Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Technical Innovation Corp Pty Ltd v Australian Technological Innovation Corp Pty Ltd [1999] FCA 1288 TRADE PRACTICES - application for interlocutory injunction restraining respondent from acting on basis that a licence agreement is terminated - licence agreement contains term that if net proceeds of sale of licensed product does not exceed $1,000,000 within 3 years agreement will be terminated - agreed that the $1,000,000 requirement will not be achieved within the 3 year period - whether a serious question to be tried - licence is for use of intellectual property rights relating to production of a fungus and for sale of the fungus - licensee alleges misrepresentations by licensor relating to successful testing of product, acceptance of results by potential buyers, distribution and annual sales - licensee claims reliance on misrepresentations - whether undue delay in commencement of proceeding - balance of convenience where applicants claim that their investment and efforts will be lost if interlocutory relief not granted and proffer undertakings as to damages - Trade Practices Acts 1974 (Cth) ss 52, 87 Trade Practices Act 1974 (Cth) ss 2, 87 University Co-op Bookshop Ltd v University of New South Wales [1997] FCA 510, distinguished Telstra Corporation Ltd v First Netcom Pty Ltd (1999) 78 FCR 132, distinguished
TECHNICAL INNOVATION CORPORATION PTY LTD & ORS v AUSTRALIAN TECHNOLOGICAL INNOVATION CORPORATION PTY LTD & ORS N 766 OF 1999 TAMBERLIN J 15 SEPTEMBER 1999 SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N 766 OF 1999
BETWEEN: THE TECHNICAL INNOVATION CORPORATION PTY LIMITED
ACN 075 322 486
FIRST APPLICANT
THE BIOACT CORPORATION PTY LIMITED
ACN 076 210 761
SECOND APPLICANT
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