Financial Management of Parliament Act, 2009
R 385
Intellectual Property Rights from Publicly Financed Research and Development Act, 2008 (Act No. 51 of 2008)12. Restrictions on offshore intellectual property transactions |
| 1) | Offshore intellectual property transactions are subject to the following conditions: |
| a) | A recipient must advise NIPMO of its intention to conclude an intellectual property transaction offshore; |
| b) | subject to paragraph (c), offshore intellectual property transactions may occur only in accordance with prescribed regulations and any guidelines contemplated in section 9(4)(e); and |
| c) | any intellectual property transaction which does not comply with the regulations and guidelines requires prior approval of NIPMO. |
| 2) | A recipient wishing to undertake an intellectual property transaction offshore in the form of an assignment or exclusive licence must satisfy NIPMO that – |
| a) | there is insufficient capacity in the Republic to develop or commercialise the intellectual property locally; and |
| b) | the Republic will benefit from such offshore transaction. |
