The effective protection of intellectualproperty (IP) rights would encourage innovation, healthy competitionand development in Vietnam , experts said at a two-day seminar entitled"Intellectual Property Rights and Vietnam 's Deep Integration intothe World Economy".
Jennie Ness, regional IP attache at the US Department of Commerce,said IP assets in the US accounted for 47 percent of total assetsand were worth over 5 trillion USD.
She said a third of all private economic activities in the US wereprotected by IP and that copyright infringements cost the world'seconomy 650 billion USD annually.
Microsoft said 97 percent of its total assets were IP protected, while70 percent of Walt Disney's are protected.
Those attending the seminar in Hanoi , which ended on May 12, saidthat Luc Ngan lychee saw a price increase of between 25 percent and 200percent after the Bac Giang Company gained certification.
Trade mark protection also helped increase enterprises' earnings, theseminar heard.
Ho Thuy Ngoc, deputy head of the Foreign Trade University 'sInternational Education Faculty, said establishing a trade mark wascrucial to building a brand name.
She said Microsoft and Coca Cola's trademarks last year were valued at56.6 billion USD and 69 billion USD, respectively.
"However, Vietnamese companies have not fully acknowledged thisissue," she said.
A survey of 500 businesses in the country shows that around 56 percentare aware of the importance of IP but that one in 10 spends just 5percent of their investment budgets on IP development.
Statistics released in 2007 showed that just three firms had appliedthat year for IP protection in the US , while the number of NorthAmerican firms in the country doing so was 728. Meanwhile, the number ofVietnamese firms in the US registering their trademarks wasone-tenth of the number of American companies.
"It means that Vietnamese companies have not benefited from using IPprotection, while foreign ones have," she said.
Experts at the seminar said the Vietnamese Government should helpfirms looking to do business abroad with IP protection.
Ness said businesses should give priority to IP protection andthat governments should have policies in place to encourage innovation.
The seminar heard that IP protection could boost profits, generatejobs, raise incomes and contribute to a country's development./.
Jennie Ness, regional IP attache at the US Department of Commerce,said IP assets in the US accounted for 47 percent of total assetsand were worth over 5 trillion USD.
She said a third of all private economic activities in the US wereprotected by IP and that copyright infringements cost the world'seconomy 650 billion USD annually.
Microsoft said 97 percent of its total assets were IP protected, while70 percent of Walt Disney's are protected.
Those attending the seminar in Hanoi , which ended on May 12, saidthat Luc Ngan lychee saw a price increase of between 25 percent and 200percent after the Bac Giang Company gained certification.
Trade mark protection also helped increase enterprises' earnings, theseminar heard.
Ho Thuy Ngoc, deputy head of the Foreign Trade University 'sInternational Education Faculty, said establishing a trade mark wascrucial to building a brand name.
She said Microsoft and Coca Cola's trademarks last year were valued at56.6 billion USD and 69 billion USD, respectively.
"However, Vietnamese companies have not fully acknowledged thisissue," she said.
A survey of 500 businesses in the country shows that around 56 percentare aware of the importance of IP but that one in 10 spends just 5percent of their investment budgets on IP development.
Statistics released in 2007 showed that just three firms had appliedthat year for IP protection in the US , while the number of NorthAmerican firms in the country doing so was 728. Meanwhile, the number ofVietnamese firms in the US registering their trademarks wasone-tenth of the number of American companies.
"It means that Vietnamese companies have not benefited from using IPprotection, while foreign ones have," she said.
Experts at the seminar said the Vietnamese Government should helpfirms looking to do business abroad with IP protection.
Ness said businesses should give priority to IP protection andthat governments should have policies in place to encourage innovation.
The seminar heard that IP protection could boost profits, generatejobs, raise incomes and contribute to a country's development./.
