HOW TO REGISTER TECHNOLOGY TRANSFER AGREEMENT IN NIGERIA
A Technology Transfer Agreement may be defined as a legally binding document that contains the terms and conditions under which technical skills, specialized knowledge, technical know-how and other proprietary rights for the manufacturing of goods and services are transferred from one individual, enterprise or organization to another person, enterprise or organization through licensing and other contractual arrangements that are mutually beneficial to both parties. It is governed by the National Office for Technology Acquisition and Promotion Act CAP N62 Laws of the Federation of Nigeria (LFN) 2004. One of the activities of NOTAP is the registration of all Nigerian technology transfer agreements and contracts entered into for the transfer of technology to Nigerian parties.
The National Office for Technology Acquisition and Promotion (“NOTAP”) is responsible for monitoring, regulating and facilitating the inflow of foreign technology in Nigeria. NOTAP’s mandate is implemented primarily through the evaluation and registration of technology transfer agreements which are required to be submitted to NOTAP within 30 days from the effective date.
The agreements that are subject to NOTAP’s regulation in Nigeria include agreements relating to hotel management, trademarks license, software license, value added services, shared services, management services, technical know-how and franchise.
PROCEDURE FOR NOTAP REGISTRATION
Application for the registration of technology transfer agreement with NOTAP is made in the applicant’s company letterhead paper directed to the Director of NOTAP within thirty (30) days from the effective date of the agreement. Section 5 of the NOTAP Act provides that “every contract or agreement which on the date of the coming into force of this Act had been entered into by any person in Nigeria and which still has an effect on the commencement of this Act in relation to any matter shall be registered with the National Office in the prescribed manner not later than six months after the commencement of this Act”.
Section 5(3) goes further to state that every application for the registration of a contract or agreement shall be addressed to the director and shall be accompanied by a number of certified true copies of the contract and agreement and by all other related documents annexed thereto.
Applicants are required to make payment of a presentation fee of N50, 000 (Fifty Thousand Naira) through the NOTAP online portal to commence registration, accompanied with the following information and documents:
A copy of the duly completed application form.
Certificate of Incorporation with the Corporate Affairs Commission.
Memorandum and Article of Association of the company.
A duly completed TAA Pre-Qualification Form.
Tax Payer Identification Number (TIN).
A draft copy of the Technology Transfer Agreement to be registered.
A copy of the duly completed NOTAP questionnaires for different sectors.
A duly completed copy of the Monitoring Form.
A copy of the feasibility study report of the company.
Annual audited accounts for the preceding three years.
Evidence of tax payment for the preceding three years.
Profile of the technical partner.
Performance bond for advanced payment.
A comprehensive training programme which must include the number of personnel, skill or knowledge to be acquired.
Approval or licenses obtained from the relevant authorities and bodies such as the Nigerian Communication Commission (NCC) for agreements on communication etc, where applicable.
NECESSARY STEPS FOR SUBMISSION
Submission of the Application Form and accompanying documents at the Director General’s Office;
Assessment and evaluation of the Technology Transfer Agreement;
Communication of observations/ Approval Letter to Applicants;
Response by the Applicants/Payment of Applicable Registration Fees;
Issuance of Certificate of Registration along with Certified Copies of the Registered Agreement
In conclusion, individuals or organisations interested in technology transfer agreement are to apply for the registration with the National Office for Technology Acquisition and Promotion.
NB: This article is not a legal advice, and under no circumstance should you take it as such. All information provided are for general purpose only. For information, please contact chamanlawfirm@gmail.com
WRITTEN BY CHAMAN LAW FIRM TEAM
EMAIL: chamanlawfirm@gmail.com
TEL: 08065553671, 08024230080