Proposal to consider intellectual property as a type of transactional asset

(Dan Tri) - According to Minister of Science and Technology Nguyen Manh Hung, the draft Law amending the Law on Intellectual Property aims at commercializing inventions, simplifying procedures and protecting rights in the digital environment.

On the afternoon of October 27, on behalf of the Prime Minister, Minister of Science and Technology Nguyen Manh Hung briefly presented the draft Law amending and supplementing a number of articles of the Law on Intellectual Property (IP).

The National Assembly listened to the presentation and report on the review of the Draft Law amending and supplementing a number of articles of the Law on Intellectual Property (Photo: NA).

View intellectual property as a type of asset

According to Minister Nguyen Manh Hung, the draft law focuses on promoting the "commercialization" of intellectual property - that is, turning inventions, patents, works or designs... into sources of revenue and growth drivers for the economy .

"The draft law is supplemented with contents on the State's policies in supporting the creation and commercial exploitation of intellectual property rights objects to promote innovation, such as supporting the creation, establishment, exploitation, management, and development of intellectual property rights objects, supporting pricing, applying intellectual property transfer models, and intellectual property rights sharing mechanisms," said Mr. Hung.

Minister Nguyen Manh Hung read the draft Law on amending and supplementing a number of articles of the Law on Intellectual Property (Photo: NA).

Notably, according to the draft, intellectual property rights can be used as collateral when borrowing from banks, or become a source of capital contribution in start-up businesses.

The draft law assigns the Government to build a national database on the transaction value of intellectual property rights, with guidance on principles and methods for determining value. This is considered a breakthrough, creating a legal corridor for knowledge and innovation to "flow" into the economy like other tangible assets.

In addition, the State will also give priority to ordering, purchasing and using products and services created from inventions, software, plant varieties and designs developed by Vietnamese people, in order to encourage domestic innovation.

These contents not only expand the scope of protection, but also shift the policy focus from "protecting rights" to "exploiting intellectual property rights", helping Vietnam better utilize intellectual property as a resource for digital economic development and international integration.

Shorten the copyright registration process

According to the Minister of Science and Technology, regulations on registration of patents, trademarks, copyrights, and plant varieties are being revised to shorten time, reduce procedures, and switch to a post-inspection mechanism.

The draft law supplements regulations on prioritizing resource development, investment in information technology infrastructure, digital platforms serving intellectual property operations, specialized IP databases, clarifies the responsibilities of applicants regarding the information declared in the application to transfer to the post-audit mechanism, and supplements regulations on conditions to ensure state management of IP.

"These changes aim to improve the capacity to handle administrative procedures, increase transparency and speed up the process of handling administrative procedures," said Minister Hung.

In addition, the law is amended to add new protected subjects, such as cable signals, audio-video recordings, producers of records, and to provide more specific provisions on the scope of infringing goods that are destroyed or distributed through non-commercial channels.

Need to clarify the mechanism of "financialization" of intellectual property rights

Mr. Hoang Thanh Tung, Chairman of the Committee on Law and Justice, assessed that the draft Law dossier was prepared seriously and elaborately, in line with the Party's policies and basically ensured the unity of the legal system.

However, for further improvement, the Committee recommends reviewing and editing some specific contents.

Regarding the limitation of intellectual property rights, the Committee requests to correct the wording to avoid misunderstanding that the right holder is only protected by litigation, while the current Law allows for the application of many other measures.

Mr. Hoang Thanh Tung, Chairman of the Committee on Law and Justice (Photo: NA).

Regarding financial regulations based on IP rights, the Committee supports the policy of allowing IP rights to be used as financial assets, but requests clarification on what is meant by "not meeting the conditions for recording asset value in the accounting books", and how the "separate management" of IP rights will be carried out.

Regarding the organization of copyright and related rights representative services, the Committee believes that if this is determined to be a conditional business sector, it is necessary to carefully assess the impact to ensure compliance with the policy of reducing investment and business conditions in Resolution 68-NQ/TW of the Politburo.

The Committee also raised the issue of the responsibility of intermediary service providers, and the need to supplement clearer regulations on the obligation to provide information identifying violators, helping authorities handle acts of rights infringement in the digital environment.

Source: https://dantri.com.vn/thoi-su/de-xuat-coi-so-huu-tri-tue-la-mot-loai-tai-san-giao-dich-20251027151545861.htm