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On September 27, the Seminar “Trends in the Commercialization of Intellectual Property Products” took place within the framework of the Vietnam Digital Content Innovation Award (VCA) 2024.
The seminar aims to discuss and share experiences, views, and effective solutions for businesses and organizations to maximize the value of intellectual property assets, especially in the field of production and creation of cartoon characters.
Currently, according to the report, the character licensing market in 2022 has accounted for nearly $300 billion in revenue that cartoon characters bring to businesses and organizations.
According to Ms. Vu Thuong – Director of Sconnect International Animation Training Academy (SAMA), the creative activity of cartoon characters in advertising has only been initiated in Vietnam since 2020. Thus, there is still a lot of potential in this field that needs to be exploited and developed.
During the conference, Mr. Nguyen Duc Thang – Copyright Director of WOA Universal shared: “After the COVID-19 pandemic, the economy in the world and Vietnam has made significant shifts in user behavior, experience, as well as consumer budget. Some large companies in various industries have seen a decline, but for the character licensing market, there are signs of growth.” It can be seen that the commercial exploitation of intellectual property rights has become the “chicken that lays golden eggs” of many large corporations.
“When applying cartoon characters and products, characters will not have limitations in terms of form or expression. In addition, the use of characters gives businesses a solution to save production costs but still bring maximum advertising efficiency and can exceed expectations,” Mr. Nguyen Duc Thang added.
Accompanying economic life is the law, according to which the event invited and consulted with Lawyer Nguyen Quang Vinh
Lawyer Nguyen Quang Vinh shared: This field also has some potential risks.
Image: Lawyer Nguyen Quang Vinh shared
Lawyer Nguyen Quang Vinh – Director of BROSS & Associates Intellectual Property Company said: “The commercial industry in Vietnam still has many challenges, especially in the context of incomplete legality. Intellectual property rights in Vietnam are a set of rights that are protected by law through different standards, and rights are only valid when registered.”
He also added: “This sets a requirement for businesses to carry out the necessary procedures to register and protect their rights. In addition, the navigation of goods and products related to the virtual universe is also an important factor to avoid risks and ensure sustainable development in this field.”
VCA 2024 organizers give flowers to speakers
Experts agree that, in the context of a changing economy, the effective exploitation of intellectual property rights will play a key role in creating sustainable value for businesses. The seminar affirmed the important role of the commercialization of intellectual property products, especially cartoon characters, in promoting the development of the creative industry in Vietnam. However, in order to fully exploit the potential of this field, it is necessary to improve the legal framework and mechanisms to protect intellectual property rights.
The event has created a valuable opportunity for businesses and organizations to exchange, learn and develop, promising to contribute to the strong development of the creative industry in Vietnam in the coming time.
