On November 14th and 15th, 2017, European Chamber of Commerce in Vietnam held a seminar for representatives from businesses and law firms “IP considerations in Technology Transfer to Vietnam and South-East Asia”.
The seminar provides some sound advice relating to IP Considerations & Practical Tips for Successful Technology Transfer in Vietnam. Further, audience could learn some ways to minimize risk of IP issues associated with Technology Transfer in South-East Asia.
According to Law on Technology Transfer 2017, which shall take effect as of July 01st, 2018, Vietnam government ensures rights as well as legal interests and facilitates both organizations and individuals in carrying out technology transfer to Vietnam. However, to take advantage of such policy when contemplating transferring technology to Vietnam, you should Evaluate IP Value & Risk of IP infringements through the following tips:
- Check availability of use or protection status of IP objects
- Perform IP clearance search and market research
- Check and maintain validity of IPRs
- Use local IP agents as watchdogs of your IPRs (advice/strategy)
- Use NDA (Non-Disclosure Agreement)
- Check registration of IP objects with cautious consideration in the consistence of all material (contract and records by local authorities- NOIP)
- Sign Transferring technology contract or Assignment of IPRs/ License of IPRs separately toward each IP objects
Besides, there are some contractual issues to pay attention to such as:
- What are conditions of use?
- Structure of fees for License,
- How to terminate?
- What happens with the goods/ materials/ equipment after termination?
- How to avoid risk of technology usage after termination.
Multinational and global companies are always facing with challenges in devising creative solutions to minimize the risks to their IPRs associated with technology transfers. Careful evaluation and due diligence at the first stage of the transferring technology project help companies prevent unwilling suffer and unfair competition.
ANT Lawyers Co., Ltd is a law firm with IP agent certificate issued by National Office of Intellectual Property. We are also member of legal committee of EuroCham which help contribute legal opinions to promote the development of investment environment in Vietnam.
Tuan Nguyen and Thao Hoang @ ANT Lawyers