A license agreement is governed by the provisions of Articles 686 to 711 of the Law of Contract and Torts.
By a licensing agreement a licensor shall assume the obligation to assign to a licensee, entirely or partially, the right of use (franchise) of an invention, technical know-how and experience, trade-mark, sample or model, while the licencee shall assume the obligation to pay a specified fee in return.
A licensing agreement must be concluded in written form.
A license for the use of a patented invention, sample or model, shall not be concluded for a period longer than the one covered by statutory protection of such rights. Continue reading License agreement
Duty to keep business secret is regulated by the provisions of Articles from 72 to 74 of the Companies Act.
A business secret is information the disclosure of which to a third party may damage the company, as well as information that has, or may have, economic value because it is not generally known or easily available to third parties who could acquire economic benefit through its use or disclosure, and with regard to which the company took appropriate measures to keep its secrecy.
Information which is a business secret may be of a productive, technical, technological, financial or commercial nature, a study, a research finding, as well as a document, formula, drawing, facility, method, procedure, notice or internal instruction, and the like. Continue reading Duty to keep business secret according to provisions of the Companies act
The Law of Contract and Torts by the provisions of Articles 942 to 953 governs general rules as well as risks that are not covered by the life insurance contract.
Determination of the Insured Amount
In contracts of insurance of persons (life insurance and accident insurance), the amount of insurance to be paid by the insurer on the occurrence of the insured event, shall be determined in the insurance policy by agreement between the contracting parties. Continue reading Insurance of persons – general rules and excluded risks