On September 30, 2024, Vietnam’s Ministry of Science and Technology (MOST) issued Circular No. 06/2024/TT-BKHCN (“Circular 06”), amending and supplementing certain articles of Circular No. 11/2015/TT-BKHCN dated 26 June 2015. These two circulars are the primary guidance on Decree No. 99/2013/ND-CP and Decree No. 46/2024/ND-CP on administrative sanctions in industrial property. Circular 06, which will come into force on November 15, 2024, will improve the alignment between the recently amended IP Law and its subordinate legal instruments. Some of the notable amendments of Circular 06 are set out below. Clarification of Additional Sanctions: Circular 06 clarifies the application of the additional sanction of “full or partial suspension of production, trading, or service activities for 1 to 3 months”, which was recently amended in Decree No. 46/2024/ND-CP. It specifies that only activities directly related to the violating goods or services will be partially suspended. Preventive Measures for Domain Name Disputes: Circular 06 specifies the required documents for brand owners to request the preventive security measure of placing a temporary hold on the registration of domain names during enforcement action against cybersquatters. The introduction of this regime under Circular 06 is expected to enhance cooperation between the Vietnam Internet Network Information Center, domain name registrars, and enforcement authorities to place the temporary hold on infringing domain names. Unfair Competition Relating to Domain Names: Circular 06 outlines specific requirements to prove unfair competition involving the possession and use of Vietnamese domain names that are identical or confusingly similar to another person’s registered trademark, trade name, or geographical indication. However, the regime established by Circular 06 does not fully align with the Uniform Domain Name Dispute Resolution Policy (UDRP) mechanism, a standard procedure for the settlement of domain name disputes that Vietnam is obligated to adhere to under the Comprehensive and Progressive Agreement

Crowdfunding has emerged as a promising option for raising capital, particularly for startups and small businesses. In Thailand, investment-based crowdfunding falls primarily under the regulatory purview of the Securities and Exchange Commission (SEC). The SEC is responsible for licensing and overseeing crowdfunding portals, ensuring compliance with regulatory requirements while ensuring investor protection and market integrity. The crowdfunding regulations in Thailand allow non-publicly traded companies to raise funds by offering equity and debentures for sale through SEC-licensed crowdfunding portals. This framework opens new possibilities for businesses seeking alternative funding sources and for investors looking for new opportunities.  Crowdfunding Portals Under Thai regulations, “crowdfunding portals” are defined as websites, mobile phone applications, or other similar electronic media developed for offering securities for sale. To operate a crowdfunding portal in Thailand, applicants must meet several key requirements: Incorporation: The applicant must be incorporated in Thailand. This requirement ensures that the portal operator has a significant local presence and is subject to Thai law. Minimum capital: A minimum paid-up registered capital of THB 5 million is required. This capital requirement helps ensure that portal operators have sufficient financial resources to maintain their operations. Operational readiness: The applicant must have crowdfunding portal systems ready for use upon applying to the SEC for approval to operate. This requirement demonstrates the applicant’s technical capability and readiness to provide crowdfunding services. These requirements are designed to ensure that crowdfunding portal operators are well-capitalized, technologically prepared, and committed to operating within the Thai market. Business and Investment Implications The regulatory framework for crowdfunding in Thailand offers non-publicly traded companies with an additional avenue for raising funds, as licensed crowdfunding portals provide a structured and regulated environment for fundraising. However, companies must ensure compliance with SEC regulations when offering securities through these platforms. For investors, crowdfunding offers new investment

Tilleke & Gibbins has contributed the Thailand chapter to the Franchise 2025 from the International Comparative Legal Guides (ICLG) series published by Global Legal Group. This comprehensive guide provides detailed analysis of franchise laws and regulations across multiple jurisdictions worldwide. Each chapter of the guide follows a Q&A format, organized into key sections covering critical aspects of franchise law and operations, including: Relevant legislation and rules governing franchise transactions Business organization options for franchised operations Competition law considerations Protection of intellectual property and brands Liability issues and risk mitigation Governing law and dispute resolution Real estate matters Online trading regulations Termination requirements Joint employer risks and vicarious liability Currency controls and taxation Commercial agency considerations Good faith obligations and fair dealing requirements Ongoing relationship management Franchise renewal processes Franchise migration procedures Electronic signatures and document retention The Thailand chapter, authored by Alan Adcock and Kasama Sriwatanakul, examines these topics in detail, with particular attention to recent developments like the Trade Competition Commission’s Franchising Guidelines which introduced new disclosure requirements and protections for franchisees. The complete Thailand chapter is available as a PDF below. The Thailand chapter—and the full Franchise 2025 guide—are also freely available on the ICLG website.

On September 18, 2024, Thailand’s Securities and Exchange Commission (SEC) issued comprehensive guidelines to make it easier for foreign business operators to provide investment services in Thailand. These guidelines are designed to support Thailand’s goal of becoming a global financial hub and align with government efforts to enhance the ease of doing business. The guidelines primarily focus on streamlining the process for foreign firms applying for securities and derivatives licenses, and ensuring quicker and more transparent entry into the Thai market for businesses offering securities (such as shares, mutual funds, and collective investment schemes) and derivatives (such as futures and options). Fast-Track Licensing Under the new guidelines, the SEC will provide support to foreign companies wishing to operate securities businesses in Thailand. This support includes a fast-track licensing process for foreign operators that meet certain qualifications, such as having a company incorporated in Thailand, having operated a system of group companies for at least five consecutive years, and being supervised by a regulator under the IOSCO MMoU (International Organization of Securities Commissions Multilateral Memorandum of Understanding). The SEC will also collaborate with the Ministry of Commerce to grant exemptions from the requirement of a foreign business license for companies providing certain services relating to or supporting securities or derivatives businesses, such as net asset value calculation/confirmation for mutual funds, and promotion of capital market products. Applying for foreign business licenses has long been a complicated process for foreign operators, and this exemption can help reduce such complications. Targeted License Exemptions to Reduce Regulatory Burdens Foreign operators providing specific investment services may be exempt from full securities and derivatives licensing requirements, saving time and costs associated with the full licensing process, and allowing them to start their businesses quickly and efficiently. Key exemptions include: Foreign operators providing derivatives services solely