Viet Nam joined the Madrid Protocol on July 11, 2006.To register trademarks in member countries of the Madrid Protocol, owners will now just need to file a single application to the World Intellectual Property Organisation through the Department of Intellectual Property at the Ministry of Science and Technology.
Accession to the Madrid Protocol will help businesses reduce registration costs, which can range from US$1,500 to $2000 in the US and up to $2,500 in Japan.
Under the Madrid Agreement, a single $1,500 registration will protect a trademark in 46 participating countries, including the European Union (EU), the UK, the US, Japan, Singapore and the South Korea, all of which are important markets for Vietnamese companies. The waiting period for registration is 1-2 years, half the typical wait for single nation registrations.
According to the article, “Improving intellectual property protection would promote investment and trade for both local and international businesses operating in Viet Nam, he said, adding a 1.5 million euro project to apply the ECAP II programme would soon be underway.”