The Director of the Technology Transfer Agreement (TTA) Department at the Ghana Investment Promotion Centre (GIPC), Emmanuel Osei, has cautioned that companies that fail to register their Technology Transfer Agreements will face sanctions.

He indicated that non-compliance with the required registration processes could lead to the revocation of a company’s registration with the Centre, especially in cases where improper fee transfers are involved.

The GIPC recently announced the establishment of a dedicated Technology Transfer Agreement Department to provide faster client responses and improve service delivery.

Osei explained that a Technology Transfer Agreement involves the licensing of industrial property rights, the provision of technical expertise or services, managerial training, and the sharing of know-how.

According to GIPC’s definition, a Technology Transfer Agreement is an arrangement between a foreign transferor, duly incorporated or registered in its home country, and a Ghanaian transferee enterprise registered under the Companies Act, 2019 (Act 992). The agreement must have a minimum duration of twelve months.

Osei noted that under current law, a TTA should last no less than 18 months and no more than 10 years. Agreements may also be renewed for an additional five-year term.

“When you apply to GIPC, the Centre will review, register, monitor, and maintain records of all agreements submitted for registration. For renewals, GIPC works closely with relevant sector regulators. For example, as we have seen today, we engage with commercial banks and the Bank of Ghana, which is the sector regulator,” Osei stated during a stakeholder engagement on June 23, 2025.

He further explained that the decision to create a separate department for TTA registration was driven by the need for speed and efficiency.

“Previously, the registration of these agreements was handled by GIPC’s Legal Division. However, to streamline the process, we now have a new Technology Transfer Agreement Division solely dedicated to the registration, review, and monitoring of all TTAs,” he said.

“Now, we have a focused team of lawyers and paralegals whose primary responsibility is to ensure timely registration of technology transfer agreements for our clients,” Osei added.

Meanwhile, the GIPC is in the process of revising the GIPC Bill, which will change the institution’s name from “Centre” to “Authority” and introduce amendments to the current GIPC Act.

Osei noted, “The laws currently guiding our work include the GIPC Act, 2013 (Act 865) and the Technology Transfer Regulations, LI 1547, which have been in place since 1992. It has been a long time, so we are now reviewing both the GIPC Bill and the LI to update the regulations and ensure better compliance by companies.”

SSD/MA