Accordingly, an invention is a technical solution; in the form of a product or process that solves a defined problem by applying the laws of nature. Yet, the inventions could only stay out of damages if the owner apply for patent protection. So, what is the importance of patent protection in Vietnam? Let’s find out with LSX.
Legal ground
- 2005 Intellectual Property Law
Definition of inventions
Accordingly, an invention is a technical solution in the form of a product or process that solves a defined problem by applying the laws of nature. In fact, inventions are subject to industrial property rights; and the protection will apply in case the inventions fulfill the requirements of the IP Law.
The definition also applies to the case of foreign inventions. Because, in Vietnam, foreigners also have the right to register for a patent.
Conditions for patent protection
Hence the regulation in IP law, the protection for the inventions may stay in the form of a patent; in case they fulfill the following conditions:
- Having novelty
- Having a creative level
- Capable of industrial application
On the other hand, the protection for inventions may stay in the form of a utility solution patent; in case it is not common knowledge and meets the following conditions:
- Having novelty
- Capable of industrial application
Benefits of patent protection
Firstly, the holders of the patent will have the right to prohibit others from using their invention for any commercial purposes; therefore, reducing competition, affirming a better position for the holder.
Secondly, the holders, in this case, will have the right to sell their inventions to another business. With this privilege, the holder may save money on an investment in commercializing inventions into products; avoiding the risks of competing in the market.
Thirdly, having a patent could avoid counterfeiting or imitating technology. Moreover, this creates favorable conditions for the stable use of inventions and proving the position and position of the business in the market.
Above is the importance of patent protection in Vietnam. In case you have any questions, please contact Lawyer X for quick and best legal services: 0833102102.
Hence the regulation of law, the termination of patent protection will include the following cases:
– The owner of the patent does not pay the validity or extension fee
– Patent holders declare the abandonment of industrial property rights.
– Accordingly, The Department of Intellectual Property will decide to terminate the protection of patent from the date of receipt of the declaration of termination request from the applicant
– The owner of the patent no longer exists or no longer operates a business without a legal successor
A patent is a document issued by a competent state agency to an organization or individual in order to establish industrial property rights for inventions.
The time from the filing date to the date of receiving a reply agreeing to grant a patent is 31 months.
Conclusion: So the above is The importance of patent protection under Vietnamese Law. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
