HOW TO OBTAIN NOTAP REGISTERATION IN NIGERIA.

HOW TO OBTAIN NOTAP CERTIFICATE IN NIGERIA.

National Office for Technology Acquisition and Promotion (NOTAP) was established for the purposes registering transfer of technology from a foreign entity doing business with a local company in Nigeria.

Here two companies come together to form a venture for the purpose of executing a contract or project in Nigeria. If, these process are not done before a foreign entity importing technology into Nigeria, it will be difficult to return proceed of funds realized from the said contract that was executed out of Nigeria.

There are two stages to this;

I. JOINT VENTURE AGREEMENT (JVA).

This is the agreement that brings two intending companies together for the purposes of doing technology business in Nigeria.

It creates a stage where parties defines how they will operate a technology business in Nigeria.

In this case, both companies will come together to execute a Joint Venture Agreement (JVA) that will transform into forming a special purpose vehicle  company (SPVC) to execute a particular contract or project in Nigeria.

The JVA will disclose those persons that will be the directors of the company( each Venture company will nominate a director to represent them at the SPC), how the shares will be allotted, the objective of the company, appointment of company secretary, proposed project to be executed and duration of project.

Although it is not important to form a special purpose company (SPC), but parties go for this for ease of operation.

A due diligence and search should be done on the Nigeria company. The purpose of this is that the foreign company should understand the objectives and real identity of the directors of the proposed joint venture partner and as well to ascertain if there is any lien on the company. This is done to avert transfer of liability, since the MEMERT of the company is not amended.

The JVA should also explain the equity contribution of the parties, profit and liability sharing formula and that previous liability of the company will not be transferred to the SPC.

 The next stage is

 ii. TECHNOLOGY TRANSFER AGREEMENT (TTA)

 TTA is the instrument registered with NOTAP; the parties to the TTA are the Nigerian registered SPC and the foreign company .

 The foreign company technology providers could be provides any of the following services:

-Management services.

-Consultancy services

-Technology know-how

-Franchise

-Technical service

-Software license

-Research and Development.

 TTA must be registered within 30 days of their execution and this is statutory.

 Please NOTE that NOTAP will not register TTA if it is not done in accordance with the standards set out by the rules, laws and specification of NOTAP. Most foreign entity are not aware of some standards, local companies tend to hide certain facts and specification norm of drafting these agreements which creates problems for the foreign entity during credit return to home country.

For instance, the specification provides that the seat of Arbitration must be in Nigeria. Failure to encapsulate these clauses in the TTA will make NOTAP to refuse the registrations of the TTA.

Any company that fails to register its TTA will not have its credit remitted outside Nigeria by the Central Bank, licensed deposit money bank in Nigeria and Ministry of Finance.

The foreign company will also register its Intellectual property on the technology that will be used by the parties for the project; if it is software or hardware, it will be registered. The relevant software code or identity of the software or technology must register.

There must be evidence of intellectual property rights ownership of the technology to be used by foreign company. The IP rights must disclose that foreign company is the owner of the software or technology to be used in Nigeria. Without this, it will not be registered.

TTA should have a comprehensive and detail information on the content of the technology.

NOTAP registration is statutory; TTA is designed to monitor and control technology transfer into Nigeria. It is formulated to check porous entrance of technology into Nigeria.

Upon registration, a certificate of registrations will be issued by NOTAP.  

Should you require any further information; write: services@osuyalawfirm.com.ng

 

ENHANCING CONSUMER RIGHTS IN DRUGS MANUFACTURING PART 1

     Today’s drug manufacturing by the  pharmaceutical industry are exposed to numerous risks and challenges evolving round consumer satisfaction, consumer education and consumer rights; this challenges no doubt emanates from the companies quest to cope with the constant industry change, competitive pressures, increased governance, and the uncertainties involved in research and development to bring new products to market.

In all these, pharmaceutical companies are faced with the daunting task of researches to produce drugs for their consumers, as well as develop its products to stay in business and convince consumers that they are the best in the market.

The process of drug manufacturing and production starts from the point of conceiving an innovation to researching and conducting clinical trials of the drugs before the products can be finalized for production.

The chunk of consumer dissatisfaction and consumer rights infringement starts from the point of research, production and distribution; it has being observed that drug market place gets its root from research, but research anchored on consumer satisfaction helps to correct unplanned violations in the chain of production and distribution.

Liabilities of drug defects and drugs that causes damage to human health rather than improve is premised on the fact that content are not measured for consumer satisfaction, but rather centered on profits making.

Drug manufacturing in Nigeria will have more value in the international markets if research, clinical trials and manufacturing is developed  not only on the foundation of science and formulas, but should as well extend to the scientist asking questions and researching on the strategies and platform to ensure that consumers gets its best satisfaction if a drug or pharmaceutical product is released into the market. 

OSUYA & OSUYA LAW FIRM

Consumer Rights

Hello Consumer , your rights makes you a king in any consumer goods transaction.

www.osuyalawfirm.com.ng

Always ensure your rights are not undermined by business owners.

Enforce your rights legally and do not take laws into your hands.

Visit Consumer protection Council of Nigeria or any other regulatory agency to complain about your consumer rights violation.