Brazil and Argentina celebrate agreements to foster innovation

The Brazilian Innovation Agency (FINEP), has recently entered into a partnership agreement with the Ministry of Science, Technology and Productive Innovation in Argentina (MINCyT), acting via the National Agency for the Promotion of Science and Technology (ANPCyT) and the National Management for the Institutional Cooperation and Integration (DNCII) in the country, to foster and develop innovation. The agreement, which will be valid for 5 years, should benefit many companies in both countries.

The objective of this partnership is to establish cooperation to promote the exchange of experiences and best practices, as well as celebrating joint initiatives in the science, technology, and innovation. The parties agree on mutually supporting institutions of science and technology, as well as companies, in a bilateral context, on subjects of mutual interest. The focus areas include renewable energy sources, health and oceanography, taking into consideration general technologies in the biotech, nanotech and information technology, among other areas.

This collaboration will be the basis for public calls, as well as mutual support of research and scientific, technological and innovation development projects, as well as other activities.

It is important to note that the agreement contains provisions regarding intellectual property assets developed in projects that have the public institutes of Brazil and Argentina as partners. Parties that benefit from the joint initiative shall execute an agreement establishing obligations for the parties involved and the conditions related to IP rights.

Furthermore, the presidents of Brazilian and the Argentine Patents and Trademarks Offices have recently signed a memorandum of understanding to deepen the collaboration of both countries with regard to IP. The themes discussed between the presidents include guidelines for trademarks and industrial designs, fast-track agreements, and bilateral collaboration on the analysis of patent applications.

Those initiatives demonstrate that Brazil and Argentina are continuously engaging in new joint initiatives to foster innovation and IP. An investment in the national business community is an important step for the Brazilian economic recovery, and the management of intangible assets is fundamental for companies to establish a solid basis in the current market.

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