Aanoor Legal

Technology Transfer

We provide complete support for the transfer of new technology from the originator to a secondary user to boost their economies. In the technology process, the information related travel within the organization or between the organizations or entity, in the broader aspects the technology transfer takes place internationally, wherein the knowledge travels between the countries. In developing countries, technology transfer helps in access to the growth of technologies which are related to other developed countries.

Technology transfer is classified into two types, vertical and horizontal. Vertical technology transfer refers to the technology transfer from the necessary research to the applied research, from applied research to the development followed by development to production. Developed countries follow this route. Horizontal transfer is the movement of already existing technology from an equipped environment to the other, which refers to the use of technology in one organization to the other. Developing countries follow this horizontal transfer route, wherein the technology transfer happens from production to design, design to development and development to research.

Advantages of technology transfer:

Commercialization of the research: Investment done on intellectual property rights are returned as a product to the public, which creates employment and revenue.

Creates new business opportunities: Contributes to enhancing the competitiveness of the technology providers, which helps in business expansion and focuses on technologies.

Brings economic benefits: Technology transfer increases revenues for both technology transferor and transferee. It increases the production of new products and better process which lead to increased efficiency and excellent market share.

Technology transfer registration process:

Filling of technology transfer arrangement: Letter from the applicant stating the exemption/s being requested and the verified statement of the justification for the exemption, Copy of the agreement, and Other documents that will be required by the registration office to support and establish the merits of the request. The filling has to be done as per the following schedule:

A. New Agreements - within thirty days from the date of execution or effectivity

B. Renewal Agreements - within thirty days before the expiration of the term of the existing technology transfer agreement

C. Amendatory Agreements - Within thirty days from such amendment or modification.

Evaluation by the registrar: The registrar will evaluate and ask to resubmit the application if it is incomplete and it has to be submitted within the stipulated time.

Official acceptance: When the application and all the documents which are filed abides by the law, the registration office shall be deemed as the date of official acceptance and will be duly filled in the official acceptance entry book.

Evaluation of the request: Evaluation is commenced on the date of official acceptance. In the case of Board of Investments registered companies with pioneer status, exemption from the requirements.

Issue of Certificate: The Certificate of Registration with the title of the technology transfer arrangement and parties thereto, its registration number and the date of registration shall be entered in the Certificate Registry Book