With 476 out of 477 delegates voting 'Yes,' the National Assembly of Vietnam officially approved the Intellectual Property (Amendment) Bill to revise and supplement the 2005 Law on Intellectual Property ("Amended IP Law"). The Bill was introduced for debates and public consultation in 2021, after 16 years of implementation of the existing 2005 Law on Intellectual Property, which was amended twice in 2009 and 2019. This follows the recent signing of the world's largest trading bloc Regional Comprehensive Economic Partnership (RCEP), the European Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The Amended IP Law will come into effect on 1 January 2023, with exceptions saved for sound mark protection (14 January 2022) and protection of test data for agrochemicals (14 January 2024).
The Amended IP Law introduces comprehensive revisions and/or supplementation of 102 articles (among which, 14 articles are only revised as to technicalities), and repeals a number of provisions in six articles. The Amended IP Law also amends a number of relevant articles of the Law on Prices, the Law on Customs, the Law on Science and Technology, and the Law on Management and Use of Public Property.
The amendments cover the following key areas:
We address in more detail each of the above points in the following alert.
Click here to access full alert.
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