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.
July 10, 2020
The EU-Vietnam Free Trade Agreement (EVFTA) was ratified by Vietnam’s National Assembly on June 8, 2020, under Resolution No. 102/2020/QH14 (Resolution 102), and will take effect on August 1, 2020. Among the IP provisions in the EVFTA (Chapter 12), some will be applied directly upon the effective date of the agreement, without any changes to the current domestic laws and regulations, while others will be applied via the amendment of the IP Law. Until the amended IP Law is issued (which is expected to occur in 2021), temporary provisions from the EVFTA will be directly applied.