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The Hydrocarbons Law (No. 17.319) establishes the basic legal framework for the regulation of oil and gas exploration and production in Argentina. Oil and gas and reserves are the provinces¡¯ domain.

The Secretariat of Energy is the Hydrocarbons Law enforcement agency. Hydrocarbons exploration and production activities are subject to the secretariat¡¯s registration requirements. To become a holder of an exploration permit or production concession, oil companies must register with the secretariat and/or with the province involved.

Foreign investment rules

Foreign investors require prior government approval only for investments in regulated areas or where general regimes apply, such as antitrust regulations.

If the investment consists of holding equity of an Argentine company, the foreign company must register with the Pubic Register of Commerce, under section 123 of the Argentine Companies Law, and comply with certain periodic reporting requirements.

Foreign investments are governed by the Foreign Investments Law (No. 21.382), enacted in 1976. The law states as a general principle that foreigners investing in economic activities in Argentina enjoy the same status and have the same rights that the constitution affords local investors. Both are entitled to select any form of organization permitted by law, and to have free access to domestic and international financing.

Technology transfer and IP

Argentina allows technology transfer agreements. However, all agreements must be registered with INPI (the Instituto Nacional de la Propiedad Industrial) ¨C the Institute of Industrial Property. Certain tax benefits apply to these agreements.

Argentina adheres to the Paris Convention (Law 17.011) and to the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement (Law No. 24.425), but not to the Patent Cooperation Treaty.

Trademark protection is granted for a 10-year term, renewable indefinitely for 10-year periods provided the trademark has been used in the five years prior to the expiration date.

Patents and utility models are governed by Law No. 24.481 and Decree No. 260. The law provides that patents will be granted for any invention that complies with the requirements of novelty, inventive step and capability of industrial application. Patents are granted for 20 years from the date of application.

Copyright matters are governed by Law No. 11.723, which extends protection to scientific, literary and artistic works, regardless of the process of reproduction.

The legal status of domain names in Argentina is not settled. No legislation deals specifically with domain names and courts have avoided the issue. Some administrative resolutions regulate domain name registration.

Competition issues

The Antitrust Law (No. 25.156) prohibits certain acts or conduct relating to the production and exchange of goods and services if they may cause harm to the general economic interest and they limit, restrict, falsify or distort competition, or they constitute an abuse of a dominant position in a market.

The Antitrust Law applies to all individuals and entities that carry on business activities in Argentina and to those that carry out business activities abroad, to the extent that their acts, activities or agreements may have effects in the Argentine market.

Labour and social welfare

Employer-employee relations in Argentina are mainly governed by the Labour Contract Law (No. 20.744), by collective bargaining agreements and by the terms of labour contracts between employers and their employees.

Pursuant to Argentine law, employers and employees must make social security contributions for family allowances, medical services and pension and unemployment benefits. In addition, pursuant to many collective bargaining agreements, a percentage of employees¡¯ salaries may be withheld.

Immigration

Citizens of most countries are required to obtain a visa to enter Argentina for up to three months. A foreigner who wishes to reside and work in Argentina must obtain a residence permit from the Argentine Immigration Board.

A permanent residence permit gives a non-citizen the right to reside and work in Argentina indefinitely. A foreigner who is related to an Argentine citizen or who has extended temporary residence may apply for permanent residence.

Foreigners who wish to enter the country for a limited period may apply for non-permanent residence. Applicants who seek to work in the country must provide corporate information and must enter into an employment contract that contains certain required clauses regarding term and visa requirements.

Environmental law

Argentina¡¯s Environmental Law (No. 25.675) establishes minimum standards for the management of the environment, sustainable development and the preservation and protection of different species. The law sets out the objectives of the national environmental policy and creates a federal system to coordinate the environmental policies of the federal government, the provinces and the city of Buenos Aires.

This law applies to the entire country and is used for the interpretation and application of legislation in specific areas. To remain in effect, specific legislation must conform to the principles and provisions in the Environmental Law.