Serbia - Joint Ventures/Licensing Serbia - Joint Ventures/Licensing
Serbian firms are interested in joint venture contracts with foreign firms. They often are looking for the foreign firms to provide capital, equipment, and merchandise, while domestic firms would provide working and warehouse space, personnel, local experience, and channels of distribution. U.S. firms considering such ventures should review carefully the viability of potential domestic partners.
Licensing is a good way to tap into local markets, but this requires financially strong partners with good management skills. Licensing is regulated by the Law on Contracts and Torts, and not via a separate licensing law. Licensing contracts should include strong intellectual property rights (IPR) protection including a definition of the relevant intellectual property, contract terms, quality control provisions, restrictions on terms of use, etc. Companies are advised to consult a local lawyer to ensure that provisions of the contract do not violate any Serbian laws, potentially making any agreement null and void. The U.S. and Serbia do not have signed a treaty to avoid double taxation.