In brief
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).
Key takeaways
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). Read more