Technology Transfer Agreements: Are These Agreements Most Effective Method of Transfer of Technology

Abstract

In the last century number of countries emerged as new states on the map, some of them progressed rapidly through the industrialization by inventing, adopting and absorbing the new and scientific techniques and those are called developed countries, whereas rest of the countries are in process to may be developed in near future called the developing countries. The countries which are very initial stage of economic growth and scientific development are categorized as least developed countries. The study reveals that the research, development, scientific methods and use of technology are base of national development and its drought is the main reason to be underdevelopment in the developing and least developed countries (LDCs). Now the world is highly imbalanced, not only the developed countries but also the multinational corporations (MNCs) are the majour hub for transfer of technology to the developing countries (DCs) and LDCs through the legal process which protect their rights and privileges while imposing some strict restrictions on the host country or company whatever the case it is. This study is an effort to judge the role of agreements which normally used as basic instrument for technology transfer at national and private level. It discusses the law of international contracting, mechanism, methods and transition of technology by way of contracts. Then it explores study of international legislation on technology transfer agreements, apart from that it also examines and analysis the growth and development in DCs and LDCs by way of technology transfer. The conclusion narrates that the technology transfer agreements (TTAs) are one of the best mode of transferring and acquiring technology among countries or at private level, and TTAs provides strong mechanism to protect the rights of transferor and determine the duties of receiver and voice versa, whereas, effectiveness of technology transfer agreements (TTAs) depends to a large extent on how host governments as well as private sector encourage indigenous research & development institutions, as well as competition & collaboration amongst domestic firms.