Patent means the title granted to protect an invention. The law explains further that an invention is an idea of an inventor which permits in practice the solution to a specific problem in the field of technology. Inventions relate to the product itself or the process. Most often, these products [...]

Ghanaian law requires that banks obtain a license in order to legally operate. The law that governs the procedure and the statutory requirement for obtaining a banking license in Ghana is the Banking Act, 2004 (ACT 673). Under the Ghanaian laws, a bank must be incorporated and given a certificate [...]

For foreigners who seek to trade in Ghana, the law governing foreign trade is the Ghana Investment Promotion Centre Act, 1994, Act 478. Generally, certain enterprises are reserved for Ghanaians and it is an offence for foreigners to participate in those specified enterprises. Enterprises reserved for Ghanaians include the following; [...]

In Ghana, Powers of Attorney are governed by the Power of Attorney Act 1998, Act 549. A power of attorney may be defined as a document authorising a person to act on behalf of another person. The person authorising another to act on his behalf is known as the “principal [...]

Labour Act, 2003, Act 651 gives an insight on termination of employment and redundancy. Termination of Employment Under Act 651, a contract of employment may be terminated by either party at any time. However, where the contract of employment is for three (3) years or more, it may be terminated [...]

The purpose of this article is to describe the statutory requirements for operating a Credit Bureau under Ghanaian law. Credit Reporting Act, 2006 (Act 726) Licensing Requirements The act gives the Bank of Ghana supervisory and regulatory authority over all credit bureaus. In order to operate a credit bureau legally, [...]

The Central Securities Depository (CSD) functions in a form of a “bank” for securities where all transactions (debit and/ or credit of securities) of investors are made. This Article Presents an overview on the establishment and functions of Central Securities Depository. The Central Securities Depository (CSD) is a computer based [...]

Relevant statutory guidelines for operating a Forex Bureau under Ghanaian law are found in the Foreign Exchange Act 2006 (Act 723). The Act defines the business of dealing in foreign exchange as: • The purchase and sale of foreign currency • The receipt or payment of foreign currency • The [...]

The Fisheries Act, 2002 provides for several different types of licenses with varying licensing requirements for each one. All license applications are submitted to the Fisheries Commission, in a form and manner prescribed by the Commission. Local Industrial and Semi-Industrial Fishing Vessels/ Non-Local Industrial and Semi-Industrial Fishing Vessels Any local [...]

The number of land disputes pending at various courts in Ghana bears testimony to the problems surrounding land acquisitions. One false step in the acquisition process has the potential to lock the buyer in an expensive and never ending litigation in Court. This article provides some practical steps a potential [...]