forecast or embellishing the outcome of a contract. [Read more…]

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Artificial intelligence – introductory thoughts on the legal issues

Whenever there is a wave of innovation, in the absence of statute, the Courts necessarily apply old world legal principles to the new technology.  This was certainly the case when social media and online business became mainstream.  Similarly the law in Australia that applies to bitcoin and the blockchain has left the promoters of initial coin offerings (ICO’s) struggling to understand their legal position – see our article titled:  “What is an initial coin offering”.  The advent of artificial intelligence (Artificial Intelligence or AI) however creates somewhat more challenging legal issues to be considered by technology lawyers whose client’s seek to develop applications with embedded AI. [Read more…]

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