CTELG Talk - Session 2: “Patent Valuation in Vietnam: Law and Enforcement”

In terms of the spirit of Dedicating to Community Service - Spreading Knowledge, on May 18, 2022, the Center for Economics, Law and Governance (CTELG) under UEH School of Economics, Law and Governance (CELG)-UEH), followed the second session of CTELG Talk Series with “Patent Valuation in Vietnam: Law and Enforcement” Theme. The program had the participation of nearly 80 delegates as presidents, general directors, managers, price appraisers at valuation companies; directors of valuation consulting departments of auditing companies, investment funds, banks; lecturers; attorneys and intellectual property managers at the enterprises.

CTELG Talk – Season 2 is co-organized by CTELG Center and Faculty of Law of CELG School and Faculty of Law of National Economics University (NEU) with “Patent Valuation in Vietnam: Law and Practice” theme. This topic is within the implementation framework of Nafosted Project by Assoc. Prof. Dr. Tran Van Nam - Dean of Law Faculty, NEU, Arbitrator of Vietnam International Arbitration Center as Chairman. This event was arranged into two sessions with the sharing of 4 experienced industry experts in Session 1 and a discussion roundtable in Session 2.

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Overview of CTELG Talk Series First season, part 2, at Hall B1.205 - Session 1

At the beginning of Session 1, Dr. Dao Minh Duc - Director of Minh Duc Institute of Intellectual Property Management - gave an overview of the valuable aspects of inventions in valuation. The topic has contributed to helping the practicing appraiser with better understanding regarding the subject characteristics related to the appraised property. Next, Dr. Trinh Minh Tam - Deputy Director of the Institute of Scientific Evaluation and Technology Valuation, Ministry of Science and Technology - presented a presentation with “Applying the law on technology valuation, intellectual property from the perspective of practical activities” theme. To better illustrate how to apply this, MSc. Nguyen Quang Huy - Vision & Associates Co., Ltd. - provided a real-life case of “Intellectual Property Valuation” from the WTM Made in Vietnam patent case and its impact on the invention commercialization. Last but not least, MSc. Tran Manh Hung - Managing Partner, BMVN International Law Firm (Member of Baker & McKenzie International Law Firm) - shared his international experience related to legal adjustment for patent valuation.

The speakers detailed issues surrounding patents, patent valuation/appraisal and related legal issues with engaging and interesting stories and practical experiences.

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Dr. Dao Minh Duc - Director of Minh Duc Institute of Intellectual Property Management sharing the valuable aspects of the invention in appraisal

Dr. Trinh Minh Tam - Deputy Director of the Institute of Scientific Evaluation and Technology Valuation, Ministry of Science and Technology - presenting on the direction of applying the law on technology valuation and intellectual property from practical activities.

MSc. Nguyen Quang Huy - Vision & Associate Co., Ltd. - presenting on the valuation of intellectual property from the WTM Made in Vietnam patent case and its impact on the invention commercialization

MSc. Tran Manh Hung - Managing Partner, BMVN International Law Firm (Member of Baker & McKenzie International Law Firm) - sharing international experience on legal regulation of patent valuation

What is more, “Commercialization of inventions” content is shared by the speakers. The speakers asserted that if the valuation/appraisal of patents is completely tied to neither practice nor commercialization, it will be difficult to survive and maintain in the profession. In addition, the speakers emphasized the establishment of ownership rights for intellectual property in order to avoid unnecessary loss of profits for inventors and to encourage them to have more active investment activities concerning research and invention of new inventions in the future.

These papers have a combination of theoretical presentation and practical illustration. Concurrently, around these presentations, further experiences are drawn from actual experiences; therefore, attendees can visualize and understand the technical and legal aspects of the decision-making regarding patent valuation/appraisal, an asset class in the group of intellectual property - a group of assets with a high difficulty degree in valuation.

Session 2 is a roundtable discussion session with guest speakers including: Assoc. Prof. Dr. Tran Van Nam - Dean of Law Faculty, National Economics University, Arbitrator, Vietnam International Arbitration Center; Dr. Dao Minh Duc - Director of Minh Duc Institute of Intellectual Property Management; Engineer Lai Minh Chuc - Director of Vietnam Environmental Science and Technology Company; MSc. Cao Minh Hung - Rouse Legal Vietnam Law Firm, Hanoi branch. The roundtable discussion was conducted under the coordination of Mr. Nguyen Kim Duc - Director of CTELG Center, Appraisal of practice prices.

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Overview of CTELG Talk Series First season, part 2, at Hall B1.205 - Session 2

Guest speakers and moderators in the roundtable discussion

From left to right: MSc. Cao Minh Hung, Assoc. Prof. Dr. Tran Van Nam, Engineer. Lai Minh Chuc, Dr. Dao Minh Duc, Speaker. Nguyen Kim Duc

In this discussion session, “Invention Valuation in Vietnam: Law and Enforcement” topic was presented in a question-and-answer (Q&A) manner. Under Coordinator Nguyen Kim Duc’s guidance, the guests are able to listen to more experiences that Engineer Lai Minh Chuc - the inventor himself - has gone through, from the initial steps listed as initial ideation to the time when all the stages are completed and the invention is born. These extremely valuable shares from the owner of the invention do contribute to the author’s comments regarding the advantages that the invention possesses. From a valuation/appraisal perspective, these highlights will be the main aspects contributing to the impact and the formation of the values of the invention.

Dr. Dao Minh Duc, in his professional manner, has shared quite new and interesting perspectives in patent valuation through diagrams and practical experiences that the author has accumulated over a long time of researching, developing, teaching and applying research theories to the market.

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Expert Pham Thi Binh - Chairman of Hoang Gia Appraisal JSC,

Former Deputy Director, Government Pricing Department – exchanging personal views to guest speakers

Assessor. Ngo Doan Thu Thao - Head of Valuation & Advisory Department - DCF Vietnam Joint Stock Company - asking questions to the speakers

Throughout the seminar, the ‘commercialization’ term as a keyword that was repeated much is also the topic that most appraisers and patent owners are interested in. The application of the invention to support and solve problems in the market is a prerequisite no matter how great an invention can be. Sharing further concerning this issue, Assoc. Prof. Dr. Tran Van Nam had some notes when commercializing inventions after the valuation/appraisal process. Successful commercialization is determined by many factors, in which, an important issue to be mentioned is the will of the parties involved in the patent licensing transactions. Users’ recognition in terms of the value of an invention is an important factor in commercialization and plays the crucial role to the success of patent licensing deals.

In terms of applicable law, MSc. Cao Minh Hung commented that the legal document system of Vietnam has rather clearly and fully regulated issues related to the patent price appraisal. Therefore, the problem remains is that how to add value that appraisers can calculate by applying appraisal criteria. The author also believes that the valuation/appraisal of patents is a difficult task since the access to information sources is rather limited, leading to information asymmetry. This factor strongly affects the appraisal of patent prices in general and the value of inventions in particular.

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Dr. Duong Kim The Nguyen - Dean of UEH Law Faculty (far left) and Assoc. Tran Van Nam - Dean of NEU Law Faculty (far right) - presenting a thank you letter from the Organizing Committee to the Guest speakers

Delegates and speakers taking souvenir photos at the program

The CTELG Talk Event - Session 2 with “Patent Valuation in Vietnam: Law and Enforcement” Theme took place successfully. To be true to CTELG's mission with the spirit of Commitment to Community Service - Spreading Knowledge, CTELG Talk Series will be a series of talks and presentations with national and international authors, discussing various aspects of economics, law and management organized by CTELG. The organizers look forward to receiving the attention and suggestions from our dear speakers and readers so that the upcoming programs and events can be much better.

Additional photos at the event: