Start-ups must pay more attention to intellectual property (Photo: thinkbusiness.ie) Hanoi (VNS/VNA) - Vietnamesestart-ups are still not paying adequate attention to registering intellectualproperty, although this type of intangible asset plays a significant role intheir future development.
Phan Ngan Son, Deputy Director of the NationalOffice of Intellectual Property of Vietnam (NOIP), said that entrepreneurshipwas developing rapidly but start-ups were currently focusing on raising funds,while little attention was being paid to registering their intellectualproperty.
Son said that intellectual property was ofsignificant importance to socio-economic development – a valuable intangibleasset to businesses, especially start-ups, which helps enhance competitivenessand create added value.
He cited statistics showing that several decadesago, most of the assets of US companies were tangible assets while intangibleassets accounted for just below 20 percent. In 2005, intangible assets of theS&P 500 firms accounted for 80 percent of their total market value and 87 percentin 2015.
It was necessary to enhance firms’ awareness ofintellectual property, Son said.
According to Tran Le Hong from NOIP, severalstart-up firms had not identified the right time for registration ofintellectual property, which might result in unexpected disputes.
Hong said that enhancing awareness ofintellectual property should start from universities, but few universities werecurrently providing training on the subject.
Deputy principal of theUniversity of Foreign Trade, Le Thi Thu Thuy, said that the Ministry of Scienceand Technology needed to enhance cooperation with the Ministry of Education andTraining to put intellectual property onto the syllabus.
The Ministry of Scienceand Technology was implementing an intellectual property development programmebetween 2016-2020, with a focus on providing support to start-ups andentrepreneurs.
The ministry’s reportshowed that there were around 3,000 start-ups in Vietanam, nearly doubling thefigure at the end of 2015.
Prime Minister Nguyen XuanPhuc previously affirmed that the Government was committed to protectingintellectual property rights, innovations and ideas because these were valuableintangible assets for start-ups.
The PM also urgedministries to provide support to start-ups and enhance their awareness ofintellectual property to promote their development.-VNS/VNA
Phan Ngan Son, Deputy Director of the NationalOffice of Intellectual Property of Vietnam (NOIP), said that entrepreneurshipwas developing rapidly but start-ups were currently focusing on raising funds,while little attention was being paid to registering their intellectualproperty.
Son said that intellectual property was ofsignificant importance to socio-economic development – a valuable intangibleasset to businesses, especially start-ups, which helps enhance competitivenessand create added value.
He cited statistics showing that several decadesago, most of the assets of US companies were tangible assets while intangibleassets accounted for just below 20 percent. In 2005, intangible assets of theS&P 500 firms accounted for 80 percent of their total market value and 87 percentin 2015.
It was necessary to enhance firms’ awareness ofintellectual property, Son said.
According to Tran Le Hong from NOIP, severalstart-up firms had not identified the right time for registration ofintellectual property, which might result in unexpected disputes.
Hong said that enhancing awareness ofintellectual property should start from universities, but few universities werecurrently providing training on the subject.
Deputy principal of theUniversity of Foreign Trade, Le Thi Thu Thuy, said that the Ministry of Scienceand Technology needed to enhance cooperation with the Ministry of Education andTraining to put intellectual property onto the syllabus.
The Ministry of Scienceand Technology was implementing an intellectual property development programmebetween 2016-2020, with a focus on providing support to start-ups andentrepreneurs.
The ministry’s reportshowed that there were around 3,000 start-ups in Vietanam, nearly doubling thefigure at the end of 2015.
Prime Minister Nguyen XuanPhuc previously affirmed that the Government was committed to protectingintellectual property rights, innovations and ideas because these were valuableintangible assets for start-ups.
The PM also urgedministries to provide support to start-ups and enhance their awareness ofintellectual property to promote their development.-VNS/VNA
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