'Vietnam has reached the stage where it must prioritize intellectual property development'

The Minister of Science and Technology emphasized that Vietnam has reached a stage where it must prioritize the development of intellectual property, making it an important driving force for economic growth.

On the afternoon of June 23, the National Assembly Standing Committee discussed the draft Law amending and supplementing the Law on Intellectual Property. The prominent content of the draft law is to supplement policies to support the creation and commercial exploitation of intellectual property rights to promote innovation. In particular, the State supports the creation, establishment, exploitation, and management of intellectual property rights; supports the valuation and application of transfer models and mechanisms for sharing intellectual property rights.

In addition, the bill gives priority to purchasing intellectual property rights for products important to national security and socio -economic development; supplements policies to develop the intellectual property ecosystem, and encourages organizations and individuals to invest in start-up businesses. Intellectual property owners are allowed to self-determine the value and create a separate asset portfolio for management in cases where the asset value has not been recorded in the accounting books.

Minister of Science and Technology Nguyen Manh Hung emphasized that the goal of this amendment is to turn research results into assets that can be traded and bought and sold. "Only then can we form a strong market, turning intelligence into a driving force for development," said Minister Hung.

The Minister said that with this bill, intellectual property rights can be valued, bought and sold, and turned into assets. The most important change of the bill is the shift from rights protection to assetization, commercialization and marketization of research results. Thanks to that, intellectual property will become a strategic competitive tool for businesses and the country.

Currently, for developed countries, intangible assets and intellectual assets are the main ones, accounting for 70-80% of total assets. Minister Nguyen Manh Hung emphasized that Vietnam has reached a stage where it must prioritize the development of intellectual assets to develop the country, making this asset a new driving force for economic growth.

Regarding the drafting agency's concerns about "owners self-determining the value" of intellectual property, the Minister said the process of valuing intellectual property includes two steps. Step one, businesses self-determine the value, possibly through research costs and putting it into private management. Step two, they will value it through intermediary organizations and consulting organizations.

"When valued by an intermediary, the asset can be exchanged. This is a fairly common international experience and will continue to be clarified," the Minister said.

Products created by AI will not be protected.

Chairman of the Delegation Affairs Committee Nguyen Thanh Hai said he was very concerned that the bill had not yet added policies on recognizing ownership rights for products created by artificial intelligence (AI). Meanwhile, many countries have very specific legal policies to regulate and encourage the development of this industry.

"Amending the Intellectual Property Law in the context of strong digital transformation, we cannot escape. We need a legal framework to issue circulars and decrees on this," she proposed.

Vice Chairwoman of the National Assembly Nguyen Thi Thanh also acknowledged that in the context of AI developing strongly and being widely applied as it is today, the Government needs to raise the issue of whether it is necessary to recognize intellectual property rights for products created by AI. The drafting agency needs to clarify this content.

Minister Nguyen Manh Hung said that using public information on the internet to train AI is a very "hot" topic globally. AI uses information to make inferences and create new information. This is similar to people reading books or articles publicly on the internet, then thinking, creating new perceptions and applying them to work to develop.

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Regarding AI-created products, the Minister emphasized the need to make a clear distinction. Products created by AI without human participation are not protected. Products created by humans using AI as a tool are protected. This is a regulation that countries are basically applying. In the coming time, the Ministry will research and develop the Law on Artificial Intelligence to create a clear legal corridor and thoroughly manage this content.

As planned, the draft Law amending and supplementing the Law on Intellectual Property will be submitted to the National Assembly for consideration and approval at the 10th session at the end of this year.

According to VnExpress

Source: https://mst.gov.vn/viet-nam-den-giai-doan-phai-uu-tien-phat-trien-tai-san-tri-tue-197251121084638665.htm