The Innovation Law (n. 10.973/2005) regulates the incentives to innovation and technological and scientific research in the productive environment. The Innovation Law aims at:
- Fostering the creation of specialized and co-operative environments for innovation;
- Fostering the involvement of Technological and Scientific Institutions (ICT) during the innovation process;
- Fostering innovation in companies;
- Fostering independent inventors;
- Fostering the creation of innovation investment funds.
It is the first Brazilian law that regulates the relationship between Universities (and Research Institutions) and companies.