Early completion of intellectual property regulations related to artificial intelligence

Minister of Science and Technology Nguyen Manh Hung presents the report. *Photo: media.quochoi.vn*

Presenting the report, Minister of Science and Technology Nguyen Manh Hung said that the draft Law amending and supplementing the provisions of the Law on Intellectual Property focuses on 5 groups of policy contents. In particular, for the policy of "Supporting the creation and commercial exploitation of intellectual property objects to promote innovation", the draft adds regulations on finance based on intellectual property rights with the encouragement of using intellectual property rights to borrow capital or mortgage to borrow capital according to the provisions of the law on finance, banking and related laws.

The draft supplements the need for intellectual property owners to self-determine the value and create 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, and stipulates principles, criteria and general guidelines on methods for determining the value of intellectual property rights.

According to the Minister of Science and Technology, the addition of the above provisions will create a complete legal basis to promote the commercial exploitation of intellectual property rights, turning intellectual property rights into assets with commercial value, which can be exploited and used like other tangible assets.

Scene of the meeting on the afternoon of October 27. *Photo: media.quochoi.vn*

In order to improve the effectiveness of intellectual property rights protection activities, the draft Law supplements regulations on measures to strengthen rights protection in the digital environment such as: Supplementing regulations on the responsibilities of enterprises providing intermediary services; temporary measures to prevent consequences of rights infringement in the digital environment.

Along with that, regulations are added to increase resources for rights protection agencies; build a system to support rights enforcement in digital space, an interconnected online database on rights protection; train human resources for appraisal activities, and reduce conditions for granting intellectual property appraiser cards.

In addition, the draft Law also simplifies administrative procedures, facilitates registration and establishment of intellectual property rights; ensures full implementation of Vietnam's international commitments on intellectual property protection in the integration process and updates new issues in intellectual property protection in the world in accordance with Vietnam's policies and socio-economic development level.

Chairman of the National Assembly's Committee on Law and Justice Hoang Thanh Tung presents the inspection report. *Photo: media.quochoi.vn*

Presenting the review report, Chairman of the National Assembly's Committee on Law and Justice 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.

In addition, the Committee requested the drafting agency to continue to research, review and perfect 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.

Source: https://hanoimoi.vn/som-hoan-thien-cac-quy-dinh-ve-so-huu-tri-tue-lien-quan-den-tri-tue-nhan-tao-721142.html