Law No. 42/2019/QH14 dated June 14th, 2019 of the National Assembly on amendments to some articles of Law on insurance business and Law on intellectual property

14/06/2019    59

Issuing date: 14/06/2019

Issuing authority: National Assembly

Effective since: 01/11/2019

This Law supplements to the regulations on conditions for provisions of insurance auxiliary services and amends, supplements to the regulations on registration of intellectual property rights. 

Accordingly, insurance auxiliary service, including insurance consulting, insurance risk assessment, actuarial analysis, insurance loss assessment, insurance claim assistance all belong to conditional business lines (Clause 2 Article 3).

Insurers, insurance brokers and other juridical persons shall be entitled to provide insurance auxiliary services. Particularly, individuals shall be only entitled to provide to insurance consulting services (Article 93a).

Regarding intellectual property rights, according to the amendments at this Law, property rights to “well-known trademarks” shall be granted on the basis of their use instead of registration (Clause 1 Article 2).

Trademark holders shall use trademark continuously. In case the trademark is not used continuously for five years or more, the Trademark Certificate of Registration shall be invalidated (Clause 8 Article 2).

Regulations on intellectual property rights in this Law will take effect from January 14th, 2019, applying to the following cases:

a) Applications for industrial property rights submitted from January 14th, 2019;

b) Requests for invalidation of the Patent for invention, Patent for useful solutions, Certificates of geographical indications registration issued on the basis of applications for industrial property rights submitted from January 14th, 2019;

c) Requests for invalidation of trademark registration certificates submitted from January 14th, 2019;

d) Lawsuits over infringement of intellectual property rights accepted by competent authorities from January 14, 2019.

This Law takes effect from November 1st, 2019.

The Document is attached below.

Source: Vietnam Legal Documents Database