Exporters to US Advised to Pay More Attention to IP Rights

Participants at the workshop. Photo: congthuong.vn

To raise enforcement capacity and protect IP rights for Vietnamese businesses when exporting to the US market, the European-American Market Department under the Ministry of Industry and Trade organized a workshop that gave them some advice.

The participants shared the view that exporters need to pay attention to specific activities to ensure IP rights in the market, adding IP registration will also help them deal with counterfeit goods.

During the process of trademark registration, businesses must pay special heed to the scope of product registration, or in other words, their trademark strategy must be consistent and synchronized with their business strategy and legal regulations on trademarks of the host country.

In case a business has its legally registered trademark stolen by another business in a foreign market, competent agencies will provide information support to help it conduct legal activities to exercise the right to protect brands and trademarks and restore its legitimate rights of businesses in the market.

Companies were also advised implement strong internal policies, enhance cooperation with local authorities, and use technology to monitor and detect violations.

The US has retained its position as Vietnam's largest export market in recent years, while Vietnam has become the US' 7th largest trading partner and the largest trading partner of the US in the ASEAN region.

Statistically, bilateral trade turnover surges by an average of roughly 16% per year, representing a rise of more than 550% from US$ 21.8 billion in 2011 to more than $123 billion in 2022.

Since the normalization of relations in 1995, trade growth between the two countries has increased 360 times, from $450 million in 1995 to more than $123 billion last year.

The first 10 months of this year saw bilateral trade turnover reach more than $90.1 billion, of which exports hit more than $78.6 billion and imports stood at $11.5 billion./.

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