Recently, the National Assembly's law committee issued a draft of the new Electronic Transaction Law which is now undergoing comments from interested public parties. This is the first time that electronic transactions will warrant their own law as previous regulations on this subject matter have been limited to decrees of the government. This article will [...]
Data Localization, Where We Stand In 2018 the National Assembly passed the controversial new law on cybersecurity that subsequently went into effect on 1 January 2019. In addition to providing rules that allowed the government to arguably censor residents who posted objectionable content on the internet, it also expanded and simultaneously solidified the data localisation [...]
A new NFT model has recently hit the news, StepN, which is a game/program/model in which users have the opportunity to buy an NFT sneaker which represents their real sneaker and is linked to their movements via their cellphones or smartwatch. They can then be rewarded with cryptocurrency according to how much they actually move [...]
After the uproar concerning the cancellation of Tan Hoang Minh Group's nine bond issuances and the arrests of several members of their management, I wanted to look a bit more into the matter. As a result, I asked one of our legal assistants to prepare an article about what's going on. The article below, written [...]
One of the major issues we face as lawyers in Vietnam is protecting our clients in drafted contracts. There are numerous elements that go into such drafting, but one major element is the inclusion of penalties for breaches of the contract. While Vietnam does not recognize liquidated damages, there are a number of other penalties [...]
Under the laws of Vietnam, e-commerce activity means conducting a part or the whole of the process of commercial activity by electronic means connected to the internet, mobile telecommunications network or other open networks. A commercial activity is activity for profit-making purposes, comprising purchase and sale of goods, provision of services, investment, commercial enhancement, and [...]
I'm a little scared. And it's Facebook's fault. The thing is, for the longest time, the world was organized into discreet territories with their own sovereignty, powers, and abilities to control the trade that crossed their borders. They could physically stop something or someone from entering their country by holding them up at the border [...]
Electronic Transactions (E-Transactions) in Vietnam As defined in the Electronic Transaction Law (the ET Law), electronic transaction or e-transaction means a transaction conducted by electronic means. Electronic means are means that operate on the basis of an electric, electronic, digital, magnetic, wireless, optical, electro-magnetic technology or similar technologies. Any transactions by electronic means in the [...]
This week we wanted to highlight our upcoming legal guide for investment in Vietnam prepared by Associate Le Thanh Cong and Legal Assistant Pham Hoang Vu. This excerpt from the full guide covers investment support by the government for enterprises, particularly SMEs and technology startups, which is a subset of investment incentives offered under the [...]
Data Intermediaries and Analytics Firms International treatment of data has led to the creation of a couple of categories of service providers: data intermediaries who are third parties that transfer data from one entity to another and are bound by the rules of specific jurisdictions, and analytics firms who take the data provided by banks [...]