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 themself, 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.
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