Invention protection shall bring advantages for the owner of invention including the usage and application within the duration of 20 years. As Law on intellectual property of Vietnam, an invention patent shall be valid from the grant date until the end of twenty (20) years after the filing date.
Besides, Invention patent can bring its owner the followings:
The steady position on the market: with the invention patent, the owner of the invention shall have rights to prevent others from using their invention with commercial purpose. This will reduce the competitive capacity of competitors and bring preferred position for the owner.
Right to sell and license the invention: in case owners of inventions cannot use their invention by themselves, they can sell or license the use of their inventions to other people or companies. They can license only the right of use and sell all of their inventions. This does not only bring them a lot benefits but also avoid risks because of the competition on the market.
When your inventions have been commercialized and got the significant position on the market, other companies or people might tend to copy and use your invention illegally or sell other products which are similar to yours. If your inventions were not properly registered at competent authority, the competitors and violators can use your inventions without breaching of law.
Therefore, it is essential to register a new invention to protect the owner’s rights to avoid unfair competition on the market.
If you are looking for experienced IP services in Vietnam to help you with your IP application, you should visit ANTLawyers. Our attorneys have experience with the IP process and will work closely with you as you apply for your IP.
Source ANTLawyers: https://antlawyers.vn/library/intellectual-property-law/the-benefit-from-protecting-invention-patent.html
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