How does VIETNAM’s IP legal framework compare to INTERNATIONAL STANDARDS? Prior to Vietnam’s accession to the World Trade Organization (WTO) in 2007, the country issued many new laws and regulations to strengthen the protection and enforcement of IP rights, and to upgrade these laws to meet the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement). Generally speaking, Vietnam’s IP legislation is now relatively comprehensive, covering most aspects of protection of IP in accordance with international standards required by the TRIPS. Although a sounder legal framework is now in place, the enforcement mechanisms still need to be strengthened, fines must increase to truly become an effective deterrent, and awareness of counterfeits among Vietnamese consumers needs to be raised.
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