Requirements of a License Agreement

  1. Full name and address of the licensor and licensee;
  2. Details of the licensed subject;
  3. Scope of the license including:
    – type of license (exclusive/non-exclusive);
    – object of the license determined by the restrictions on the right to use and the restrictions on the industrial property object (patent for invention/utility solution/industrial design or certificate of registration of trademark);
    – territorial restriction (the Vietnamese territory);
    – duration (within the duration of the patent for invention/utility solution/ industrial design or of the certificate of registration of trademark);
    In case of a sub-license, the license scope must fall within the license scope of the exclusive. license agreement on the corresponding sub-license.
  4. Price of the license;
  5. Rights and obligations of each party;
  6. Conditions for amendment, termination and invalidation of the agreement;
  7. Measures of settlement of complaints and disputes;
  8. Date and place of signing;
  9. Signatures of the parties or of their authorized representatives with the full names, and positions of the signatories;

Documents Required for Recordal of a License Agreement

  • A Power of Attorney from the licensor and licensee (required within one month from the filing date);
  • Two original or certified copies of the agreement, including appendix or appendices (if any) and their Vietnamese translations;
  • A certified copy of the patent of invention/utility solution/industrial design or certificate of registration of trademark. If the agreement to be approved is a sub-agreement, it must be accompanied by a copy of the certificate of registration of the corresponding exclusive agreement;

Notes:

  • License agreement should be recorded with the Vietnam National Office of Industrial Property to be enforceable;
  • Multiple page agreement must have signatures of both assignor and assignee on each pages or all pages must be attested and marginally stamped;
  • For all applications including applications for utility solution, patent, trademark and industrial design, notarization of Power of Attorney and Deed of Assignment is no longer required, just need to be signed the applicant if the applicant is a natural person; or by the authorized person of applicant if the applicant is a legal entity and affixed by the corporate seal of such an