Except for the few restricted areas of business activity, the starting of business operation by a foreign company or national requires no formalities other than court registration. Ownership rights of foreigners are guaranteed by law, and so is full repatriation of profits and investments. Foreign investors have full access to courts and administrative tribunals. Patent protection is provided for 20 years from the date of filing a patent application and copyright protection terms extend to the life of the author plus 50 years. Copyright protection includes computer software and integrated circuit layout designs.
Violators face up to five years of prison plus heavy penalties.
The transition phase with its restrictive wage policies, high interest rates, and the elimination of state subsidies, severely dampened domestic demand. This situation, however, was turned around in a relatively short time. By 1992, the downward trend in the economy was reversed. Poland's annual GDP grew by 7.0 percent in 1995 and by 6.0 percent in 1996. For the most part, the recovery has been spurred by a rise of entrepreneurial spirit and a free-enterprise mentality of the Polish people.