Congress Of Colombia Issues Normativity For The Promotion Of Technology-Based Companies - Corporate/Commercial Law - Colombia Law Articles in English - Mondaq Business Briefing - Books and Journals - VLEX 690551757

Congress Of Colombia Issues Normativity For The Promotion Of Technology-Based Companies

Author:Ms Luz Adarve
Profession:Dentons
 
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On July 6, 2017, the Congress of the Republic enacted Law 1838 of 2017, which seeks to promote technology and innovation through the creation of technology-based companies (or Spin-offs). For the purposes foreseen in this specific regulation, Spin-offs are understood as any company based on knowledge developed in Higher Education Institutions, that result of their research activities. In particular, Spin-off companies develop knowledge commonly protected by intellectual property rights.

Law 1838 of 2017 establishes the conditions under which Higher Education Institutions can create technology-based companies as well as the terms in which teachers, researchers and individuals may participate in them. Likewise, parameters are established for the creation of Spin-offs companies financed with public resources.

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