In the matter of Painaway Australia Pty Ltd (in prov liq)(admin apptd) - Painaway Australia Pty Ltd v JAKL Group Pty Ltd & Ors

[2011] NSWSC 205

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. CONTRACT — OFFER & ACCEPTANCE — whether offer constituted by signing of licence and shareholders agreements by some parties thereto — whether inferred acceptance thereof — whether manifestation of mutual assent to contract — HELD — contract established by mutual assent — ESTOPPEL — whether conventional estoppel applied to preclude denial of licence agreement — HELD — conventional estoppel established — INTELLECTUAL PROPERTY — whether exclusive licence in respect of registered trade marks and formulas -whether registered owner of trade marks can contractually fetter statutory right to use trade mark — whether confidential information in formulas is assignable — HELD — exclusive licence — statutory right of registered owner can be so fettered by contract — confidential information not property assignable as such — CORPORATIONS — whether pre-incorporation contract — HELD — no pre-incorporation contract