👋 G’day
Today’s brief:
$100m AI tool with trademark claim
Ashurst hires hard ahead of merger
Microsoft shares plunge US$424bn
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WORD ON THE STREET

Trademark war

London firm Wordsmith Law has sued legal AI startup Wordsmith AI over an alleged trademark clash. With the AI company valued at ~$100m, the case spotlights brand risk in legal tech as courts grapple with whether AI sits in the same commercial lane as law firms: NB
Baker McKenzie has picked up IP litigator Dean Gerakiteys from Clayton Utz, bringing his disputes team across to Sydney. Known for acting for Seven, Optus and Mattel, the hire strengthens Baker McKenzie’s IP, advertising and consumer law firepower: AFR
Sydney silk Richard Lancaster SC has been appointed senior counsel assisting the Antisemitism and Social Cohesion Royal Commission, leading evidence before former High Court judge Virginia Bell: The Australian
Ashurst is hiring hard ahead of its planned merger with Perkins Coie, luring Clayton Utz defector Fred Prickett and employment specialist Shelley Williams. More laterals are queued, signalling bench-building before the transpacific tie-up lands: Ashurst
PRACTICE POINTS

Privilege claim rejected
⚖️ Privilege: FWC rejects privilege claim over barrister-led workplace investigation. The Fair Work Commission has ordered production of an internal investigation report at Cohealth, despite it being authored by external barrister Daniel Fawcett and retained via lawyers. The Commission found the dominant purpose was disciplinary, not legal advice, and said privilege failed without evidence that the investigation was primarily for advice. Even if privilege existed, it was waived by partial disclosure to the employee during the process, underscoring that lawyer involvement alone won’t protect HR investigations: Lawyerly
⚖️ Contract: Need a refresher on the differences between reps and warranties? KWM has got the goods. A representation is a statement of fact made before the contract is signed that induces a party to enter the deal. If it turns out to be false and isn’t written into the contract, you generally can’t sue for breach of contract. Instead your remedies instead sit in misrepresentation, negligence, equity or under statute (like MDC under the ACL). A warranty is a contractual promise. If it’s breached, you can claim contractual damages designed to put you in the position you would have been in had the contract been properly performed, and in serious cases may also terminate. Practically, this is why parties who rely on pre-contract statements usually want them converted into contractual warranties (or framed as both warranties and representations): KWM
⚖️ Competition: ACCC’s new mandatory merger regime is in full swing. The ACCC has escalated Coles Group Limited’s proposed lease of a new supermarket and liquor site in Kalgoorlie to an in-depth Phase 2 review, citing risks to local grocery competition. The move is notable as one of the first acquisitions assessed under the new regime. Under the new regime, from 1 January 2026, parties must notify and wait for ACCC approval, and Coles and Woolworths face targeted notification rules covering all supermarket acquisitions and certain land deals, regardless of thresholds: ACCC
TALKING POINTS

First home squeeze

Did you hear…
First-home buyer schemes are pulling thousands into the market, but the side effects are real. More than 21,000 buyers have jumped in since October, yet supply can’t keep up. And by the end of 2025, fewer than 44% of suburbs sat below scheme price caps, down from 57% the year prior. The result: demand is being fuelled faster than homes are built, pushing prices up where buyers are already stretched: Capital Brief
Also…
2026 tech trends are all about AI. Instead of phones, expect voice-driven wearables like glasses, rings, pens and jewellery, powered by microphones and speakers rather than screens. Meta’s Ray-Ban AI glasses lead the pack. AI will also push deeper into search, work software and dating. Health tech is getting far more intimate too, from perimenopause trackers to wearables flagging early cognitive decline: AFR
DEAL ROOM

Costs war
🧑⚖️ Mayne Pharma is returning to court next month to fight Cosette over the costs of its failed takeover, as the two sides square off over who should foot the bill for months of litigation. The company says it will enforce a court order requiring Cosette to pay its costs and will defend Cosette’s appeal: AFR
📺 Nine is set to sell 2GB, 3AW, 4BC and 6PR, with interests linked to billionaire publican Arthur Laundy emerging as the surprise buyer, edging out hot favourite Craig Hutchison. The deal caps Nine’s pivot away from legacy audio after last year’s $1.4bn Domain sale: AFR
SECTOR SNAPSHOT

Market wipeout


DIGGERS
🚜 MinRes and Liontown are eyeing output growth after lithium prices doubled since November, lifting sales prices and production. MinRes has upgraded FY guidance and is studying a Bald Hill restart, while Liontown may expand Kathleen Valley if the rally sticks: Bloomberg

FIN
🏦 CBA is fighting an unfair dismissal claim from a property finance director sacked for swearing and alleged inappropriate conduct. He says bad language was rife at senior levels and his workload warnings were ignored. CBA says it was purely a conduct call, with leadership concerns and missed KPIs: The Australian

RETAIL + REAL ESTATE
🏠 Aldi’s decade-long practice of not telling hundreds of part-time warehouse workers when their shift finishes is coming to an end. The Fair Work Commission has used new powers to force fixed start and finish times for 1200+ workers, rewriting Aldi’s agreements without consent. Aldi says it hurts flexibility and has appealed: AFR

TECH + STARTUPS
📱 Has the AI bubble hit? Microsoft just clocked one of the ugliest days in market history. Shares fell 12%, wiping about US$424bn in value. That’s the second-biggest one-day destruction on record. The trigger: a 66% surge in AI capex to $37.5bn, reigniting fears Big Tech’s AI spend won’t deliver the returns investors were promised: Bloomberg
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