Intellectual property (IP) assets, although intangible and
invisible, are financially quantifiable. This means that they can
be traded and commercialised. Intellectual property exchange
control regulations govern limitations on the purchase and/or sale
of IP assets.
Intellectual property exchange control oversees sales,
outsourcing, joint ventures, technology transfers, development,
service arrangements or other related transactions involving
outward IP transfers and royalty payments.
These regulations were
recently amended during the National Treasury's 2020 Budget
Review.
Exchange Control Act: 2020 Amendments
In summary, the following amendments were made:
- There was expressed intention to
relax restrictive export controls administered by
the South African Reserve Bank (SARB) with regards to South
African-owned IP. This is good news for South Africans looking to
maximise the commercial potential of their IP.
