The National Assembly of Vietnam adopted a new Law on Pharmacy on June 4, 2016. The new law will take effect on January 1, 2017, replacing the current version which was passed in 2005. In an effort to update certain aspects of Vietnam’s legal framework to be more in line with international practices, the new pharmaceutical law is expected to provide quicker access to drugs for patients, increased consumer protection, and more incentives for local manufacturing of drugs.Removing the Five-Year Rule for Clinical Trials

One of the main rules of trademark registration in Thailand is that a trademark must not be identical or similar to a prior-registered mark. This is not, however, an absolute rule—exceptions exist in cases where the use of trademarks that are similar to marks owned by different proprietors does not cause public confusion, or cases where the owner of a prior-registered mark has given written consent to the owner of a later-filed, confusingly similar mark.

The conventional practice to commercialize intellectual property (IP) is to directly exploit or license IP assets. A trend is emerging, however, to commercialize IP through securitization. This trend coincides with the advent of the Secured Transaction Act B.E. 2558 (2015), which allows IP assets to be used as collateral.

Thailand 4.0 is the next step in Thailand’s evolution, according to Prime Minister Prayuth Chan-o-cha. Thailand 4.0, an economic model that aims to develop Thailand into a valued-based economy, would bring about a number of changes.

On June 20, 2016, Thosapone Dansuputra, the Deputy Director-General of Thailand’s Department of Intellectual Property (DIP), made a speech on the DIP’s roadmap for IP reform in Thailand. During his speech, Mr. Dansuputra mentioned five core strategies that the Thai government would follow in order to enhance IP protection in the country. The strategies relate to the creation, commercialization, and protection of IP; the prevention and suppression of IP rights violations; and the protection of geographical indications.

The 2016 update of Global Patent Litigation  provides a comprehensive overview of patent law and litigation in six jurisdictions. It covers how a patentee can enforce a patent and what pitfalls and remedies exist to make informed decisions when litigating.

The Thai government recently promulgated new regulations for financial institutions on accepting deposits or receiving money from the public. The regulations aim to enhance the security and stability of these processes, and therefore improve the credibility of commercial banking business.Under Bank of Thailand Notification SorNorSor 7/2559, financial institutions must set up mechanisms to ensure effective and accurate identification and verification of their customers, commonly referred to as “Know Your Customer” (KYC).

A number of well-known companies have recently recalled their products from the market to fix problems or defects. Whenever a recall occurs, business suffers. First, there is the cost of implementing the recall. Second, the company’s reputation is damaged. Both of these factors result in a decreased volume of product sales.