The Office of the Philippine President has officially enacted RA 10055 (An Act Providing the Framework and Support System for the Ownership, Management, Use, and Commercialization of Intellectual Property Generated from Research and Development Funded by Government and for Other Purposes), or simply the Philippine Technology Transfer Act of 2009. It was signed by President Arroyo last March 23,2010 at the Malacanang Palace.
The law stipulates the Department of Science and Technology, the Department of Trade and Industry, the Intellectual Property Office of the Philippines, and all related agencies to come up with implementing rules and regulations (IRR) to establish the system for technology transfer in the Philippines.
Said act will enable government-funded researches by local public and private R&D institutions to have government-aided commercialization prospects through the creation of a Technology Licensing Office. The law also encourages all R&D institutions to set up their own tech transfer units.
read its entire length: Republic Act 10055 (pdf)
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