Amended Intellectual Property Law: Allows turning research results into assets for sale

With this bill, intellectual property rights (IP) are not only protected but can also be valued, traded and become real assets. The most important transition point is from rights protection to assetization, commercialization and marketization of research results. Thanks to that, IP will become a strategic competitive tool for businesses and the whole country.

On the afternoon of October 27, continuing the working program of the 10th Session, 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. Authorized by the Prime Minister, Minister of Science and Technology Nguyen Manh Hung presented the Draft Law amending and supplementing a number of articles of the Law on Intellectual Property.

At the meeting, Minister of Science and Technology Nguyen Manh Hung emphasized that the purpose of promulgating the Law amending and supplementing a number of articles of the Law on Intellectual Property is to create a solid and favorable legal corridor for intellectual property protection activities, especially for a number of fields in which Vietnam has potential and advantages; promote innovation, develop the intellectual property market; create a favorable environment for receiving, absorbing, mastering and applying advanced scientific and technological achievements.

The viewpoint of building the Law amending and supplementing a number of articles of the Law on Intellectual Property is to institutionalize and promptly concretize the Party's policies, ensure the unity and synchronization of the legal system and international commitments; resolve legal gaps in the face of new development trends; identify problems to promptly amend and remove, creating favorable conditions for the establishment and exploitation of intellectual property rights; innovate thinking and methods of state management of intellectual property activities, and reduce the burden of administrative procedures for relevant organizations and individuals.

5 major policies were revised and supplemented

The Draft Law amending and supplementing a number of articles of the Law on Intellectual Property inherits the scope of regulation as the current Law on Intellectual Property and retains the same subjects of application as the current Law on Intellectual Property. The Draft Law amends and supplements 75 articles; focusing on 05 groups of main policy contents:

Minister Nguyen Manh Hung presented the Draft Law amending and supplementing a number of articles of the Law on Intellectual Property.

Firstly, support the creation and commercial exploitation of intellectual property objects to promote innovation. Accordingly, the amended Law completes the pricing mechanism through determining the value and establishing a separate list for management of intellectual property rights that do not meet the conditions for recording asset value in accounting books; handling intellectual property conflicts, preventing abuse of intellectual property monopoly; intellectual property registration rights, commercial exploitation of research results using the state budget; and borrowing capital based on intellectual property rights.

Support the promotion of the intellectual property trading market, support pricing, guide the application of transfer models and intellectual property sharing mechanisms; build a database on intellectual property prices.

Second, simplify administrative procedures to facilitate registration and establishment of intellectual property rights. Accordingly, registration and establishment of intellectual property rights procedures are simplified, application processing time is shortened, post-inspection is enhanced, and resources are increased to carry out procedures.

Third, improve the effectiveness of intellectual property protection activities. The draft supplements measures and sanctions for intellectual property infringement in the digital environment, increases the responsibility of intermediary service providers; adds an intellectual property protection agency; clarifies acts of abusing intellectual property protection procedures; expands the scope of intellectual property infringements subject to administrative sanctions; increases the level of compensation for damages according to law; increases resources for rights protection agencies and measures to support organizations and individuals in protecting intellectual property rights.

With this bill, intellectual property rights are not only protected but can also be valued, traded and become real assets.

Fourth, ensure full implementation of Vietnam's international commitments on intellectual property protection. The amended law supplements the subjects of protection of rights related to copyright, expands the scope of destruction of goods that infringe intellectual property rights, and clarifies regulations on producers of audio and video recordings to ensure implementation of international commitments on intellectual property.

Fifth, update new issues in intellectual property protection. The amended law allows the use of legally published documents and data that are accessible to the public for the purpose of researching, training and developing artificial intelligence systems; industrial design protection for product parts and virtual assets; patent protection for computer programs, algorithms and business methods in some cases; and trademark protection containing country names.

Ensuring consistency and feasibility in amending the Law on Intellectual Property

On behalf of the examining body, Chairman of the Committee on Law and Justice Hoang Thanh Tung affirmed that the Committee agrees with the necessity and purpose of drafting the Law amending and supplementing a number of articles of the Law on Intellectual Property stated in the Government's Submission. The draft Law dossier has been seriously and elaborately prepared by the Government, meeting the provisions of the Law on Promulgation of Legal Documents. The content of the draft Law is consistent with the Party's policies and guidelines; ensures constitutionality, basically ensures the unity of the legal system, and compatibility with relevant international treaties to which Vietnam is a member. The Committee on Law and Justice requests 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.

Chairman of the Committee on Law and Justice Hoang Thanh Tung.

Regarding the granting of certificates to collective management organizations of copyright and related rights (amending Article 56 of the Law on Intellectual Property), Mr. Tung said that the Committee proposed not to stipulate 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 on Intellectual Property.

Regarding business conditions, procedures for recording and deleting names of copyright and related rights representative service organizations (amending Article 57 of the Law on Intellectual Property), the Law and Justice Committee recommends that the drafting agency carefully assess the policy impact compared to the requirement to reduce investment and business conditions according to Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development. In case the above provisions are still added, it is recommended to add transitional content in Article 3 of the draft Law to make it suitable and complete.

Regarding legal responsibility for copyright and related rights for enterprises providing intermediary services (amending Article 198b of the Law on Intellectual Property), the Committee proposed to supplement regulations on the responsibility of intermediary enterprises in providing information to identify and identify subjects of intellectual property rights infringement to have a basis for handling violations of the law in this field.

Regarding legal responsibility for copyright and related rights for enterprises providing intermediary services (amending Article 198b of the Law on Intellectual Property), the Committee proposed to supplement regulations on the responsibility of intermediary enterprises in providing information to identify and identify subjects of intellectual property rights infringement to have a basis for handling violations of the law in this field.

Center for Science and Technology Communication

Source: https://mst.gov.vn/luat-so-huu-tri-tue-sua-doi-cho-phep-bien-cac-ket-qua-nghien-cuu-thanh-tai-san-mua-ban-1972510271819372.htm