A license contract must be in writing, signed by the parties to the contract and registered with the NOIP in accordance with the prevailing laws and on payment of the prescribed fees.
If (i) the licensee is a state-owned-entity or a joint-venture with state capital, or (ii) the licensor is a Vietnamese party and the licensee is a foreign party, the license contract must be lodged with the Ministry of Science, Technology and Environment (MOSTE) for approval. After approval by MOSTE has been granted, the license contract must be registered with NOIP in order for it to be enforceable.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
