Support for commercial exploitation of intellectual property rights

Vice Chairman of the National Assembly , Senior Lieutenant General Tran Quang Phuong chaired the meeting. Photo: Quang Khanh

The meeting's presiding delegation. Photo: Pham Thang

Encourage the use of intellectual property rights for loans or mortgages

The summary report of the draft Law on amending and supplementing a number of articles of the Law on Intellectual Property presented by Minister of Science and Technology Nguyen Manh Hung clearly stated that the draft Law on amending and supplementing the provisions of the Law on Intellectual Property focuses on 5 groups of policy contents including: supporting the creation and commercial exploitation of intellectual property objects to promote innovation; simplifying administrative procedures, facilitating the registration and establishment of intellectual property rights; improving the effectiveness of intellectual property protection activities; ensuring full implementation of Vietnam's international commitments on intellectual property protection in the integration process; updating new issues in intellectual property protection in the world in accordance with Vietnam's policies and socio-economic development level.

In order to support the creation and commercial exploitation of intellectual property (IP) objects to promote innovation, the draft Law amends and completes regulations on cases of limitation of copyright and related rights in broadcasting activities; on the right to register IP and commercially exploit these rights for the results of scientific and technological tasks using the state budget; on the representative to exercise the rights of copyright and related rights owners, on collective management of rights, and on the organization of rights representative services (Articles 26, 33, 42, 56, 57, 86, 92, 123, 164, 183). At the same time, amend and complete regulations against abuse of IP monopoly and abuse of IP protection measures (Articles 146, 198).

Vice Chairman of the National Assembly Nguyen Khac Dinh and delegates attending the meeting. Photo: Quang Khanh

Minister of Science and Technology Nguyen Manh Hung presented a summary of the draft Law amending and supplementing a number of articles of the Law on Intellectual Property. Photo: Quang Khanh

The draft Law supplements regulations on finance based on intellectual property rights: encouraging the use of intellectual property rights to borrow capital or mortgage to borrow capital according to the provisions of law on finance, banking and related laws; the owner of intellectual property rights self-determines the value and creates a separate list for management in cases where intellectual property rights do not meet the conditions for recording asset value in accounting books; the Government regulates the establishment of a national database on the prices of legally traded intellectual property rights, stipulates principles, criteria and general guidelines on methods for determining the value of intellectual property rights (Article 8a)...

Delegates attending the meeting. Photo: Quang Khanh

To simplify administrative procedures, the draft Law amends and completes regulations on establishing industrial property rights in the direction of the Minister of Science and Technology to specify in detail (Articles 89, 107, 108, 109, 113, 114, 117, 118, 119a, 120a, 150); amends and completes regulations on registration of copyright, related rights, and rights to plant varieties to improve the efficiency of online public services and simplify administrative procedures (Articles 49, 50, 51, 55, 165, 170, 176, 183, 191).

In addition, the draft Law also amends regulations to shorten the processing time for industrial property registration applications and plant variety protection registration applications (Articles 110, 112a, 119, 178).

Need to improve regulations related to artificial intelligence

Briefly presenting the Review Report, Chairman of the Law and Justice Committee Hoang Thanh Tung said that the Committee agreed with the necessity and purpose of developing a Law amending and supplementing a number of articles of the Law on Intellectual Property stated in the Government's Submission.

Chairman of the Committee on Law and Justice Hoang Thanh Tung presented a summary of the Inspection Report. Photo: Quang Khanh

The Committee on Law and Justice also requested the drafting agency to continue researching, reviewing and perfecting the provisions of the draft Law related to artificial intelligence to meet the requirements of development, protection of rights and legitimate interests of intellectual property rights holders; meet the requirements of innovation in legislative thinking, strengthening decentralization, delegation of power and digital transformation in state management of intellectual property.

Regarding the granting of certificates to collective management organizations of copyright and related rights (amending Article 56 of the Law on Intellectual Property), the Committee proposes not to prescribe additional content on criteria (Clause 1a) and administrative procedures for "recognition" by competent state agencies (Clause 1b) for collective management organizations of copyright and related rights to avoid duplication and conflict with the provisions of the current Law, and at the same time, not to create administrative procedures for the establishment of collective management organizations of copyright and related rights.

Regarding business conditions, procedures for recording and deleting names of copyright and related rights representative service organizations (amending Article 57 of the current Law), Chairman of the Law and Justice Committee Hoang Thanh Tung noted that the draft Law supplements the provision that copyright and related rights representative service organizations are conditional investment and business sectors and occupations. The Chairman of the Law and Justice Committee suggested that it is necessary to carefully assess the policy impact compared to the requirement to reduce investment and business conditions according to Resolution No. 68-NQ/TW of the Politburo on private economic development. In case the above provisions are still added, it is suggested that the transitional content in Article 3 of the draft Law should be added appropriately and fully.

Source: https://daibieunhandan.vn/ho-tro-khai-thac-thuong-mai-cac-doi-tuong-quyen-so-huu-tri-tue-10393146.html