Goods counterfeiters face heavier fines

Any organisation or individual that violates intellectual property rights will be fined from VND2 million to VND500 million (US$100-25,000), according to a new decree that will take effect on November 9.

Intellectual-property rights violations include the act of selling, advertising, transporting, storing and displaying products for sale that are fake or are imitations of other trademarks.

Other violations include taking advantage of, or using products that violate the invention copyright, or using beneficial solutions or products made from the process that violates the invention copyright.

Companies and individuals will be fined between VND10 million and VND30 million for those who violate business confidentiality rights and for causing misunderstanding about business identity, business models and origin of the products through many means of business communications like advertisements or business documents.

Fines of between VND1 million and VND3 million will be charged for those who fail to follow inspection requests from relevant authorities about intellectual rights, such as refusing to agree to an inspection or fine imposed by inspection teams without any reason, or failing to provide sufficient or accurate information necessary for inspection and punishment.

The new decree will replace the old one that took effect on September 22, 2006. -VietNamNet

Tags: Vietnam fake goods