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The purpose of this article is to evaluate whether the tax benefits defined by public policies to encourage technological innovation, highlighting the Fiscal Incentives Act (Good of Law), are contributing appropriately to stimulate technological innovation in Brazilian companies, with emphasis in the industrial market-oriented external. This study will be based on the evaluation of the consistency of the Law of Technological Innovation - LIT (Federal Law. 10,973, of 02.12.2004), and in particular, the Fiscal Incentives Act (Federal Law. 11.196/2005 or Good Law). The study is supported by the theory of innovation as well as the Laws of Innovation and incentives. Analysis of the studies, reports and documents showed that public policies to encourage technological innovation in companies has a strategic role as stimulate productive agents who need to make crucial decisions how to innovate in an environment full of uncertainties about the consequences of their future decisions. In turn, it became clear that this requires that public policy innovation act as effective instruments to encourage businesses in the area ofinnovation, in order to make them more competitive. We conclude that the Fiscal Incentives Act - although still restricted to business income, ie, mostly the large ones - can be framed within a modern conception of tax incentives. Thus, in spite of the difficulties and shortcomings in its implementation, the Fiscal Incentives Act presents itself as an important instrument to stimulate domestic companies, through tax incentives, innovation in Brazil. [ABSTRACT FROM AUTHOR]