While copyright infringement has always been a serious global matter, the issue is even more complex in the fields of art, literature, and music – and in a young industry like Vietnam, content creators are struggling to navigate the intellectual property minefield while trying to catch up on the international stage.
The long-awaited amended Law on Intellectual Property is expected to boost innovation and commercialisation of intellectual property assets in Vietnam once it takes effect in 2023. Huynh Thanh Dat, Minister of Science and Technology, talked to Hoang Giang about the important highlights that will create breakthroughs in the field.
In the last few years, Vietnam has signed a certain number of international trade agreements which require Vietnam to accede to or approve the WIPO Copyright Treaty (WCT) within a prescribed time period. Partner Nguyen Thi Hong Anh and junior associate Vu Hoang Ha Thu of Indochine Counsel take a look at amendments and supplements made in the Law on Intellectual Property in June.
While ministries in Vietnam are working on legal amendments to promote digital transformation, foreign-invested enterprises are looking for more reform of legal and policy in conjunction with other areas such as intellectual property and customs tax to facilitate their next steps.
Lawyer Pham Duy Khuong, managing director of ASL Law, has just been honoured by Asia Business Law Journal with a position among the top 100 lawyers in Vietnam, following the successful chain of this business after being ranked highly by Asia Law the fields of Corporate Law, M&A and Intellectual Property in 2021.
The Law on Intellectual Property was issued in 2005 and has since helped regulate legal relations related to intellectual property (IP). However, a lot has changed since 2005. Vietnam is not purely a user of IP, but has transformed into a nation of creating IP assets to serve a deeper growth model.
Many trademark owners think that the most critical aspect of their trademark is that it is registered, but this is not the case. Intellectual property attorney Nguyen Vu Quan from KENFOX IP & Law Office offers examples that illustrate the risks that trademark owners face.
The intellectual property of reputable and well-known businesses is perpetually the target of imitation. Nguyen Vu Quan, IP attorney at Kenfox IP and Law Office, explains the solutions in Vietnam for businesses in this area.
After an inspection through the Ministry of Science and Technology, local firm Dai Hoa Phat had to follow through with the removal of all of SIKA AG's logos, material, and trademarks in July after the latter filed a complaint through local law firm SB Law.
An Phat Holdings, a leading environmentally friendly plastic group in Vietnam with a closed business ecosystem, has just received the investment certificate for its PBAT manufacturing mega-project, An Phat PBAT. Simultaneously, the group has announced a contract with Technip Energies, a world-leading engineering and technology player, for the Front End Engineering Design (FEED) bidding package of the plant and that its patents on green material creation have been granted intellectual property rights.
In Vietnam, the government has drafted a new decree on the protection of personal data, expected to come into effect at the end of the year. Yen Vu, Trung Tran, and Khanh Nguyen from global intellectual property leader Rouse focus on the proposed provisions on obligations of cross-border information providers and data centre services.
According to the ranking of the 100 most valuable brands globally published in 2020 by UK-based brand ranking and consulting company Interbrand, the United States was the country with the most intellectual property assets. Specifically, in the top five most valuable brand names in the world, there are four American brands in the technology sector. Although it was reported last year that Apple is now worth over $2 trillion in market value, its brand value is estimated to be around $322 billion, which is nearly equivalent to Vietnam’s 2019 GDP.
MoMo completed the acquisition of all intellectual property rights of Pique AI (formerly NextSmarty), a company providing AI solutions to personalise customer experience for digital businesses.
No doubt intellectual property is an extremely important asset of business entities. Good strategies for the protection and enforcement of intellectual property rights (IPRs) for domestic and international markets can add immense value to such entities, which sometimes exceeds value acquired from development of products.
With an increasing number of brand names of Vietnamese enterprises such as Pho Thin 13 Lo Duc and ST25 rice recently taken advantage of in the US market, protection of trademarks in the States through the United States Patent and Trademark Office (USPTO) becomes crucial. Le Quang Vinh, intellectual property attorney from law firm Bross & Partners, writes about how enterprises can shun such a predicament in foreign markets, especially the US.