Investments in sectors such as forestry, hotels, and agro-industries are subject to additional specific incentives. A government decree establishes that local products or services of equal quality, and no more than ten percent more expensive than foreign goods or services, shall be given preference in government tenders. There is no requirement that nationals own shares, that the share of foreign equity be reduced over time, or that technology be transferred on certain terms. There are no government-imposed conditions on permission to invest. Protection of Property Rights Secured interests in property, both movable and real, are recognized and enforced.
Mortgages exist and there is a recognized and reliable system of recording such security interests.
Uruguay has a legal system that protects and facilitates acquisition and disposition of all property rights, such as land, building, and mortgages. Although Uruguay is a WTO member, its IP regime does not yet meet international TRIPs standards. Uruguay was raised to the Priority Watch List by USTR in 2001 due to lack of a TRIPs-consistent copyright legislation, among other problems. The extent to which the current law protects computer software is subject to judicial interpretation each time a case is presented. Law number 17164 on patents was passed on September 2, 1999.