Unfortunately the President has published an amendment to the Exchange Control Regulations this month to provide for an expansive new definition of "capital" to include all forms of intellectual property. This means that Reserve Bank approval is again required before you can sell IP ownership to a foreign person or corporation.
However, for those interested in democracy and law, there is a question mark over the validity of the amendment to the regulation...
In terms of…Continue
Posted on June 29, 2012 at 12:00 — 2 Comments
Three key legal developments in the past year have made South Africa a far friendlier jurisdiction for software developers to be based in.
Firstly, the 2011 decision of the Supreme Court of Appeal in Oilwell v Protec International stated that exchange control approval is not required for the exporting of intellectual property (including software copyright, patents, designs and trademarks). This judgment removed a significant regulatory hurdle from the…Continue
Posted on April 12, 2012 at 17:00 — 9 Comments