On 18/9, the National Assembly's Judiciary Committee conducted a preliminary review of the draft law amending and supplementing several articles of the Intellectual Property Law. The most notable addition is Article 8a on intellectual property-based finance, opening up the possibility of treating these rights as tradable assets.

The draft law stipulates that intellectual property rights not yet recorded in accounting books will be valued by the owners themselves. They will create an asset portfolio for management and use it as a basis for commercial transactions, capital contributions, and fundraising. The government will build a national database of legally traded intellectual property rights values and provide valuation guidelines for businesses and individuals.

Along with this, pilot policies will be implemented, such as allowing intellectual property rights as collateral for loans, raising capital through the stock market, and developing insurance products and new financial instruments.

The Ministry of Science and Technology believes that intellectual property is becoming a strategic tool for protecting, acquiring technology, and competing internationally. Global businesses consider patents a "soft weapon" to control the market, while investment in intangible assets increasingly surpasses tangible assets. In developed countries, intangible assets account for over 80% of value, and in the US, it's over 90% for S&P 500 companies.

Many countries have established models for exploiting intellectual property assets, turning intellectual property rights into money through valuation, transfer, licensing, and exchange trading. This trend is shifting business management from "rights management" to "asset management," while governments focus on supporting the valuation, use, and effective protection of intellectual property assets.

Deputy Minister of Science and Technology Hoang Minh emphasized that the draft law aims to develop the intellectual property market, meet commercial exploitation needs, contribute to improving productivity, quality, and prestige of national products, and enhance the economy's competitiveness.

The Judiciary Committee assessed this as an important step but also a complex issue. They stated the need to clarify the valuation mechanism, risk management, and ensure consistency with civil, financial, and banking laws. The reviewing agency requested the Drafting Committee to consider and complete the draft to ensure feasibility during implementation.

Working with the Intellectual Property Office in May, Minister of Science and Technology Nguyen Manh Hung said that for science, technology, and innovation to exist and develop, they must attract investment, and long-term motivation only comes when research results are commercialized. "Intellectual property turns research results into assets, and only when they become assets can they be valued, transferred, leased, or mortgaged for capital," he said, affirming that any country strong in science, technology, and innovation must also be strong in intellectual property.

The Minister also said that Vietnam needs to take advantage of global intelligence. Europe is strong in basic research, while many Asian countries, including Vietnam, have strengths in turning research into practical applications. "Without global intelligence, there will be no development for Vietnam, especially double-digit growth," he said, while requesting the Intellectual Property Office to boldly invest in modern tools, identifying areas that can create high-value assets to guide domestic businesses.

Plenary session of the Judiciary Committee. Photo: Xuan Hoa

Plenary session of the Judiciary Committee. Photo: Xuan Hoa

This draft law also amends and supplements 76 articles, repeals eight articles, and retains 18 chapters with 228 articles. Many new regulations have been introduced to keep pace with international trends. For instance, the definition of industrial design is not limited to physical products but also includes non-physical products in the digital environment.

The draft also adds provisions allowing the use of legally public data and texts for artificial intelligence training, provided that it does not infringe on the legitimate interests of the authors and owners.

Administrative procedures in the field of intellectual property are simplified, allowing the submission of applications for establishing industrial property rights both in paper and electronic form, moving towards full online management. Protection measures are also tightened, including regulations against monopoly abuse, while assigning more responsibilities to the Court and the Procuracy to coordinate with the Government in protecting intellectual property rights.

Another aspect is the consolidation of intermediary organizations, such as collective management organizations for copyright and related rights, or intellectual property representative service organizations. The draft sets stricter criteria for operating conditions to ensure transparency and better protect the interests of authors and owners.

According to the plan, the draft law will be submitted to the National Assembly for discussion and approval at the 10th session later this year.

Son Ha

Using public data to train artificial intelligence: