Legislation Changes, May 2024
As part of the Russian counter-sanctions regulation, from May 20, 2024, transactions involving the acquisition of exclusive rights for certain IP objects owned by the rightsholders from “unfriendly” states or persons controlled by them shall be subjected to approval by the Governmental Commission for Control over Foreign Investments in the Russian Federation.
The approval is required in cases where exclusive rights are alienated from an “unfriendly” rightsholder to a Russian acquirer and may be issued at the request of the acquirer, the rightsholder or their representatives. You can learn more about the content of the new temporary procedure and the provided exceptions in our legal Newsletter.
