In line with the Federal Government’s drive to simplify the process for obtaining requisite regulatory permits and approvals, and generally remove bottlenecks to the ease of doing business in Nigeria, the National Office for Technology Acquisition and Promotion (“NOTAP”) recently announced the automation of the process for the registration of technology transfer agreements. Further to a statement issued by NOTAP, it noted that from 2 September 2019 all applications for the registration of technology transfer agreements are to be submitted online.
NOTAP was established under the National Office for Technology Acquisition and Promotion Act Cap N62 Laws of the Federation of Nigeria 2004 with the power to, among others, undertake the registration of all agreements relating to the transfer of foreign technology to Nigerian parties.
Specifically, an agreement is registrable with the NOTAP if its purpose or intent is, in the opinion of NOTAP, wholly or partially for, or in connection with, any of the following purposes:
a. the use of trademarks;
b. the right to use patented inventions;
c. the supply of technical expertise in the form of the preparation of plans, diagrams, operating manuals or any other form of technical assistance of any description whatsoever;
d. the supply of basic or detailed engineering;
e. the supply of machinery or plant;
f. the provision of operating staff or managerial assistance and the training of personnel; and
g. the monitoring, on a continuous basis, of the execution of any contract or agreement registered pursuant to the NOTAP Act.
Registration of technology transfer agreements with NOTAP is important as no payment will be permitted through the official foreign exchange market in respect of registrable agreements that are not registered with NOTAP. Counterparties to technology transfer agreements are therefore advised to ensure the registration of their agreements with NOTAP.
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