The Ghana Investment Promotion Centre (“GIPC”), is a Government agency responsible for encouraging investment and economic development and regulating businesses in all sectors of the economy within the legislative framework of the Ghana Investment Promotion Centre Act, 2013 (Act 865).
It is mandatory for business entities with foreign ownership, permitted pursuant to Act 865 to register with GIPC, and to do so, following the incorporation of the Company in Ghana.
It is also required by Act 865, the only law with the mandate to regulate Technology Transfer Agreements (“TTAs”), that a TTA between an entity registered in Ghana (“the transferee”) and a foreign entity (“the transferor”), are registered with the GIPC and in accordance with the Technology Transfer Regulations, 1992 (L.I. 1547).
What are TTAs?
TTAs are defined within Act 865 as agreements with an enterprise which have a duration of not less than 18 months, and which involve the following:
the assignment, sale and licensing of all forms of industrial property with the exception of trademarks and patents which are not part of the transfer of technology;
provision of technical expertise such as feasibility studies, plans, models, guides, basic or detailed engineering designs etc;
provision of technical knowledge on installation and operation of...