Announcement Ceremony of Invention Commercialization Solution Competition 2021 and IPSTAR Invention Star Award

The IPSTAR Invention Star Honor is an award to recognize the contributions of the owners who are individuals, research institutes, universities, and businesses with the most patents by considering the number of patents granted at the National Office of Intellectual Property for the period from January 1, 2016 to September 1, 2021.

The Invention Commercialization Solution Contest is a competition to find and select commercialized solutions to share and spread the experience of practical application of patented inventions/utility solutions by the National Office of Intellectual Property.

In the morning of September 25, 2021, the Organization Board held a ceremony to announce the Invention Commercialization Solution Contest and Honor the IPSTAR Invention Star via an online platform with the participation of SCCN Institute, Creative Association of Vietnam, the Department of Market Development and Science and Technology Enterprises and many businesses and audiences.

At the announcement ceremony, Mr. Phung Minh Hai (Head of Patent Commercialization Policy and Consulting Department, Institute of SCCN) - Head of the Competition and Honors Department - shared about the rules, subjects and organization time of Competitions and Honors.

Mr. Hai said that because the contest was held for the first time. There are a number of concepts that need to be agreed upon, which are:

+ Commercialization of an invention is understood as follows: The owner can exploit the invention by himself by applying the invention to his/her production and business process or the patent owner transfers the right to use or assigns the invention ownership rights to other subjects or other cases as prescribed by law.

+ Solutions for commercialization of inventions are options and ways to apply patents/utility solutions into practice, thereby creating useful values for life and potentially making profits. The above-mentioned patents/utility solutions must be granted a license or have a diploma notice issued by the National Office of Intellectual Property of Vietnam.

Contest solutions will be judged by the jury according to three criteria: the creativity of the solution, the feasibility of the solution and the effectiveness of the solution when applied in practice.

Therefore, the participants of the contest are all individuals with Vietnamese nationality or organizations established under Vietnamese law who are owners or are licensed to use and exploit patents of inventions/solutions, utility patents granted by the National Office of Intellectual Property of Vietnam or exploiting and applying patents/utility solutions that have expired protection in Vietnam have the right to register to participate.

Time to receive applications from the date of publication until the end of October 29, 2021 and the Award Ceremony will be held together with the main event of TECHFEST 2021.

For the IPSTAR Invention Star Award, Mr. Hai added that the participants were the owners with the highest number of patents and individuals with patents whose age at the time of application was less than 18 years old for the period of January 1, 2016-September 1, 2021. The review period is from the announcement ceremony to October 29, 2021 and the award ceremony was also held with the main event of TECHFEST 2021.

Through the IPSTAR Invention Star honoring event and the Invention Commercialization Solution contest, the Organization Board wants the owners to highlight the difficulties in the process of commercializing their products, thereby proposing Producing solutions and passing those valuable experiences on to other inventors. The difficulties encountered by the inventors will be practical documents for units, such as the Invention Association, the Institute for Patent Research and Technology Exploitation to research and propose recommendations to promote commercial activities in particular and commercialization of intellectual property in general.

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