In the context of economic development and the increasing commercial activities, the transfer of contracts related to energy supply, such as License contracts, plays a crucial role in ensuring the continuity and stability of production and business activities.
License Contract in IP
The License contract is essentially a technology transfer agreement.
With a License contract, parties can transfer their technology or creative works to other companies or third parties. This transfer serves various purposes. In Vietnam, Licenses are often executed between businesses when one party no longer has the capital to continue developing a product or urgently needs funding for a specific purpose.
In a License contract, the owner of the technology allows others to use their technology while retaining ownership rights.
Licensing through a License contract is necessary because the intellectual property rights holder holds the exclusive rights to their industrial property. Others cannot use these rights without the owner’s consent. This License contract serves as written confirmation of that consent to avoid potential complications that might arise from oral agreements.
License Contract Registration Procedures
To register a License contract, the parties involved need to prepare the registration documents. The necessary documents include a copy of the signed License contract, documents confirming intellectual property rights ownership, information about the contracting parties, and other supporting documents.
The parties can submit the registration documents directly or via mail to the relevant authority, usually the Intellectual Property Office.
Upon receiving the License contract registration documents, the Intellectual Property Office will examine the documents within a specified period, typically two months from the submission date. The evaluation process includes formal and substantive examinations.
Formal examination aims to verify the validity of the registration documents. Substantive examination checks the validity of the licensing process, transfers, and the content of the transfer to ensure that the intellectual property rights owner has the authority to transfer the rights to others.
If there are errors in form or content, the applicant will receive notifications detailing the specific issues that need to be resolved to meet the registration requirements. If the application fails to meet the stipulated criteria and cannot be corrected within the given timeframe, the applicant will receive a notice of the intended rejection of the contract registration.
If the application meets the requirements or after any deficiencies have been corrected in accordance with the regulations, the License contract will be recorded in the National Register of Industrial Property Transfer Rights. The decision to register the License contract will be published in the Industrial Property Gazette, serving as the official announcement to the public.
Leave a Reply