Amending the Law on Intellectual Property: Turning intellectual property into a new driving force for innovation

After nearly two decades of implementation, the Intellectual Property Law has contributed to protecting and encouraging innovation. However, in the context of rapid technological development and deep international integration, the Law has revealed many limitations, causing intellectual property to not truly become an asset with commercial value. The 2025 amendment is expected to be a turning point, turning intellectual property rights into assets that can be traded, mortgaged, and mobilized capital, creating a strong push for innovation and enhancing national competitiveness.

Delegates visited the exhibition area " Science , Technology and Innovation Products" at World Intellectual Property Day (IP Day) 2025 at Thuyloi University.

Why is it necessary to amend the Law on Intellectual Property?

The Law on Intellectual Property was issued in 2005 and has been amended three times in 2009, 2019 and 2022. However, the actual application shows many difficulties: Procedures for establishing intellectual property rights are cumbersome and lengthy; sanctions lack deterrence; appraisal capacity is limited. Meanwhile, violations of intellectual property rights are increasing. Deputy Director of the Department of Domestic Market Management and Development ( Ministry of Industry and Trade ) Nguyen Thanh Nam said that in the first 6 months of 2025, the country handled more than 50,419 cases related to smuggling, counterfeit goods and intellectual property violations, with the value of infringing goods reaching thousands of billions of VND. In the trademark field alone, 1,430 cases of infringement were handled, an increase of nearly 30% over the same period last year.

Another reason is that the most recent amendment (in 2022) took place before Resolution No. 57-NQ/TU, dated December 22, 2024, of the Politburo on breakthroughs in science, technology, innovation and national digital transformation and Resolution No. 68-NQ/TU, dated May 4, 2025 of the Politburo on private economic development. These resolutions require promoting the commercialization of intellectual property, cutting administrative procedures, increasing sanctions to protect rights, and keeping up with global technology trends such as artificial intelligence, digital data, and non-physical designs. Therefore, continuing to amend the Intellectual Property Law is inevitable, in order to promptly institutionalize major policies and respond to vibrant practices.

Lawyer Truong Anh Tu, Director of TAT Law Firm, frankly stated: “Intellectual property in Vietnam is not really considered as a true asset. Although there are more than 700,000 protected trademarks, putting them into commercial circulation, pricing or using them in financial transactions is still extremely difficult. The biggest limitation is the lack of a standard pricing mechanism and supporting financial tools.”

Meanwhile, in developed countries, intangible assets account for 80-90% of the total value of enterprises. Patents, trademarks, and industrial designs not only protect creativity, but are also “soft weapons” in international competition. Therefore, as Minister of Science and Technology Nguyen Manh Hung emphasized: “Intellectual property turns research results into assets. Once they become assets, they can be valued, transferred, leased, and mortgaged to generate capital.”

Solutions to turn intellectual property into real assets

According to Deputy Minister of Science and Technology Hoang Minh, Head of the Drafting Team of the Law Project, this amendment proposes to amend up to 75 articles, focusing on 5 major policy groups, considering this a key solution to turn intellectual property into real commercial assets.

First, promoting commercialization. For the first time, the Law adds the concept of “intellectual property”, emphasizing that this is a property right associated with an intellectual property object, with economic value and commercial exploitation potential. The draft requires recording in accounting books and allowing revaluation at fair value, creating a foundation for intellectual property to participate in transactions, contribute capital, and mobilize capital. The Government also plans to pilot mechanisms such as mortgages using intellectual property rights, mobilize capital on the stock market, develop insurance and related financial products.

Second, simplify administrative procedures. The draft shortens a series of deadlines: Publication of design, trademark, and geographical indication applications from 2 months to 1 month; time for opposing patent applications from 9 months to 6 months; and trademark applications from 5 months to 3 months. At the same time, it stipulates the responsibility to keep the application confidential for all individuals involved in processing, including outsourcing units, to speed up the process of establishing rights.

Third, improve the effectiveness of intellectual property rights protection. The law tightens sanctions, assigns more responsibility to the Court and the Procuracy in protecting rights, and at the same time improves the specialized inspection function. This is a solution to increase deterrence in the context of increasingly sophisticated intellectual property violations.

Fourth, ensure the implementation of international commitments. In the integration process, the Law must be consistent with the commitments in CPTPP, EVFTA, RCEP, while balancing national interests and domestic enterprises.

Fifth, update new issues of the digital age. For the first time, the draft allows the use of legal public data to train artificial intelligence, and at the same time expands the concept of industrial design to non-physical products in the digital environment, helping Vietnam catch up with global trends.

In addition, the draft also strengthens intermediary organizations such as collective copyright management organizations and intellectual property representative services; builds a national database on intellectual property values; and provides a set of transparent pricing standards, creating trust for investors and businesses when transacting.

The amendment of the Intellectual Property Law in 2025 not only aims to overcome shortcomings, but also opens up a new way of thinking: Considering human creativity as assets that can be commercialized and circulated like real estate or securities. If effectively implemented, thousands of inventions, trademarks, and designs will no longer "lie dormant" in records, but will become economic resources, contributing to creating momentum for innovation and enhancing national competitiveness in the digital age.

Source: https://hanoimoi.vn/sua-doi-luat-so-huu-tri-tue-bien-tai-san-tri-tue-thanh-dong-luc-moi-cho-doi-moi-sang-tao-716843.html