Technology transfer: Centres of IP excellence

Innovation is crucial for economic growth. This is especially the case for developing countries such as Brazil, where an underdeveloped technology industry is seen as one of the main hindrances to growth and general prosperity. In order to provide public incentives for innovation, Brazil has enacted a series of laws, the most important being the Federal Act No. 10,973/2004, known as the technological innovation act. Aside from tax incentives, important aspects of this law are science and technology institutes and their technological innovation centres (TICs).