Law to Protect the Knowledge Base Companies and Institutions and Commercialising the Innovation and Inventions.

This Law provides for support to companies and institutions that are focused on science related subjects for production, economic development and commercialisation of the researches and scientific investigation. The provision of this Law does not cover the companies with more than 50% of governmental ownership. The High Council on Research and Technology is in charge of implementation of this Law. The Law further lays out for grant of financial facility to the companies and setting up science and technology based parks. The text further refers to setting up a fund for supporting the researches and inventions to get into commercial cycle. This Law is drafted in 13 Articles.