January 25, 2024

Technology Transfer Agreement

Technology transfer (TT) provides a means by which developing countries such as Nigeria can gain access to cutting-edge and new technologies, innovations, research materials, and expertise.  It is intended to foster the economic and technological growth of the receiving entity.  

Our Associate, Funmi Akinpelumi, in her article 'An Overview of Technology Transfer Agreements and Its Application in Nigeria', examines the economic impact of technology transfer in Nigeria and ascertains to what degree technology transfer has been maximized and its effect in birthing indigenous companies.

In her analysis, she refers to certain businesses such as Peugeot and Coca-Cola that were established in Nigeria via technology transfers and further identifies constraints to their full maximization and further proffers measures to achieve its full maximization.

The Article also provides an overview of the legal framework for technology transfer in Nigeria such as the compulsory requirement for the registration of technology transfer agreements with the National Office for Technology Acquisition and Promotion (NOTAP) in Nigeria as well as the implications of non-compliance with these laws.

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