A technology transfer agreement must be concluded in writing or in any forms which are considered as written transactions under regulations of the Civil Code of Vietnam.
Technology transfer refers to the transfer of the ownership or the right to use a given technology from the party that has the right to transfer such technology to the transferee.
According to the Law on Technology Transfer 2017 of Vietnam, a technology owner shall have the right to transfer the ownership or the right to use such technology. An organization or individual that is entitled to use a given technology may transfer the right to use such technology to another one but it requires the technology owner's approval.
The Law on Technology Transfer 2017 of Vietnam takes effect from July 01, 2018. According to this Law, technologies that are no longer popularly used and transferred in developing countries, technologies that use toxic chemicals, etc. shall be subject to banned transfer from foreign countries to Vietnam or domestically.
This is one of the important contents mentioned in the Law on Technology Transfer 2017 approved by the National Assembly XIV of Vietnam at its 3rd session on June 19, 2017.
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