Legal Counselling

Vietnam: How are penalties for buying inventions to destruct or to leave them idle?

09:54, 25/07/2014

This content is specified in Decree No. 71/2014/NĐ-CP of Vietnam’s Government detailing the Law on Competition on the imposition of penalties for violations against the law on competition.

Currently, the agreement to limit technology and investment is one of the anti-competitive agreements.

According to Decree No. 71/2014/NĐ-CP of Vietnam’s Government, each party to the agreement whose combined market share in the relevant markets is at least 30 % shall be fined up to 10% of its turnover of the financial year before the year in which one of these following violations is committed:

- Agreement to buy inventions, useful remedies and industrial designs to destruct or to leave them idle;

- Agreement to limit the capital used for extending the production, improving the goods and service quality or other development.

mua sang che de tieu huy, nghi dinh 71/2014/NĐ-CP

In addition to the fine prescribed above, any enterprise committing any violation may be liable to some remedial measures prescribed in Clause 2 Article 8 of this Decree.

Thus, each party to the agreement whose combined market share in the relevant markets is at least 30% buy inventions to destruct or to leave them idle shall be fined up to 10% of its turnover of the financial year before the year in which the violation is committed and shall be liable to some remedial measures.

View more details at Decree No. 71/2014/NĐ-CP of Vietnam’s Government effective from September 15, 2014.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

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