Intellectual property rights owners are increasingly feeling the pressure from the counterfeit goods that are invading the global market. Societies worldwide also suffer, as countless people are either slaves to these criminal black marketers or victims of their faulty products. The second part of this two-part feature takes a look at some of the economic and social problems posed by counterfeiting and other IP rights violations.
October 13, 2020
On August 26, 2020, the government of Vietnam issued Decree No. 98/2020/ND-CP on the penalties for administrative violations in commercial activities, production and trade of counterfeit and banned goods, and consumer rights protection (Decree 98). Decree 98 will come into effect on October 15, 2020, replacing Decree No. 185/2013/ND-CP as amended in 2015 and 2018 (Decree 185).The administrative penalties and remedial measures under Article 4 of Decree 98 are restructured and more well-organized than in Decree 185, with increased monetary fines for a number of violations.