What are prohibited unfair competition practices in 2024 in Vietnam? What is the time limit for settlement of an unfair competition case in Vietnam?

What are prohibited unfair competition practices in 2024 in Vietnam?

Pursuant to Article 45 of the Law on Competition in 2018 stipulating prohibited unfair competition practices in 2024 in Vietnam:

- Trade secret infringement in the following forms:

+ Assessing and acquiring trade secrets by going against security measures of the owner of such trade secrets;

+ Disclosing or using trade secrets without consent of the owner.

- Forcing customers or business partners of other enterprises through threatening or coercion so that they do not enter in transaction or stop transaction with such enterprises.

- Discrediting competitors through directly or indirectly providing untruthful information about such competitors which negatively impacts their goodwill, financial status or business operation.

- Disrupting competitors’ business through directly or indirectly interrupting or disrupting their legitimate business operation.

- Illegally luring customers through:

+ Providing false or misleading information to customers about the enterprise or products, services, sale promotion programs, transaction conditions related to the products or services provided by the enterprise to attract customers of competitors;

+ Comparing products, services of the enterprise with those of the same kinds of competitors without evidence to prove the comparison.

- Sale of goods and services below cost that drives or probably drives competitors out of the market.

- Other prohibited unfair competition practices prescribed in other laws.

What are prohibited unfair competition practices in 2024 in Vietnam? What is the time limit for settlement of an unfair competition case in Vietnam? - image from internet

What are unfair competition practices according to the law in Vietnam?

Pursuant to Clause 5 Article 3 of the Law on Competition in 2018 stipulating unfair competition practices:

Unfair competition practices means competition acts performed by enterprises against the principles of good faith, honesty, business norms and standards, which cause or may cause damage to the legitimate rights and interests of other enterprises.

What are competition rights and rules in business in Vietnam?

Pursuant to Article 5 of the Law on Competition in 2018 stipulating competition rights and rules in business in Vietnam:

- Enterprises are entitled to freedom of competition in accordance with legal provisions. The State guarantees the lawful right to competition in business.

- Competition must be implemented on the principles of honesty, fairness, non-infringement upon the interests of the State, public interests, legitimate rights and interests of enterprises and consumers.

What is the time limit for settlement of an unfair competition case in Vietnam?

Pursuant to Article 90 of the Law on Competition in 2018 stipulating settlement of an unfair competition case:

Settlement of an unfair competition case

1. Within 15 days from receipt of the competition case dossier, investigation report and investigation conclusions, the President of the National Competition Commission shall issue a decision to:

a) settle the unfair competition case;

b) request Competition Investigation Agency to carry out further investigation if the evidence collected is not sufficient to determine violations against competition regulations. The time limit for further investigation is 30 days from the date of decision; or

c) suspend the settlement of the unfair competition case.

2. Time limit for settlement of an unfair competition case in case of further investigation is 10 days from the date on which the dossier, investigation report and investigation conclusions are received.

As regulated above, the time limit for settlement of an unfair competition is within 15 days from receipt of the competition case dossier, investigation report and investigation conclusions.

Time limit for settlement of an unfair competition case in case of further investigation is 10 days from the date on which the dossier, investigation report and investigation conclusions are received.

Best regards!