1 00:00:00,040 --> 00:00:02,600 Speaker 1: A big win for Zesbury and China. So they've been successful. 2 00:00:02,600 --> 00:00:05,320 Speaker 1: They're in court against a couple of defendants involved in 3 00:00:05,360 --> 00:00:07,880 Speaker 1: the unauthorized production, sale, and marketing of that gold three 4 00:00:07,960 --> 00:00:10,520 Speaker 1: Kiwi through So the defendants ordered to remove two hundred 5 00:00:10,560 --> 00:00:13,159 Speaker 1: and sixty hectares of the stuff and pays Esbury one 6 00:00:13,200 --> 00:00:15,360 Speaker 1: point two eight million dollars in damages. Jason to break, 7 00:00:15,400 --> 00:00:17,400 Speaker 1: of course, as the Zesbury CEO, he's back with us. 8 00:00:17,480 --> 00:00:20,599 Speaker 1: Jason Morning Morning might call you very well, indeed, how 9 00:00:20,640 --> 00:00:23,080 Speaker 1: much of this stuff goes on legally each year around 10 00:00:23,079 --> 00:00:23,440 Speaker 1: the world. 11 00:00:24,800 --> 00:00:27,040 Speaker 2: Well, I guess China is the main area we see it. 12 00:00:27,560 --> 00:00:30,920 Speaker 2: There's about seven thousand hectares or just over that currently 13 00:00:30,920 --> 00:00:34,480 Speaker 2: in the ground in China. We've continue to monitor around 14 00:00:34,479 --> 00:00:36,320 Speaker 2: the world, but China is the main area we're seeing 15 00:00:36,320 --> 00:00:36,920 Speaker 2: it at the moment. 16 00:00:36,960 --> 00:00:38,600 Speaker 1: And how do you monitor Do you have people on 17 00:00:38,640 --> 00:00:42,440 Speaker 1: the ground or does somebody dub somebody in or will. 18 00:00:41,960 --> 00:00:44,280 Speaker 2: Look you know, some of us through our distribution network, 19 00:00:44,320 --> 00:00:47,879 Speaker 2: we hear it for our customer network through other growers, 20 00:00:47,920 --> 00:00:50,720 Speaker 2: but also in China. We've obviously got a reasonable presence 21 00:00:50,760 --> 00:00:53,120 Speaker 2: on the ground there that are monitoring it, but also 22 00:00:53,200 --> 00:00:55,600 Speaker 2: just keeping open engagement with the industry to understand what's 23 00:00:55,600 --> 00:00:56,360 Speaker 2: happening here as well. 24 00:00:56,520 --> 00:00:58,640 Speaker 1: So if the seven thousand hectares there and you've just 25 00:00:58,680 --> 00:01:00,560 Speaker 1: won two sixty, you've got to you got a way 26 00:01:00,600 --> 00:01:00,840 Speaker 1: to go. 27 00:01:02,080 --> 00:01:04,720 Speaker 2: Yeah. I mean this is a small element of how 28 00:01:04,840 --> 00:01:06,840 Speaker 2: much is there, but it's more of a landmark in 29 00:01:06,920 --> 00:01:09,880 Speaker 2: terms of winning seed law case. And it really does 30 00:01:09,959 --> 00:01:13,720 Speaker 2: show that China is starting to move around protecting IP 31 00:01:13,959 --> 00:01:16,760 Speaker 2: rights not only for trademarks but also plant variety rights 32 00:01:16,800 --> 00:01:19,160 Speaker 2: in this capace. So it's a good move in the 33 00:01:19,240 --> 00:01:20,080 Speaker 2: right direction. 34 00:01:19,959 --> 00:01:21,840 Speaker 1: That's what it is going to ask. So this is 35 00:01:21,959 --> 00:01:24,880 Speaker 1: precedent setting and it's got a chilling effect, as they 36 00:01:24,880 --> 00:01:26,000 Speaker 1: say in legal circles. 37 00:01:26,880 --> 00:01:29,919 Speaker 2: Yeah. And it does also recognize that China is taking 38 00:01:29,959 --> 00:01:35,080 Speaker 2: more seriously around protecting particularly international companies IP rights and 39 00:01:35,120 --> 00:01:37,479 Speaker 2: that makes it good for investment in China going forward 40 00:01:37,480 --> 00:01:37,839 Speaker 2: as well. 41 00:01:37,880 --> 00:01:40,200 Speaker 1: And so that's a recognition on their part that their 42 00:01:40,240 --> 00:01:43,760 Speaker 1: reputation internationally is not particularly flash in this area and 43 00:01:43,800 --> 00:01:45,680 Speaker 1: they might want to do something about it. 44 00:01:46,600 --> 00:01:49,080 Speaker 2: I think they're continuing to mature in that space. That's right. 45 00:01:49,120 --> 00:01:52,520 Speaker 2: We've seen a lot with our trademarks, so zespre trademarks 46 00:01:52,520 --> 00:01:55,000 Speaker 2: on gold trademark and they've been taking a lot of 47 00:01:55,000 --> 00:01:57,880 Speaker 2: action on that and now obviously with plant variety rights, 48 00:01:57,880 --> 00:01:59,680 Speaker 2: so it's continuing to mature in that space. 49 00:02:00,040 --> 00:02:02,720 Speaker 1: Does this cost you one point two eight million in damages? 50 00:02:02,760 --> 00:02:04,640 Speaker 1: I mean one, do you actually get the money and 51 00:02:04,680 --> 00:02:06,880 Speaker 1: do they actually rip the hec tears out? But does 52 00:02:06,920 --> 00:02:07,920 Speaker 1: that cover your costs? 53 00:02:09,280 --> 00:02:13,080 Speaker 2: So we've also had costs that we incurred are watered 54 00:02:13,120 --> 00:02:16,040 Speaker 2: to us through this as well. So there's obviously the fine, 55 00:02:16,200 --> 00:02:18,640 Speaker 2: there's the costs incurred, but also the main thing for 56 00:02:18,720 --> 00:02:21,120 Speaker 2: us is the deterrent around pulling the fruit out of 57 00:02:21,160 --> 00:02:22,880 Speaker 2: the or the pulling the vines out of the ground 58 00:02:22,880 --> 00:02:24,440 Speaker 2: and not being able to sell the fruit good. 59 00:02:24,720 --> 00:02:26,280 Speaker 1: We got those numbers the other day, By the way, 60 00:02:26,320 --> 00:02:28,840 Speaker 1: we haven't andren since then. I mean, you guys are 61 00:02:29,320 --> 00:02:32,079 Speaker 1: it's just laughing, isn't it. I mean, how much more 62 00:02:32,080 --> 00:02:32,720 Speaker 1: can you grow? 63 00:02:34,280 --> 00:02:38,560 Speaker 2: Look, we've got pretty strong growth ambitions, partly because we 64 00:02:38,680 --> 00:02:42,040 Speaker 2: have got strong demand around the world for naturally nutritious 65 00:02:42,080 --> 00:02:44,919 Speaker 2: product like ours. We've also got a lot of growth 66 00:02:44,960 --> 00:02:47,120 Speaker 2: markets that we're sort of really focused at the moment. 67 00:02:47,400 --> 00:02:50,079 Speaker 2: So look, there is more growth ahead of us. We 68 00:02:50,200 --> 00:02:52,160 Speaker 2: continue to work through that, but we're going to make 69 00:02:52,200 --> 00:02:55,040 Speaker 2: sure that we keep doing it at a high value level. 70 00:02:55,080 --> 00:02:57,160 Speaker 2: We don't want to erode the value of our returns either. 71 00:02:57,200 --> 00:02:59,440 Speaker 1: Couldn't agree more? Nice ketch up? Appreciate it Jason to 72 00:02:59,480 --> 00:03:02,480 Speaker 1: break Who's as Esbury CEO? With us this morning. For 73 00:03:02,600 --> 00:03:05,640 Speaker 1: more from the Mic Asking Breakfast, listen live to News 74 00:03:05,680 --> 00:03:08,600 Speaker 1: Talks at B from six am weekdays, or follow the 75 00:03:08,639 --> 00:03:10,079 Speaker 1: podcast on iHeartRadio.