The remuneration for the innovator is at least 7% of the profit.

(Baonghean) On March 2, 2012, the Government issued Decree No. 13/2012/ND-CP on promulgating the Initiative Charter.

Accordingly, in case the investor creating the initiative is an economic organization or a revenue-generating and independent accounting unit, if there is no agreement between the author of the initiative and the investor creating the initiative, the remuneration level for the author of the initiative is determined as follows: Annual remuneration in the first 3 years of applying the initiative (paid within 1 month from the end of each year of application) is at least 7% of the profit earned from applying the initiative each year.

In case the profit from applying the initiative cannot be calculated, the remuneration shall be paid at a minimum rate of 5 times the general minimum wage as prescribed by the State at the time of remuneration payment; remuneration shall be paid within 3 years from the date the initiative is recognized, for each transfer of the initiative to another organization or individual for application, and shall be paid within 1 month from the date of receipt of payment for each transfer, at a minimum rate of 15% of the transfer price.

This Decree replaces the provisions on initiatives of the charter on initiatives, technical improvements - production rationalization and inventions issued together with Decree No. 31-CP dated January 23, 1981, amended and supplemented by Decree No. 84-HDBT dated March 20, 1990; effective from April 25, 2012.

NT (Synthesis)