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Establishing intellectual property rights in start-ups

In Vietnam today, start-ups are growing strongly. However, there is a common fact that startup groups only focus on forming businesses, calling for investment capital, but have not thought about registering for intellectual property (IP) protection or are afraid to register because many reasons.


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The registration of IP rights is an indispensable requirement of startups for integration

Intellectual property is vital to business

According to experts and managers, when starting a business, young people must be prepared, especially in the era of globalization, young people need to understand the rules of the game and international regulations so as not to violate them, in which it is necessary to conduct in-depth research on IP and quickly register for protection and establish rights to their innovative researches.

Mr. Dang Quoc Nghi, Vice Chairman of Dong Nai Young Entrepreneurs Association, said that in fact, businesses in general and start-up businesses in particular are only interested in product development, calling for investment capital, setting up investment capital, and setting up strategy for marketing and sales plans and forgetting about IP issues, protecting ideas, protecting brands.

Thus, the value of IP rights is often not fully appreciated and the potential of IP rights is not properly recognized by enterprises. The reason given by Mr. Nghi is that enterprises are not fully equipped with knowledge, do not understand IP objects well, have not paid attention to relevant information of IP activities, have not experienced related legal issues due to small scale and operating model. Another barrier in the implementation of IP in small and medium enterprises is the problem of information access and cost.

Mr. Nghi said that for business owners, IP is not only an asset but also the survival topic in the context of integration and increasingly fierce competition today. The integration process is going strongly, the application of IP tools to production and business activities, startups is very important, it is necessary to promote information and continue to have policies, measures to improve efficiency in the protection and exploitation of IP rights. This will improve the competitiveness of enterprises in domestic and international markets, contribute to creating a fair and healthy competitive environment, and improve the position of enterprises.

Support startups to protect intellectual property rights

According to Mr. Pham Hong Quat, Director of the Department of Market Development and Science and Technology Enterprises, Ministry of Science and Technology, IP rights or intellectual property are always the core foundation of innovative start-up projects or calling for venture capital or international capital. Therefore, consulting services for young people to register for protection, establish rights, exploit and contribute capital with intellectual property are very important. Through many national TechFest shows, almost projects without IP protection are less attractive to investors. Therefore, the innovation startup ecosystem needs advice, support and help from departments, agencies, organizations and experts on IP issues, thereby helping young people to gain the knowledge and implementation of IP protection of products and innovations created by them not only in Vietnam but also in the international market"- Mr. Quat emphasized.

Mr. Huynh Minh Hau, Deputy Director of the Department of Science and Technology of Dong Nai Province informed that, in addition to building a database to protect trademarks, patents, and industrial designs; digitizing and granting copyright for authors and projects, Dong Nai is building a traceability system to protect IP rights. At the same time, build a common startup space to incubate innovative startup ideas and support the establishment of IP rights for unique products.

                                                                                                       Vi Quan

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