Research on establishing a national intellectual property valuation center

Commenting on the draft Law amending and supplementing a number of articles of the Law on Intellectual Property, National Assembly Deputies Group 9 (including National Assembly Delegations from Hung Yen and Hai Phong provinces) said that it is necessary to assign a specialized ministry to develop intellectual property valuation standards according to international practices and establish a National Intellectual Property Valuation Center.

Clarifying criteria for determining intellectual property value

Discussing in groups, the National Assembly deputies basically agreed with the necessity of amending and supplementing an article of the Law on Intellectual Property.

Clause 4, Article 1 of the draft Law (supplementing Article 8a after Article 8 of the Law on Intellectual Property) stipulates that owners are allowed to self-determine the value and establish a separate management list for intellectual property rights that do not meet the conditions for recording asset value in accounting books.

National Assembly Delegate Nguyen Van An ( Hung Yen ) speaks. Photo: Khanh Duy

Agreeing that the recording of asset values ​​in accounting books must strictly comply with accounting and financial standards, Nguyen Van An (Hung Yen) however, noticed that the draft Law has not clarified and has not cited any legal regulations related to the conditions for recording asset values ​​in accounting books. According to the delegate, if there is no unified understanding, it will lead to different application of the law in practice, affecting commercial transactions, capital contributions and capital mobilization.

Therefore, delegate Nguyen Van An suggested that it is necessary to clarify the regulations and guidelines for the conditions for recording asset values ​​in accounting books. In addition, clarify whether allowing self-determination of capital contribution value and capital mobilization contains risks regarding transparency and objectivity; can it lead to legal deviation or inflate asset values, causing damage to shareholders and investors?

Also concerned about the commercialization of intellectual property, National Assembly Deputy Nguyen Ngoc Son ( Hai Phong ) proposed to review and unify regulations on the value of intellectual property rights in the draft Law; the valuation and commercialization process should be determined in other laws, especially the Law on Technology Transfer, which the National Assembly commented on at this session.

National Assembly Delegate Nguyen Ngoc Son (Hai Phong) speaks: Photo: Khanh Duy

In addition, if the owner is allowed to self-assess without guidance or supervision or without specific regulations in this draft Law, it will be difficult for the Government to guide the principles of valuation objectively. Because, the current situation shows that intellectual property is very difficult to value for capital contribution.

Therefore, delegate Nguyen Ngoc Son suggested that the drafting agency should clearly stipulate whether the subject with the right to determine the value must go through valuation organizations or not; what are the criteria for determining the value and how to classify it according to the type of intellectual property? This content should be assigned to a specialized ministry to develop valuation standards according to international practices and establish a National Intellectual Property Valuation Center. If this center is established and has independent valuation functions, and develops a transparent intellectual property trading floor system, it will be an important basis for the commercialization of intellectual property.

Clarifying the legal role and responsibilities of technology transfer centers at institutes and schools

Regarding regulations related to institutions and human resources supporting the commercialization of intellectual property at schools and research institutes, delegate Nguyen Ngoc Son said that currently, schools and research institutes lack intermediary organizations to transfer technology. Many inventions after completing research are "stored" and almost never brought out to transfer research results. That is a bottleneck in current development.

Therefore, delegate Nguyen Ngoc Son suggested that the drafting agency clarify the legal role and responsibility of technology transfer centers at institutes and schools; what is the reasonable benefit sharing mechanism between scientists, organizations, and investors? In addition, consider adding regulations assigning public science and technology organizations the responsibility to establish and maintain a technology transfer department or regulations on the minimum benefit sharing level for scientists when transferring intellectual property to ensure feasibility.

National Assembly deputies of group 9 discuss. Photo: Khanh Duy

The draft Law amends and supplements Point d, Clause 1, Article 205 of the Law on Intellectual Property in the direction of stipulating the level of compensation for material damage determined by the Court not to exceed 1 billion VND. Agreeing with the opinion of the Committee on Law and Justice that a specific ceiling should not be prescribed in the law, delegate Nguyen Van An said that stipulating a ceiling of 1 billion VND may be too low for some cases in practice, such as large-scale intellectual property infringement.

"The drafting agency carefully considered and reviewed the ceiling for compensation for material damage to ensure the stability of the law as well as its feasibility in practice," delegate Nguyen Van An stated.

Source: https://daibieunhandan.vn/nghien-cuu-thanh-lap-trung-tam-dinh-gia-tai-san-tri-tue-quoc-gia-10394460.html