Knowledge

The Australian National Audit Office (“ANAO”) has published a report on “Procurement by the National Capital Authority” looking at the effectiveness of its procurement activities. While the findings are no doubt disappointing for the National Capital Authority (“NCA”), the report provides valuable reminders for all Australian Government entities regarding procurement best practice and pitfalls to avoid.

Blockchain technology (aka “distributed ledger technology”, aka “DLT”) is a game-changer, with implications for all aspects of society and commerce. Digital assets secured on a blockchain are quick, cheap and efficient to process, while also being “smart”, secure and traceable.

In 2020-21 there were 84,054 contracts published on AusTender with a combined value of $69.8 billion. If you add to that Commonwealth contracts below the reporting thresholds and State and local government procurement activities (not to mention government grant processes), there is no doubt that selling to government presents considerable opportunity for businesses.

On 29 March 2022, the Australian Government announced the first set of ‘thematic sanctions’. The listings are effective from 30 March 2022.

Recent reports have suggested that businesses partnering with universities for grant funding under Australia’s $2.2 billion University Research Commercialisation Package will be required to agree to standard-form contracts with mandatory intellectual property (IP) retention clauses they may not like.

Decentralised Autonomous Organisations (DAOs) are one of the more intriguing applications of distributed ledger technology (aka ‘blockchain’). They are self-regulating organisations comprising members linked on a blockchain through NFTs and smart contracts which serve as a digital constitution.

Over the past fortnight, sanctions have dominated news cycles around the world. In an effort to deter Russia’s ongoing military incursions into Ukrainian territory, the world’s major economies have adopted a range of far-reaching and hard-hitting economic sanctions which target individuals and financial entities in Russia, Belarus and two separatist pro-Russian territories in Ukraine.

As blockchain use-cases such as cryptocurrencies and non-fungible tokens (NFTs) have surged in popularity over the last few years, serious concerns have been raised about the energy and resources required to maintain and use them.

In one of the most highly publicised administrative law cases in recent history, Novak Djokovic’s case in the Australian Federal Circuit Court shines a light on the important but often overlooked role of judicial review in the Australian legal system, and the power of procedural fairness and reasonableness in overturning government decisions.

Moulis Legal is excited to announce a legal first for Australia. On the back of our work with a number of trailblazing blockchain projects, our technology law team has embraced distributed-ledger technology and is offering our legal services in the form of non-fungible tokens (NFTs).