The Benefit from Protecting Invention Patent
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.
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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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