Finland - Joint Ventures/LicensingFinland-Joint Ventures/Licensing
Joint ventures and license agreements may be useful options for setting up a business in Finland. Licensing is governed primarily by general contract law, competition law, and laws regulating intellectual property rights. Product licensing agreements are quite common in Finland because of the good quality of Finnish manufacturing, the small size of the market, and the relatively high cost of transporting goods to the country. Royalties and licensing fees may be freely transferred out of Finland.
Considerations in forming a joint venture or licensing agreement include possible tax implications, local legal systems, accounting principles, special permits, and registration procedures. Companies should be aware of the Finnish Competition Act when discussing the legal requirements for joint ventures. The Competition Act is intended to protect effective economic competition from harmful restrictive practices.