OCS Law definition
OCS Law means the Law for Encouragement of Research and Development in the Industry, 1984 (as amended), and any regulations, rules and guidelines promulgated thereunder.
Examples of OCS Law in a sentence
Each Shareholder undertakes to observe strictly all the requirements of the OCS Law, as applied to Fundtech and as directed by the Research Committee, including those requirements stipulated under Section 19 of the OCS Law relating to the prohibition on the transfer of know-how and production rights.
Each Shareholders acknowledges that he is aware that Fundtech has received funding for certain research and development projects from the government of the State of Israel through the Office of the Chief Scientist under the Encouragement of Research and Development in Industry Law 577-1984 (the "OCS Law") and the regulations thereunder, and that the OCS Law places strict constraints on the transfer of know-how and production rights.