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South Africa Case Law

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Commercial And Corporate [2011] ZASCA 29

Oilwell (Pty) Ltd v Protec International Ltd and Others (295/10)

Oilwell (Pty) Ltd v Protec International Ltd and Others (295/10) [2011] ZASCA 29; 2011 (4) SA 394 (SCA); 2011 BIP 400 (SCA) (18 March 2011)

Court
Supreme Court of Appeal
Case number
295/10
Judges
Harms, Lewis, Ponnan, Malan, Theron

The Supreme Court of Appeal held that trade marks are not 'capital' within the meaning of regulation 10(1)(c) of the Exchange Control Regulations. The term 'capital' is used in a financial sense and does not include all assets with monetary value. Trade marks, like other intellectual property rights, are territorial and akin to immovables, and cannot be exported. The assignment of the trade mark to a foreign company did not constitute the export of capital. Furthermore, even if Treasury consent was required, the absence of such consent does not render the assignment agreement void. The Regula…

Source excerpt

  • Exchange Control Regulations
  • Assignment Of Trade Marks
  • Rectification Of Register
  • Statutory Interpretation
  • Voidness Of Contracts
  • Territoriality Of Ip Rights
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Commercial And Corporate [2010] ZAGPPHC 7

Oilwell (Pty) Limited v Protec International Limited and Others (44835/08)

Oilwell (Pty) Limited v Protec International Limited and Others (44835/08) [2010] ZAGPPHC 7; 2010 BIP 116 (GNP) (17 February 2010)

Court
North Gauteng High Court, Pretoria
Case number
44835/08
Judge
Prinsloo

The court held that the assignment of a South African trade mark to a foreign entity does not fall within the ambit of regulation 10(1)(c) of the Exchange Control Regulations, as intellectual property is not mentioned in the regulations and the concept of 'capital' should be interpreted narrowly. The territorial nature of trade mark rights means that their assignment does not constitute the export of capital. Even if there was a contravention, the regulations do not provide that such a transaction is null and void; the penalty provision is intended as sufficient punishment. Declaring the assi…

Source excerpt

  • Assignment Of Trade Marks
  • Exchange Control Regulations
  • Nullity Of Contract
  • Prescription
  • Territorial Nature Of Ip
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About this LexChat collection

South Africa decisions are organised by court, judge, legal area and indexed issue so a practitioner can move from a proposition to a citable authority with the surrounding context intact.

Source links and collection timestamps are retained alongside the indexed records.