Foreign brands are increasingly popular in the Vietnam market as
Vietnam economy integrates into world economy.The openings of economy creates
opportunities to attract foreign investment into Vietnam through establishment
of companies. To continue to protect the fair competition, and interest of
consumer, it is important that the Vietnam state authority ensures the business
environment. Accordingly, violations related to
competition will be handled inaccordance with the law.
Arbitration law firm
in Vietnam
Acts of violation of competition under Vietnam laws are defined
in Article 1 of Decree 71/2014 / ND-CP, including: violations of regulations on
control of acts of restraint of competition; acts of violating regulations on
acts of unfair competition; violations of other provisions of law on
competition. According to the provisions of law, the above acts shall be
subject to the forms of punishment and fine. The most common and most powerful
impact on businesses and consumers are the violation of unfair competition.
In practice, there are a number of instances where unfair
competition acts are associated with intellectual property
rights violations,
which have a significant impact on business activities of enterprises in the
same field; violation of business secrets; activities of advertising that are
prohibited i.e. make direct comparison against competitor, provide falsified or
confused information to consumers…
If committed acts of unfair competition, the violator will be
subject to fine level from VND 10,000,000 to VND 140,000,000. At the same time,
additional measures and remedies will be applied, depending on the seriousness
of the breach, such as the revocation of the enterprise registration
certificate; deprivation of the right to use licenses or practice certificates;
confiscation of material evidences and means used to commit the violation,
including the confiscation of profits earned from the commission of the
violation; to restructure the enterprise, rectify to the public…
From the management of state authority, the
detection and handling of unfair competition acts create conditions for
enterprises to have equal opportunities in the market economy. From the
enterprise’s perspective, it is important to continuously review its business activities
in Vietnam to ensure compliance to competition law by its lawyers.
We
are a law firm in Vietnam with international standard, local
expertise and strong international network. We focus on customers’ needs and
provide clients with a high quality legal advice and services. For advice or
services request, please contact us via email ant@antlawyers.vn, or call us +84
24 730 86 529.
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