Added value

UK Brand Finace Valuation and Consulting Company announced its 50th Most Valuable Brand in 2017 with a total value of $ 11,279 million. Accordingly, the brand value - one of the intellectual property - is now an important factor promoting the competitiveness and development of a business.

That means that the value of a company in the marketplace is determined not only by monetary or material assets, such as equipment, machinery, or factory but also by intangible assets.

At the conference, "Enhancing knowledge on IP in Trademark Management - Industrial Design and Research for implementation of IP in Industry and Trade", Mrs. Pham Thu Giang - Vice director of the Department of Science and Technology (MOIT) affirmed that intellectual property is a kind of intangible asset that is gradually asserting its role as a measure of the viability and efficiency of enterprises.

Accordingly, the development of IP system is to effectively exploit intellectual property of enterprises, is one of the most important tools to improve the competitiveness of Vietnamese enterprises. According to the survey, up to 90% of consumers think that trademark is a deciding factor when they choose to shop.