Brazilian Government regulates Innovation Law
Recently, the Brazilian federal government published decree no. 9283/2018 on January 8, 2018, which regulates the Brazilian Innovation Law (law no. 10973/2004, which had previously been modified by law no. 13243/2016). The decree entered into force on its publication date.
The decree structures various methods to boost innovation in Brazil, stimulating the creation of partnerships. is the decree makes it possible for the government and other public entities to support the creation of cooperation projects between companies, Institutions of Science, Technology and Innovation (ICTs), and non-profit private organizations by making public funds and other resources available. The ownership of the Intellectual Property rights resulting from those partnerships must be agreed to in a contract between the participants.
The decree also alters important tax-related subjects. From now on, the Brazilian government will concede tax exemptions on goods imported by companies for the execution of projects for research, development and innovation. This measure, however, will only apply to imports made by the Brazilian National Counsel for Technological and Scientific Development (CNPq), ICTs, and non-profit private organizations.
The original Brazilian Innovation law was partially modified in 2016, transforming the panorama of investment in innovation in Brazil.
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