The effective protection of intellectual property (IP) rights would encourage innovation, healthy competition and development in Vietnam, experts said at a two-day seminar entitled Intellectual Property Rights and Vietnam’s Deep Integration into the World Economy, which closed in Hanoi on May 12.
The seminar heard that trademark protection also helped increase businesses’ profits and that IP protection could generate jobs, raise incomes and contribute to a country’s development.
Vietnamese companies have not fully acknowledged the importance of establishing a trademark to building a brand name, said Ho Thuy Ngoc, deputy head of Hanoi Foreign Trade University’s International Education Faculty.
At the seminar, experts suggested the Vietnamese Government help firms in looking to do business abroad with IP rights protection.
Businesses should give priority to IP rights protection and the Government should adopt policies to promote innovation, said Jennie Ness, regional IP attaché at the US Department of Commerce.-