Review of competition policy On 4 December 2013, the Australian government announced that it would undertake a comprehensive review of competition laws and policy with the aim of helping to identify ways to build the economy and promote investment, growth and job creation. A Competition Policy Review panel was set up and an Issues Paper was released on 14 April 2014. Submissions on the Issues Paper closed on 10 June 2014. Following a review of the submissions on the Issues Paper, the Competition Policy Review panel recently issued a draft report, and is encouraging submissions in response to the recommendations of the draft report by 17 November 2014. With regards to intellectual property (IP), the panel recognised the need to find a balance between prohibiting anti-competitive conduct without interfering with innovation. However, they stated ‘[d]etermining the appropriate extent of IP protection is complex. Given the complexity of the issues, there is a case for conducting an independent framework-style review of IP. The review should look at competition policy issues, new developments in technology and markets and international trade agreements.’ The panel concluded that ‘Australia’s IP rights regime is a priority area for review’ and in Draft Recommendation 7, recommended that ‘an overarching review of intellectual property be undertaken by an independent body, such as the Productivity Commission’. Small business owners are encouraged to read the draft report and provide submissions to the panel, so that the final report (due in March 2015) can take into account the breadth of opinion that exists throughout the small business community. Information on the review can be found at CompetitionPolicyReview.gov.au
Posted on: Tue, 07 Oct 2014 02:54:49 +0000
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