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The development of intellectual property rights in Montenegro started when Montenegro became independent in 2006 and since the Intellectual Property Office of Montenegro – which deals with industrial property rights – started operations in 2008.

Recent research shows that Montenegro has a high hydro-energy potential with a noteworthy index of cost-effectiveness of investments and favorable ecological and social environments. The estimated theoretical hydro potential on the main water courses totals 9,846 GWh/year. Out of this capacity, less than 1,800 GWh, or only 17%, has been harnessed so far. 

Montenegro is located in the Western Balkans, with a population of only just over 600,000. Once it was part of former Yugoslavia and today it is a country that has independently done a lot on its European integration path.

The Vujacic law office has advised in the due diligence of the EBRD and KFW Ipex-Bank in connection with a project financing of a wind farm in Krnovo, Montenegro, as well as assisting in the drafting and negotiation of security documents. The Krnovo wind firm is operated by Akuo Energy, and is the first wholly private wind farm in the country. The firm reports a deal value of EUR 98 million.

Montenegro has a small and highly open economic system, and is a stable environment worth investing in, as well as being a globally-recognized tourist and travel destination with high potential for further development.