License agreement

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

Mortgage agreement

Mortgage Law governs the mortgage, for the purpose of securing and collection of claims. A mortgage is a lien right on real estate, which empowers the creditor, in the event of the debtor’s failure to pay a matured debt, to request the collection of claim secured by the mortgage from the value of the real estate prior to the ordinary creditors and prior to junior mortgage creditors, regardless of who is in the possession of the real estate.

Mode of Institution and Types of Mortgage

A mortgage is instituted by registration in the competent real estate registry, on the basis of:

  • Agreement or a judicial settlement (contractual mortgage)
  • Mortgage deed (unilateral mortgage)
  • Statute (statutory mortgage)
  • Court decision (judicial mortgage).

The contractual mortgage rules apply mutatis mutandis to unilateral, statutory and judicial mortgage, unless otherwise provided by law. Continue reading Mortgage agreement

Contract on control and management

According to provisions of the Companies Act a contract on control and management shall be concluded in the case of forming an contractual group of companies. A contractual group of companies consists of a controlling company and one or more controlled companies that have entered into a contract on control and management.

A contract on control and management is regulated by the provisions of Articles from 554 to 566 of the Companies Act.

Concept, Conclusion, Amendments and Termination


A contract on control and management is a contract whereby a company grants the management and conduct of operations to another company.

If the companies making up a group based on equality in terms of Article 551 paragraph 2 item 3) of the Companies Act enter into a contract introducing uniform manner of management, such a contract is not be deemed to be a contract on control and management in terms of the Companies Act. Continue reading Contract on control and management