The Securities and Exchange Commission of Thailand (SEC) will refresh its definitions of institutional, high-net-worth (HNW), and ultra-high-net-worth (UHNW) investors according to its recently issued Notification No. Kor Jor 39/2564, effective on October 1, 2022. The key changes to these classifications are described below. Institutional Investors The SEC’s list of types of institutional investors will be expanded by the addition of the following four types: Venture capital. This refers to juristic persons established under Thai or foreign law for the purpose of investing in a startup, whereby the investors must not be retail investors. Private equity. This describes businesses established under Thai or foreign law for the purpose of investment by three or more nonretail investors who have appointed a person to manage the investment funds and accrued assets. The business must also have a policy to invest in other enterprises through arrangements that involve either stock investment agreements or other financial support giving rise to the right to acquire stock in the enterprise in the future. Under such arrangements, the private equity investor must demonstrate involvement in the enterprise’s business management (e.g., through planning, developmental, or other operational control). Sophisticated/professional investors. This type of investor includes (1) fund managers or derivatives fund managers in accordance with the Capital Market Supervisory Board’s rules on capital market business personnel; (2) investment analysts authorized by the SEC; and (3) angel investors, defined as experienced and knowledgeable SEC-approved financial advisors or crowdfunding portal providers, or other individual or juristic investors, with net assets of at least THB 50 million, annual revenue of at least THB 4 million, or gross direct investment in securities and derivatives of at least THB 10 million (or THB 20 million if cash deposits are aggregated). Investments by angel investors are limited to securities offered by SMEs or startups, or securities offered through

On March 7, 2022, the government of Vietnam issued Resolution No. 27/NQ-CP (“Resolution 27”) approving the promulgation of the latest version of the Draft Decree on Personal Data Protection (“Draft PDPD”) prepared by the Ministry of Public Security (“MPS”), and further instructed the MPS to pass this draft to the National Assembly’s Standing Committee for final consideration. Although the full content of the approved Draft PDPD has not been made available to the public, Resolution 27 clearly sets out several circumstances approved by the government in which processing of personal data can be carried out without the consent of the data subjects. In comparison with the corresponding provision under the widely seen version of the Draft PDPD made available to the public in February 2021 (“February Draft”), the main differences are as follows: If the data processing is necessary in response to an emergency situation that threatens the life, health, or safety of the data subject or other individual, the data controller, data processor, data controller/processor, or a third party can process the personal data without consent of the data subject, but they are responsible for proving that the situation is an emergency. The February Draft did not mention any requirement of proof. Moreover, “safety of the data subject or other individual” is a newly added criterion for personal data processing without consent under this circumstance. If the data processing is necessary because of national defense and security requirements, the processing must be carried out by competent authorities in accordance with other laws. The requirement that the processing must be carried out “by competent authorities” in this circumstance was not provided under the February Draft. Two circumstances have been removed: the processing of personal data in compliance with specific provisions that explicitly allow the processing of personal data without the data subject’s consent

On February 15, 2022, Thailand’s cabinet approved in principle a package of incentives to promote electric vehicle (EV) adoption in Thailand, with the aim of making the country an EV manufacturing hub in Asia. A week later, the cabinet approved further draft regulations including specific information on customs duty reductions and exemptions for certain types of imported EVs. The plan includes both tax and non-tax incentives from 2022 until 2025. In the first two years (2022–2023), the package incentivizes the widespread use of EVs in Thailand by providing exemption or reduction of import duties and excise tax, as well as subsidies to increase the demand for EVs and attract investment in the EV industry. These incentives will cover the importation of completely built up (CBU) cars and motorcycles, and the local manufacturing of completely knocked down (CKD) vehicles in Thailand. For the following two years (2024–2025), the plan promotes the use of domestically produced EVs by eliminating the exemption or reduction of import duties for CBU vehicles while maintaining the other incentives (e.g., reduced excise tax rates, and subsidies). The aim of this is to make the cost of CBU vehicles higher than locally produced vehicles to encourage operators to produce EVs in the country to meet increasing demand. Additional measures encourage the manufacturing of EVs in Thailand, including exemption of import duties for parts imported between 2022 and 2025, and treatment of the value of imported battery cells as a cost of local manufacturing (up to 15% of an EV’s retail price). This is beneficial to local manufacturers of EVs, as their activities will be entitled to a more generous incentive package than importation of EVs. At their meeting on February 22, 2022, Thailand’s cabinet further approved draft subordinate regulations, including specific reductions and exemptions of customs duty for CBU units of

Attorneys from Tilleke & Gibbins’ intellectual property group in Bangkok have contributed the Thailand chapter to the recently published second edition of International Copyright Law: A Practical Global Guide. The updated edition of the book, which was first published in 2013, contains in-depth chapters on the legal framework for copyright from specialists in over 30 jurisdictions worldwide. The Thailand chapter was written by Ploynapa Julagasigorn, senior associate; Darani Vachanavuttivong, managing partner and managing director of the firm’s intellectual property group; and Suebsiri Taweepon, partner. The chapter outlines the types of work that can be protected, formalities for and duration of protection, rules relating to the ownership of copyright works, and infringement. The topics are as follows: Copyright treaties and conventions: Berne Convention and TRIPS Agreement. What can be protected: Work definition, criteria, and specific works. Formalities for protection: Thailand’s Department of Intellectual Property. Duration of protection: Literary, dramatic, musical, artistic, photographic, and audiovisual works; audio and video broadcasts; sound recordings; cinematographic work; applied art; and computer programs. Ownership of works: Initial ownership, commissioned works and works made in the course of employment, and assignment and licensing. Infringement: Primary and secondary infringement. Rights: Moral and performers’ rights. Defenses: Fair dealing/use, private use, internet safe harbors, temporary copying, and other key defenses. Enforcement of foreign copyright: Application of Copyright Act to works by foreign creators, judicial procedures, and penalties. International Copyright Law: A Practical Guide helps counsel and other professionals at multinational companies understand the varying copyright laws and practices in jurisdictions around the world, and is a resource for private-practice lawyers doing copyright-related intellectual property work. For more details, and to order the guide, please see the Globe Law and Business website. An excerpt from the Thailand chapter is available as a PDF through the button below.

Attorneys from Tilleke & Gibbins’ offices in Vietnam have contributed the Vietnam chapter to Pharmaceutical Advertising 2022 from Chambers & Partners. Pharmaceutical Advertising 2022—the fifth annual edition of this practice guide—provides information on pharmaceutical advertising regulations in 18 jurisdictions around the world. The guidance is especially useful for pharmaceutical manufacturers looking to share their products and innovations with the public in a responsible, transparent way that is compliant with local laws. The Vietnam chapter specifically the following topics: Regulatory Framework for pharmaceutical advertising Scope of advertising and general principles Advertising of unauthorized medicines or unauthorized indications Advertising pharmaceuticals to the general public Advertising to healthcare professionals Vetting requirements and internal verification compliance Advertising of medicinal products on the internet Inducement and antibribery Gifts, hospitality, congresses and related payments Transparency considerations for pharmaceutical companies Enforcement of pharmaceutical advertising rules Tilleke & Gibbins also provided the Thailand chapter to this guide. Chambers & Partners’ Global Practice Guides provide in-house counsel with expert legal commentary focusing on practical legal issues affecting business, and enable readers to compare legislation and relevant procedures across a range of key jurisdictions. The full Pharmaceutical Advertising 2022 guide—including the Vietnam chapter—is available for free on the Chambers and Partners website. The Vietnam chapter is also available as a PDF through the button below.

Attorneys from Tilleke & Gibbins’ Bangkok office have authored the Thailand chapter in Pharmaceutical Advertising 2022 from Chambers & Partners. Pharmaceutical Advertising 2022—the fifth annual edition of this practice guide—provides information on pharmaceutical advertising regulations in 18 jurisdictions around the world. The guidance is especially useful for pharmaceutical manufacturers looking to share their products and innovations with the public in a responsible, transparent way that is compliant with local laws. The Thailand chapter covers the following topics: Regulatory Framework for pharmaceutical advertising Scope of advertising and general principles Advertising of unauthorized medicines or unauthorized indications Advertising pharmaceuticals to the general public Advertising to healthcare professionals Vetting requirements and internal verification compliance Advertising of medicinal products on the internet Inducement and antibribery Gifts, hospitality, congresses and related payments Transparency considerations for pharmaceutical companies Enforcement of pharmaceutical advertising rules Chambers & Partners’ Global Practice Guides provide in-house counsel with expert legal commentary focusing on practical legal issues affecting business, and enable readers to compare legislation and relevant procedures across a range of key jurisdictions. Tilleke & Gibbins also contributed the Vietnam chapter to the guide. The full Pharmaceutical Advertising 2022 guide—including the Thailand chapter—is available for free on the Chambers and Partners website. The Thailand chapter is also available as a PDF through the button below.

Attorneys from Tilleke & Gibbins wrote the Thailand chapter for Licensing 2022, a comprehensive guide from Lexology Getting the Deal Through to licensing in 17 countries around the world. Two specialists from Tilleke & Gibbins’ Bangkok office—Alan Adcock, partner and deputy director of intellectual property, and Kasama Sriwatanakul, senior associate—authored the Licensing 2021 Thailand chapter, which covers the following topics: Laws: Unfair Contract Terms Act, Trade Competition Act, pre-contractual disclosure, registration of international licensing, implied obligations, Civil and Commercial Code, Trademark Act, Patent Act, and Trade Secrets Act. Intellectual property issues: Paris Convention for the Protection of Industrial Property, PCT, TRIPs. Contesting the validity of licensor’s IP rights, invalidity and expiry of IP rights, evidence of use, licensing unregistered IP, opposability requirements, sub-licensing, co-owners, trade secrets, and copyright. Software licensing: Perpetual licensing, import/export restrictions, improvements and modifications, user restrictions, and legal developments. Competition law: Trade Competition Act, specific restrictions on licensing agreements, and significant court decisions. Indemnification, disclaimers, and damages: Prevalence and enforceability of indemnity provisions and contractual waivers of damages. Termination: Conditions, indemnity, agency, and impact on sub-licenses. Bankruptcy: Impact of licensee bankruptcy on licensor and vice versa, protection, and rights to terminate. Dispute resolution: Governing law, arbitration, enforcement, injunctions, contractual waivers Royalties and payments: Currency conversion, tax, remittance restrictions, and jurisdiction-specific payments. The Thailand chapter is available below as a PDF. Tilleke & Gibbins also contributed the Vietnam chapter to Licensing 2022. To browse all 17 jurisdictions covered by the guide, please visit the Getting the Deal Through website.

Attorneys from Tilleke & Gibbins have written the Vietnam chapter for Licensing 2022, a comparative guide from Lexology Getting the Deal Through to licensing law and practice in 17 countries around the world. Licensing 2022, a guide that provides an overview of a wide range of licensing relationships, including licensing of copyrights, trademarks, and patents; software licenses; technology transfer agreements; and franchise agreements. The book also addresses issues of royalties and other payments, taxes, competition law, and termination of licensing relationships. The Vietnam chapter was authored by Linh Thi Mai Nguyen, partner and head of Tilleke & Gibbins’ trademark team in Vietnam; Son Thai Hoang, trademark executive; and Chi Lan Dang, associate, of Tilleke & Gibbins’ trademark team, along with corporate and commercial senior associate Tu Ngoc Trinh, who has extensive experience in franchising and competition law. The Vietnam chapter is available below as a PDF. Tilleke & Gibbins also contributed the Thailand chapter to Licensing 2022. To browse all 17 jurisdictions covered by the guide, please visit the Getting the Deal Through website.