The ACCC has issued final guidelines on how Australia’s competition laws will apply to intellectual property assignments and licences following the repeal of the ‘IP exemption’ from prohibitions on anti-competitive conduct which was contained in subsection 51(3) of the Competition and Consumer Act. As of September 13 the IP exemption no longer applies, however, certain worked examples remain undeveloped or unrealistic, such that uncertainties remain as to the ACCC’s likely approach in particular matters, writes Patrick Gay and Amalia Stone of Herbert Smith Freehills.