Considering the attractive investment market of Vietnam, entrepreneurs should first of all seriously consider the issue of intellectual property rights protection, as cases of IP infringement in Vietnam are not uncommon.
If you intend to register a TM in Vietnam, you may find this material useful.
Infringement of well-known brands
Incidents of infringement of intellectual property rights, including infringement of well-known trademarks, are difficult to track. This harms businesses in the first place, as often they suffer a loss of public image when their cases hit the news. Consumers suffer as well, as they are cheated, and they receive not original, but counterfeit and often low-quality goods.
Statistical data shows that the number of IP infringements in Vietnam has grown significantly in recent years. The rights of well-known brands are being violated in various areas, and counterfeit products are publicly sold on the markets with complete impunity and their cost is very low.
Using the reputation of famous brands is an easy way to make a profit, which is why scammers often try to manufacture counterfeit products in Vietnam or import from China.
Therefore, the first step to take is registering a trademark in Vietnam. It will open up opportunities for local and foreign companies to protect against imitation or copying of branded products and unfairly benefit from your trademark.
How Vietnam is fighting counterfeit
At the moment, detecting the violation and ensuring effective trademark regulation in Vietnam is still quite a difficult task and the authorities do not always cope with this problem.
In accordance with the rules in force in this jurisdiction, all who deal with products that infringe on trademark rights (manufacturers, importers, traders) can be fined up to $ 24,000, and the violators can go to jail. However, as practice shows, these measures are not strict enough, since violations of the rights of registered Vietnamese trademarks remain widespread.
Recently, Vietnamese authorities have implemented an automated customs control system (VNACCS) for imports which can detect counterfeit products if they are identical or similar to a registered trademark in Vietnam.
Legal assistance
Although the protection of intellectual property rights in Vietnam has undergone significant advances, the authorities still find it difficult to identify and remedy violations. Therefore, one should be particularly cautious when doing business in Vietnam.
Vietnam is an official member of the Madrid Protocol and the Paris Convention, securing equal rights for the registration of trademarks by foreign persons, even if the trademark has been registered internationally.
The only additional requirement of the National Office of Intellectual Property when registering a TM by a foreigner is the mandatory involvement of solicitors in the registration procedure.
Therefore, if you intend to register a TM in Vietnam, our qualified legal advisors are at your service. Also, if you are faced with a situation where you need to resolve a dispute regarding TM rights in Asia, we suggest that you sign up for a consultation on trademark regulation in Vietnam with our specialists.
