n Without Prejudice - Changing the exchange control environment for IP transactions : intellectual property tax
|Article Title||Changing the exchange control environment for IP transactions : intellectual property tax|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Spoor and Fisher and 2 Spoor and Fisher|
|Publication Date||Jun 2011|
|Pages||50 - 51|
For a number of years South African exchange control law has complicated offshore transactions relating to intellectual property. The Supreme Court of Appeal has brought clarity to this issue in the recent judgement in the matter of Oilwell (Pty) Ltd v Protec International Ltd & Others (Oilwell). The court ruled that the assignment of intellectual property from a South African resident (or entity) to a non-resident (or foreign entity) does not require approval in terms of regulation 10(1) (c) of the Exchange Control Regulations.
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