A new Law on Technology Transfer will take effect from 1 July 2018. The new Law on Technology Transfer reintroduces the requirement for registration of cross border transfer of technology which was abolished under the existing Law on Technology Transfer in 2006. The registration is the condition for a technology transfer contract to be valid. However, the new law does not impose any specific restriction on a technology contract like maximum contract period or cap on technology transfer royalty. Without these limitations, it is not clear on what basis the licensing authority would register or refuse to register a technology transfer contract.
This post in part is contributed by Nguyen Linh Chi, an intern at Venture North Law Limited.