Along with the activity of establishing rights, licensing/transferring intellectual property rights is one of the rights associated with business activities. Currently, the transfer of intellectual property rights is becoming more and more popular due to the economic benefits it brings, promoting competition and developing human creativity. However, not all intellectual property rights can be licensed/transferred. Below, Viet An Law will provide basic legal issues on licensing v. assignment of intellectual property in Vietnam.
Table of contents
According to the Law on Intellectual Property of Vietnam 2005, as amended and supplemented in 2009, 2019, and 2022, the assignment of intellectual property rights is the act of the intellectual property owner assigning his/her ownership to another organization or individual.
Transferring of intellectual property rights (also known as licensing) is when the owner of intellectual property rights allows another organization or individual to use the intellectual property within the scope of his or her rights to use.
Intellectual property rights include rights to inventions, industrial designs, semiconductor integrated circuit layout designs, trademarks, trade names, geographical indications, trade secrets created or owned by oneself, and rights against unfair competition.
Notes:
Criteria | Assignment of intellectual property | Licensing (transferring) intellectual property |
Subject | The transferor is the owner of the intellectual property object. | The transferor may be the owner or the transferee authorized by the owner of the intellectual property. |
Object | Ownership | Right of Use |
Nature | The assignor will terminate ownership of the intellectual property and establish ownership for the assignee. | · The transferor retains ownership of the intellectual property.
· The transferee does not own the intellectual property and is only allowed to use it within the scope permitted by the intellectual property owner. |
Contract type | · The assignment must be made in the form of a written contract (assignment contract).
· There is only one type of intellectual property assignment contract. |
· Licensing of intellectual property rights must be carried out in the form of a written contract (intellectual property licensing contract).
· There are 3 types of contracts: Exclusive, non-exclusive, and secondary contracts. |
Contract content | · Full names and addresses of the transferor and transferee;
· Basis of assignment; · Assign price; · Rights and obligations of the transferor and transferee |
· Full name and address of the transferor and transferee;
· Basis for transfer of right of use; · Contract type; · Scope of transfer, including limitation of right of use, territorial limitation; · Contract term; · Price of transfer of right of use; · Rights and obligations of the transferor and the transferee. |
Depending on each industrial property object, the dossier and procedures will be regulated differently. Please refer to the articles on the website vietanlaw.com for more details or contact Viet An Law, hotline (+84) 977 520 979 (WhatsApp, Viber, Zalo) to receive the fastest advice from our intellectual property experts.
Not all intellectual property can be licensed/assigned, there are limited cases where licensing/assigning of intellectual property rights is not allowed. Specifically
If your business has difficulty in licensing v. assignment intellectual property in Vietnam, please contact Viet An Law for the fastest and most accurate support!
Updated: 9/2024
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