Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Vietnam's New Franchise Law: Momentum for Country Experiencing Strong Consumer Demand Growth
Franchising is a relatively new but rapidly developing strategy in Vietnam. Although there are currently few business franchise systems based on the traditional Western model currently operating in Vietnam, there is an increasing presence of established international franchise systems currently operating through company-owned and-managed outlets and increasing numbers of local systems, albeit at an early 'product distribution' evolutionary stage. The commercial environment for franchising is increasingly favorable: Vietnam is the fastest-growing Asian economy after China and India, and it is experiencing strong GDP growth and annual retail growth of more than 20%. There is a steady rise in disposable income, an emerging new consumer class, and increasing brand consciousness.
However the development of Vietnam's franchising sector has, to date, been hampered by the lack of a specific law on franchising and its regulation under complex, unsuitable, and overlapping regulations on intellectual property and technology transfer, coupled with general contractual obligations. As part of its extensive law modernization process preparatory to World Trade Organization ('WTO') accession expected in 2007, Vietnam has recently introduced a dedicated franchise law that provides a framework for the orderly development of its franchise sector. On June 1, 2005 the National Assembly of Vietnam passed a new Commercial Law that came into effect on Jan. 1, 2006. This law, in '8, addresses franchising in eight general articles which provide the framework for an implementing decree: Decree Making Detailed Provisions for Implementation of the Commercial Law with Respect to Franchising Activities, which was issued on March 31, 2006, and came into effect on July 22, 2006, and which 'makes detailed provisions for the implementation of the Commercial Law with respect to franchising activities in the territory of the Socialist Republic of Vietnam' (Article 1). Pursuant to the Decree, a Circular Providing Guidelines or Procedures for Registration of Franchising Activities was issued on May 25. The Circular includes, in an Appendix, the 'Franchise Description Document,' which prescribes the prior disclosure protocol that is a central feature of the new Vietnamese regulation.
Application of Law and Definition of Franchising
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
"Holy Fair Use, Batman": Copyright, Fair Use and the Dark Knight
The copyright for the original versions of Winnie the Pooh and Mickey Mouse have expired. Now, members of the public can create — and are busy creating — their own works based on these beloved characters. Suppose, though, we want to tell stories using Batman for which the copyright does not expire until 2035. We'll review five hypothetical works inspired by the original Batman comic and analyze them under fair use.