This paper gives an overview on legal, economic and cultural characteristics that are inherent to the Brazilian business scenario and how they affect the negotiation of know how licensing agreements. The Brazilian regulatory framework and the point of view of Brazilian companies can bring out significant issues not expected by their counterparts of other countries or regions. Experience demonstrates that understanding the concepts, reasons and dynamics of emerging economies from their perspective may help U.S. legal professionals to observe relevant factors and get insights to overcome obstacles in the practice of contractual law in a multinational or multicultural environment, in particular when negotiating know how licensing contracts.