The cryptocurrency revolution is well under way. The new form of currency has begun to revolutionise financial transactions in ways that society is still starting to grasp. While still being a volatile currency, its value rose from US$1,000 at the beginning of the year to nearly US$16,000 per coin as of December 2017. More and more people are getting on board with this new cryptocurrency and, as recently as November 2017, several Australian home owners have even begun accepting Bitcoin payment for their property. There appears to be no limits to the use and growth of cryptocurrency. But cryptocurrencies still remain outside the scope of the regulated financial system. That is, until now – sort of.
This article was first published in the November 2017 issue of Governance Directions, the official journal of Governance Institute.
Tips for lawyers
- Be tech savvy; know what kind of block will be most effective.
- Cover all bases; the primary purpose test and the discretionary matters in subsection (5) mean you need evidence about the website, its owner and its functions.
- Investigate; no matter how hidden they are, you need to at least make reasonable efforts to determine the website operator’s identity and notify them of the proceedings.
- Co-operate with the ISPs; this is a no fault provision- therefore, the proceedings don’t have to be adversarial. The more issues that can be agreed, the easier the application will be.
- Think past the orders; have a mechanism in mind for expanding/modifying the initial orders to cover domain shifting etc.
Online copyright infringement has been a problem for content owners since the inception of the internet. The unauthorised downloading (and uploading) of copyright material is especially prevalent in Australia, where a 2015 survey estimated that Australians download movies, songs and television programs in the hundreds of millions each year.1 While content owners have been criticised by some for not making content available in Australia (or making it available at a comparatively inflated price), the unauthorised downloading of copyright material is a clear infringement of content owners’ rights.
On 15 September 2017 the Fair Work Amendment (Protecting Vulnerable Workers) Act 2017 took effect. It makes important changes to the Fair Work Act 2009. These changes potentially affect all businesses but in particular those in franchising or licensing or distribution.
The Australian Competition and Consumer Commission (ACCC) has recently announced that it will launch an investigation of the “more serious matters being raised” in the Aveo retirement village scandal.
We all know someone who is addicted to Crossfit. Not surprisingly, with its rise in popularity those behind Crossfit have taken steps to protect the brand. This includes the registration of ‘CROSSFIT’ as a trade mark all over the world. In Australia, the word ‘CROSSFIT’ has three separate registrations in a number of different classes.
Congratulations to our CFO, Magdalena Kosior-Molloy who has been selected as a finalist for the CFO of the Year award in the 2017 Executive of the Year awards.
Congratulations to Partner, Corinne Attard, who has once again been selected by Who’s Who Legal: Franchising as one of the pre-eminent leading franchise lawyers in Australia.
Holman Webb is delighted to announce 10 internal promotions across our Eastern Sea-Board offices, effective 1 July 2017. These promotions span our commercial recovery and insolvency, corporate and commercial, dispute resolution, insurance, property, and workplace relations practices.
Earlier this week the Fair Work Commission handed down its annual wage review decision increasing the minimum wage for award-reliant employees by 3.3%.