 National Assembly delegations of Vinh Long and Son La provinces discuss the draft revised Intellectual Property Law. (Photo: Doan Tan/ VNA) |
The draft version introduces simplifying administrative procedures, facilitating registration and establishment of IP rights, and setting up mechanisms for IP rights sharing, and proposal to recognize intellectual property as a form of asset.
Deputy Nguyen Ngoc Son of Hai Phong said, “The absence of a clear legal framework has been a bottleneck in recent years. This draft law aims to address the matter that intellectual property is recognized as an intangible asset. This is an important provision to promote technology transfer and clear obstacles that have hindered the commercialization of intellectual property and inventions.”
The draft law ensures Vietnam’s full compliance with its international commitments on IP protection, including new provisions related to copyright-related rights and the destruction of goods infringing intellectual property rights.
