What are the benefits of intellectual property protection for a company?

Intellectual property includes a Trademark, Copyright, and Patent. It is important for a business as it shields them from rivals so that their idea or invention does not get copied.

Protect Intellectual Properties Rights in Vietnam

Intellectual property, like any other company asset, is part of a mix or resources that a company will use to create products and grow market share. IP is valued (in an accounting sense), sold, created or purchased based on a company’s strategy or business model - just like normal assets.

Some companies are very IP focused (software, pharma) and some not so much. Companies with a lot of licensing activities (think films & toys) are also very IP focused even though you may not immediately think so. IP is a means to differentiate your business (trademarks) or, if you have the financial resources, blocking competitors (patents). Again, this all boils down to how you want to use your company’s resources.

Along with this, there are other benefits that prove that intellectual property protection is important for a company. They are:

-Ability to have competitive advantages over small businesses.

-Enhances company value and goodwill.

-It helps to market your products and services.

-It provides export opportunities.

-You can easily acquire financial support for business.

Hope this helps…

Source: Quora

If you are interested in finding IP services in Vietnam, let ANT Lawyers helps. We can connect you with a skilled lawyer that is much more affordable than a traditional law firm attorney. Check us out and please get in touch if you’d like more assistance.

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Subject Matters of Intellectual Property Rights

Intellectual property subject matter is divided into three groups included: subject matter of copyright, subject matter of industrial property rights, subject matter of rights to plant varieties. In details:

Protect Intellectual Properties Rights in Vietnam

-The subject matter of copyright shall comprise literary, artistic and scientific works; the subject matter of copyright related rights shall comprise performances, audio and visual fixation, broadcasts and satellite signals carrying coded programmes.

-The subject matter of industrial property rights shall comprise inventions, industrial designs, designs of semi-conducting closed circuits, trade secrets, marks, trade names and geographical indications.

-The subject matter of rights to plant varieties shall comprise plant varieties and harvested materials.

Pursuant to Intellectual Property right 2005 (amended in 2009), Intellectual property rights means rights of an organization or individual to intellectual assets comprising copyright and copyright related rights, industrial property rights and rights to plant varieties. For example, software computer program can be protected under Copyright, or name of a product can be protected under Industrial property right that is Trademark or the outward appearance of a car can be protected as Industrial design.

However, intellectual property rights are generated and established based on certain grounds:

Firstly, copyright shall arise at the moment a work is created and fixed in a certain material form, irrespective of its content, quality, form, mode and language and irrespective of whether or not such work has been published or registered. For instance, a musician is about to write a song, however, the idea of the song still bears in mind of the musician and have not written down yet. At that time, copyright of the musician still does not generate.

Secondly, related rights shall arise at the moment a performance, audio and visual fixation, broadcast or satellite signal carrying coded programmes is fixed or displayed without causing loss or damage to copyright. Related right is the right related to copyright. Proceeding to above example, when the musician has finished writing his song and is sung by the singer on stage, the right of the singer to sing the song of the musician is related right.

Thirdly, different grounds for the generation and establishment of industrial property right. As said above, industrial property rights include 7 subject matters: inventions, industrial designs, designs of semi-conducting closed circuits, trade secrets, marks, trade names and geographical indications. These subjects have different grounds for generating and establishing right:

-Industrial property rights to an invention, industrial design, layout design, mark or geographical indication shall be established on the basis of a decision of the competent State body to grant a protection title in accordance with the registration procedures;

-Industrial property rights to a trade name shall be established on the basis of lawful use thereof;

-Industrial property rights to a trade secret shall be established on the basis of lawful acquirement of the trade secret and maintaining confidentiality thereof.

Fourthly, rights to a plant variety shall be established on the basis of a decision of the competent State body to grant a plant variety protection title in accordance with the registration procedures

It is wise to consult the advice of a IP attorneys in Vietnam to help assist you with your patent. We are a legal marketplace with quality lawyers who are knowledgeable in various areas of the law—including patents.

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Why is intellectual property protection important to a company?

Intellectual property protection is critical to fostering innovation. While it is difficult to determine the exact scope and extent of the problem, every indication is that copyright piracy, trademark counterfeiting, and patent infringement have become significant problems in the business community in general, including small businesses.

Protect Intellectual Properties Rights in Vietnam

Any individual or a company investing in R&D, reaping new results would want to protect their product and reimburse when granted a patent on it. A similar kind of protection is available when it comes to Trademarks and Copyrights. Any company would want to protect their Trademark from being used by a competitor. Copyright protection is best suited to protect an individual’s work, say a software program or a newly created font by a company. I’m sure no company would want to give away their credits and brilliance to their competitors.

Also, it would be good for a company to protect their IP as there are “eyes and ears” that would want to know the know-how of a product which a company produces. It could be categorized as Trade Secret but if their is already a surface protection for a company’s IP, even if a competitor tries to get hold of any information, the ball is pretty much in a company’s court. Hence, protection of Intellectual Property is extremely important to a company, especially for the start-ups.

ANT Lawyers -  A Law firm in Vietnam is supported by a team of experienced patent, trademark, design attorneys with qualification and skills handling full range of legal services relating to intellectual property in Vietnam.  We have specialized in the preparation and registration of patents, trademarks and designs for our clients.

We assist our clients in all steps of the prosecution phase of IP management.

Related post: How important is intellectual property protection for a starup?

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Is intellectual property really that important?

Intellectual property protection is extremely important. When it comes to protecting IP two areas of protection should be taken in account: 1) protecting your liability and 2) protecting your intellectual property (IP).

Liabilities like the terms and conditions prevent claims initiated by people who use your website. The other liability known as privacy policy is legally required for websites that collect user data. Protecting your IP requires confidentiality agreement. Every employee, developers and programmers should sign a non-disclosure agreement in order to avoid disclosure of trade secrets, in case they are involved in your website development. IP assignment agreement is also essential for the protection of IP when you hire people to work on your website.

Intellectual Properties Rights in Vietnam

Among the assets of IP protection a patent is the most expensive and complex form of protection. A patent helps to prevent others from exploiting the owner’s invention. It is a territorial right exclusively applicable in the area or geographical region where a patent has been granted. It is highly recommended that you consult a patent attorney if you’re going to head in this direction.

IP protection asset like a trademark is a sign that can distinguish a good or a service of an enterprise from the other. It is protected by IP rights registered with a national or regional office of emblem, in order to confer an exclusive right to use the registered logo.

Copyright is the legal term that describes the rights of the creators on their creative inventions that could be a design, a painting; literary work etc. in simple words copyright protects the work of a creator.

Source: Quora.com

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