"Hi George,
It's the sale of IP ownership rights that Exchange Controls are concerned with, not reproduction of IP offshore. In other words, the financial act of moving an IP asset off your own balance sheet and onto a non-resident's…"
Brendan Hughes's Page
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George Gombay commented on Brendan Hughes's blog post Legal Update on IP Exports"Hello Brendan,
Thank you for alerting us to this new development with its important implications.
Maybe while we are on the subject, you could perhaps clear up for me something about this IP export thing which has had me puzzled for while.
What…"
Dave Thomas commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"Hi Brendan,
I'm busy starting up a company in Bristol. Investors in my start up-get +- 75% given to them by Her Majesty's Taxman. 50% tax (immediate) relief and capital gains tax relief. Plus my start-up involves Intellectual Property-…"
George Gombay commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"Thank you, Brendan."
Brendan Hughes commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"The administrative processes are not too onerous, but I guess that's relative to the value of the investments themselves. Transfer of capital, dividends or royalties may require endorsement of share certificates and approval by…"
Alistair Petersen commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"Caveat Emptor! :) Thanks Brendan"
Brendan Hughes commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"Hi Alistair, being a software industry lawyer rather than a income tax specialist, I'm reluctant to express a tax opinion on a public site. However, the answer to your question will lie in reading sections 11(a) and 11D of the Income…"
Brendan Hughes commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"You're welcome!"
Mark Koekemoer commented on Brendan Hughes's blog post Is SA becoming a Software Development Legal Haven?"Great info thanks for sharing this Brendan!"
Brendan Hughes replied to Rory Magee's discussion Employee Share Option Programs in Startups - Advice?"NB questions include (i) whether its a general ESOP for all staff where staff ideally don't actually acquire shares but participation rights in a trust that holds the shares or (ii) a targeted ESOP for key staff, where key staff can be…"
Brendan Hughes commented on Silicon Cape Newsletter's blog post Top tips for a tech start-up seeking an angel investor"Thanks for a good post Wesley. "Remember, you're the one who wants something". Just because you ask someone to dance, doesn't mean they weren't wanting to be asked..! Smart funders know what they're looking for and…"
Brendan Hughes commented on Roger Norton's blog post What you need to know about the new Companies Act and Consumer Protection Act"@George: Yes, if you have your hands on a copy of the Companies Act, take a look at the provisions of section 78. In a nutshell, a company may not negate or limit a director's liability or pay any fine imposed against a director, but a company…"
Brendan Hughes commented on Justin Stanford's blog post Landmark judgement on the export of IP for the Silicon Cape?"Here's a comment from an attorney and a heads up for those considering a quick export of IP to a foreign based entity in light of this judgment - the transfer of an IP asset may still trigger a capital gains tax…"
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- Who are you?
- Lawyer, Entrepreneur and Author
- Where can you be found on the web, Twitter, LinkedIn, etc?
- www.brendanhughes.info
http://www.linkedin.com/in/brendanhughes1
www.brendanjhughes.blogspot.com
twitter: @brendanjhughes
Brendan Hughes's Blog
Legal Update on Transfering IP Offshore
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…
ContinuePosted on June 29, 2012 at 12:00 — 2 Comments
Is SA becoming a Software Development Legal Haven?
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…
ContinuePosted on April 12, 2012 at 17:00 — 9 Comments
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