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It also borrows much from the French commercial code and company law. Codified areas of business law in Iran include: The code is broadly similar to employment laws in other Middle Eastern countries. However, employees are permitted to change their mind about the resignation within 15 days.
Non-Iranian nationals need immigration permission and work permits to be able to work in Iran. There are strict rules on employment of non-Iranian nationals if Iranian citizens are similarly qualified and able to perform the work in question.
FIPPA allows investment across most industries and fields including major infrastructure projects and tends not to restrict: Licences are usually issued promptly, if you can demonstrate your business activities are eligible. A business plan may also need to be submitted. The Foreign Investment Board review normally takes up to 15 days with foreign investors representatives usually invited to take part.
You will be sent a draft licence to review, and if agreeable, the investment will be licence issued. This process will usually be complete within 60 days. If a contract is signed in Iran, Iranian law applies. If the contract between an Iranian and a foreign national includes an arbitration clause, the law chosen by the contracting parties will be recognised.
This includes provisions under business law regulating the import of goods or pharmaceutical products, but also mandatory contractual provisions. Non-Iranian companies can choose to resolve disputes through: However, the judgments of the General Assembly of the Supreme Court in respect of similar cases constitute case precedent to be followed by other courts.
Arbitration clause should reference internationally accepted arbitration rules such as those of the International Chamber of Commerce International Court of Arbitrationthe Swiss Chambers Arbitration Institute or the German Institute of Arbitration.
Under the Iranian constitution, the Council of Ministers and the Parliament has to approve the referral of disputes concerning public and governmental parties to arbitration. A judicial decision has found approval should have been sought before entering into a contract.
While this may not be binding on an international arbitration tribunal, an arbitration award may be unenforceable in Iran.
The Iranian Industrial Property Office promotes IP protection and encourages accession to international agreements and treaties. Patents and trademarks in Iran Patents in Iran are valid from 5 to 20 years.
The length of patents is decided by the inventor who pays an annual fee. Patent applications are examined only for the correctness of documents and compliance with patent specifications. Trademark registrations are effective for 10 years following the date of filing and are renewable.
Trademark infringements can be challenged for up to 3 years. Rejected applications for registration of trademarks and patents can be appealed in the Iranian courts. Copyright in Iran Copyright is not regulated under Iranian law. Iran is not a party to the Berne convention for the protection of literary and artistic works.
The national law also protects foreign nationals, who create artistic, literary or technical works in the Islamic Republic of Iran. · The challenges faced by U.K. financial firms doing business in the European Union after Brexit could be about to get even tougher.
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