Binh Minh Plastic (BMP), a nearly 50-year-old brand, is forced to defend its intellectual property rights amid increasing counterfeiting and imitation. The company expressed concern over the ineffectiveness of current laws and has spent over 19 billion VND on measures to protect its brand, yet results are unsatisfactory. The legal system has significant shortcomings, while enforcement agencies often lack decisiveness and consistency. This situation poses risks not only for BMP but also for thousands of other businesses.
Binh Minh has called for legal reforms with recommendations such as establishing specialized intellectual property courts, expanding independent appraisal mechanisms, and creating standards for quantifying non-material damages. BMP representatives assert their commitment to brand protection for their interests and those of consumers. Experts have highlighted the importance of intellectual property rights in the market economy and encouraged businesses to proactively safeguard their intellectual assets.
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