Vietnamese laws on valuation of invention: Shortcomings and recommendations

Abstract

The article highlights the current state of Vietnamese law on valuation of invention; pointing out some shortcomings of Vietnamese law on invention’s valuation including: 1) There are still inconsistencies in the use of terms; 2) There are certain inaccuracies in the use of terminology; 3) There are conflicts between legal documents on recognition of the value of inventions; 4) There is a lack of principles and standards for allocation of contribution rates in cases where there are more than one intangible assets that together create advantages for the enterprise; 5) There is a lack of specific principles and standards in the valuation of new inventions. After analyzing these shortcomings, the authors propose some recommendations to further improve Vietnam's laws on valuation of invention.