Vsesoyuznoe Ob’edinenie “Licensintorg” was established by the decision of the Government issued on July 4, 1962 as a foreign trade organisation for international technology exchange with foreign countries on a commercial basis.

Licensintorg entered the World market with Russian technologies developed in scientific institutes practically for all branches of national economy.

Until 1991 Licensintorg operated as authorized customer of governmental investments into national economy with assistance of foreign suppliers, and also, as an authorized supplier of national industrial property rights.

Licensintorg covered about 75% of imports of foreign licenses to modernize national plants and factories dealing with defence and consumer products.

VO “Licensintorg” was transformed into Vsesoyuznoe Hozraschetnoe Vneshnetorgovoe Ob’edinenie (All Union Self-financing Foreign Trade Enterprise). Licensintorg exported the industrial property rights for more than 1,6 billion US dollars and took up a worthy place in the World technology exchange.

Licensintorg sold to foreign buyers, together with high-tech licenses, such licenses as technology to manufacture Champaign (France), Kvas (Germany), Kefir (Japan), and Black bread (Finland).