What are the benefits of intellectual property protection for a company?

Intellectual property includes a Trademark, Copyright, and Patent. It is important for a business as it shields them from rivals so that their idea or invention does not get copied.

Protect Intellectual Properties Rights in Vietnam

Intellectual property, like any other company asset, is part of a mix or resources that a company will use to create products and grow market share. IP is valued (in an accounting sense), sold, created or purchased based on a company’s strategy or business model - just like normal assets.

Some companies are very IP focused (software, pharma) and some not so much. Companies with a lot of licensing activities (think films & toys) are also very IP focused even though you may not immediately think so. IP is a means to differentiate your business (trademarks) or, if you have the financial resources, blocking competitors (patents). Again, this all boils down to how you want to use your company’s resources.

Along with this, there are other benefits that prove that intellectual property protection is important for a company. They are:

-Ability to have competitive advantages over small businesses.

-Enhances company value and goodwill.

-It helps to market your products and services.

-It provides export opportunities.

-You can easily acquire financial support for business.

Hope this helps…

Source: Quora

If you are interested in finding IP services in Vietnam, let ANT Lawyers helps. We can connect you with a skilled lawyer that is much more affordable than a traditional law firm attorney. Check us out and please get in touch if you’d like more assistance.

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Subject Matters of Intellectual Property Rights

Intellectual property subject matter is divided into three groups included: subject matter of copyright, subject matter of industrial property rights, subject matter of rights to plant varieties. In details:

Protect Intellectual Properties Rights in Vietnam

-The subject matter of copyright shall comprise literary, artistic and scientific works; the subject matter of copyright related rights shall comprise performances, audio and visual fixation, broadcasts and satellite signals carrying coded programmes.

-The subject matter of industrial property rights shall comprise inventions, industrial designs, designs of semi-conducting closed circuits, trade secrets, marks, trade names and geographical indications.

-The subject matter of rights to plant varieties shall comprise plant varieties and harvested materials.

Pursuant to Intellectual Property right 2005 (amended in 2009), Intellectual property rights means rights of an organization or individual to intellectual assets comprising copyright and copyright related rights, industrial property rights and rights to plant varieties. For example, software computer program can be protected under Copyright, or name of a product can be protected under Industrial property right that is Trademark or the outward appearance of a car can be protected as Industrial design.

However, intellectual property rights are generated and established based on certain grounds:

Firstly, copyright shall arise at the moment a work is created and fixed in a certain material form, irrespective of its content, quality, form, mode and language and irrespective of whether or not such work has been published or registered. For instance, a musician is about to write a song, however, the idea of the song still bears in mind of the musician and have not written down yet. At that time, copyright of the musician still does not generate.

Secondly, related rights shall arise at the moment a performance, audio and visual fixation, broadcast or satellite signal carrying coded programmes is fixed or displayed without causing loss or damage to copyright. Related right is the right related to copyright. Proceeding to above example, when the musician has finished writing his song and is sung by the singer on stage, the right of the singer to sing the song of the musician is related right.

Thirdly, different grounds for the generation and establishment of industrial property right. As said above, industrial property rights include 7 subject matters: inventions, industrial designs, designs of semi-conducting closed circuits, trade secrets, marks, trade names and geographical indications. These subjects have different grounds for generating and establishing right:

-Industrial property rights to an invention, industrial design, layout design, mark or geographical indication shall be established on the basis of a decision of the competent State body to grant a protection title in accordance with the registration procedures;

-Industrial property rights to a trade name shall be established on the basis of lawful use thereof;

-Industrial property rights to a trade secret shall be established on the basis of lawful acquirement of the trade secret and maintaining confidentiality thereof.

Fourthly, rights to a plant variety shall be established on the basis of a decision of the competent State body to grant a plant variety protection title in accordance with the registration procedures

It is wise to consult the advice of a IP attorneys in Vietnam to help assist you with your patent. We are a legal marketplace with quality lawyers who are knowledgeable in various areas of the law—including patents.

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Can a company purchase intellectual property rights?

A company can “purchase intellectual property rights.” The way that the purchase takes place varies a little, but most commonly it will be in the form of a license.

Protect Intellectual Properties Rights in Vietnam

I’ll use your example of a Harry Potter video game to explain. First, the owner of a copyright (here, the author of Harry Potter) has the exclusive right to distribute her original work. Another right she owns as a part of her copyright is the exclusive right to produce derivative works. A derivative work is any work based off of the original copyrighted work. A videogame based on Harry Potter is a derivative work of the original Harry Potter books.

So, J.K. Rowling, Harry Potter’s author, is the only person in the world that can create derivative works based on Harry Potter. BUT, she can license that right to whomever she would like for a fee. This is why you see Harry Potter videogames being made and t-shirts being sold. A copyright owner can license her copyright to another — or, in other words, you can purchase the right to use a copyright from a copyright holder.

Other intellectual property rights like patents and trademarks have similar licensing schemes to allow the holder of the right to exploit his or her invention.

ANT Lawyers -  A Law firm in Vietnam is supported by a team of experienced patent, trademark, design attorneys with qualification and skills handling full range of legal services relating to intellectual property in Vietnam.  We have specialized in the preparation and registration of patents, trademarks and designs for our clients.

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Why is intellectual property protection important to a company?

Intellectual property protection is critical to fostering innovation. While it is difficult to determine the exact scope and extent of the problem, every indication is that copyright piracy, trademark counterfeiting, and patent infringement have become significant problems in the business community in general, including small businesses.

Protect Intellectual Properties Rights in Vietnam

Any individual or a company investing in R&D, reaping new results would want to protect their product and reimburse when granted a patent on it. A similar kind of protection is available when it comes to Trademarks and Copyrights. Any company would want to protect their Trademark from being used by a competitor. Copyright protection is best suited to protect an individual’s work, say a software program or a newly created font by a company. I’m sure no company would want to give away their credits and brilliance to their competitors.

Also, it would be good for a company to protect their IP as there are “eyes and ears” that would want to know the know-how of a product which a company produces. It could be categorized as Trade Secret but if their is already a surface protection for a company’s IP, even if a competitor tries to get hold of any information, the ball is pretty much in a company’s court. Hence, protection of Intellectual Property is extremely important to a company, especially for the start-ups.

ANT Lawyers -  A Law firm in Vietnam is supported by a team of experienced patent, trademark, design attorneys with qualification and skills handling full range of legal services relating to intellectual property in Vietnam.  We have specialized in the preparation and registration of patents, trademarks and designs for our clients.

We assist our clients in all steps of the prosecution phase of IP management.

Related post: How important is intellectual property protection for a starup?

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Is intellectual property really that important?

Intellectual property protection is extremely important. When it comes to protecting IP two areas of protection should be taken in account: 1) protecting your liability and 2) protecting your intellectual property (IP).

Liabilities like the terms and conditions prevent claims initiated by people who use your website. The other liability known as privacy policy is legally required for websites that collect user data. Protecting your IP requires confidentiality agreement. Every employee, developers and programmers should sign a non-disclosure agreement in order to avoid disclosure of trade secrets, in case they are involved in your website development. IP assignment agreement is also essential for the protection of IP when you hire people to work on your website.

Intellectual Properties Rights in Vietnam

Among the assets of IP protection a patent is the most expensive and complex form of protection. A patent helps to prevent others from exploiting the owner’s invention. It is a territorial right exclusively applicable in the area or geographical region where a patent has been granted. It is highly recommended that you consult a patent attorney if you’re going to head in this direction.

IP protection asset like a trademark is a sign that can distinguish a good or a service of an enterprise from the other. It is protected by IP rights registered with a national or regional office of emblem, in order to confer an exclusive right to use the registered logo.

Copyright is the legal term that describes the rights of the creators on their creative inventions that could be a design, a painting; literary work etc. in simple words copyright protects the work of a creator.

Source: Quora.com

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How Vietnam Regulations on Intellectual Property Change to Integrate into Global Economy?

The intellectual property system of Vietnam has not matched up with international practice.  To resolve the matters, Vietnam has been developing programs on development of intellectual property legal system to meet the intellectual property standards of the international treaties which Vietnam is a member to.

Protect Intellectual Properties Rights in Vietnam

Intellectual property rights have played an indispensable role in the process of forming a comprehensive economy and sustainable development. Certificates of intellectual property rights are the evidence of the success of each entrepreneur entering the world market. In the process of international economic integration, enterprises of Vietnam are forced to participate in international competitive environment with high intensity, strict requirements on enforcement of regulations on industrial property. This is also one of the requirement when entering bilateral trade agreements.

Infringement of intellectualproperty rights is not only common in Vietnam, but also happen in other countries around the world, including developed countries such as the US, Germany and France.… However, Vietnam’s weakness is not only the lack of awareness of intellectual property by the people, but also by regulators and the business community.

We need to recognize the fact that intellectual property rights in Vietnam are being increasingly violated. Counterfeit goods, counterfeit goods, pirated goods … are being sold in public. This risk will increase as Vietnam broaden our integration. Consumers’ awareness is also a concern. The cause of this phenomenon is that the price of counterfeit goods is only one-third to one-tenth of the price of genuine goods, so consumers know that fake goods, but still use because of being “cheap”.

The intellectual property of enterprises is valuable assets. When being focused and exploited optimally, this “intangible” asset will help businesses strengthen their strengths, enhance their position, reputation and competitiveness to increase sales and profits.

In the current trend of globalization, intellectual property is a powerful tool for the socio-economic development of nations. In practice, many companies and businesses around the world have been very successful and have become famous thanks to effective exploitation of intellectual property rights. For the enterprises of Vietnam, intellectual property rights also play an important role, especially in the process of international economic integration.

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Protecting Intellectual Property Rights Abroad for Vietnam Enterprises

The development of international supply chains has become a critical success factor for big companies, and should be seen as important key for products of developing countries to gain entry into high standard market such as USA, European Countries, and Japan. However, many Vietnam companies have experienced problems in shifting their supply chain abroad as well as managed their intellectual property such as geographical indication, trademarks.

On October 24^th, 2017, Vietnam Intellectual Property Association (VIPA) in cooperation with the World Intellectual Property Organization (WIPO), Vietnam Chamber of Commerce and Industry (VCCI), International Association for the Protection of Intellectual Property Rights (AIPPI) organized the seminar “Protecting intellectual property rights abroad for Vietnamese enterprises” to provide Vietnam companies value information for protecting their Intellectual Property right in the Fourth Industrial Revolution and global supply chain development.

All the experts have strongly recognized the important role of intellectual property protection abroad for Vietnamese enterprises and introduced:

-Introduction to the International World of Intellectual property

-Protecting a valuable asset- How to protect your Brand with Madrid

-Options to protect an invention: Patent Cooperation Treaty (PCT) and trade Secrets

-Introduction to the international design System- Hague

-Other WIPO services, Tools and Products

-About International Association for the Protection of Intellectual Property- AIPPI (Association Internationale pour la Protection de la Propriété Intellectuelle)

Vietnam is a member of the WIPO and is a signatory to the Paris Convention for the Protection of Industrial Property. It has acceded to the Patent Cooperation Treaty and the Madrid Agreement Concerning the International Registration of Marks, and in 2004 joined the Berne Convention. Therefore, the Vietnamese enterprises should file trademarks, patents or industrial designs by international systems for saving cost and managing the registration procedures effectively. However, it is suggested that the international Bureau of WIPO does not decide whether trademarks, patents or industrial designs are eligible for protection or not, and the final decisions must depend on Intellectual Property law of each country i.e. Vietnam. For differences of laws in every country and difficult techniques when preparing Intellectual Property application, applicants should find valuable assistant from Intellectual Property agent.

Our licensed agent of intellectual property practice at ANT Lawyers helps clients to protect, and profit from their intellectual assets in Vietnam.

ANT Lawyers is supported by a team of experienced patent, trademark, design attorneys with qualification and skills handling full range of legal services relating to intellectual property in Vietnam.  We have specialized in the preparation and registration of patents, trademarks and designs for our clients.

Tuan Nguyen and Thao Hoang @ ANT Lawyers

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