Solutions to promote the equal commercialization of traditional knowledge in Vietnam

Abstract

The equal commercialization of traditional knowledge plays an ever increasingly important role in poverty elimination, cultural preservation, and sustainable socio-economic development. However, the commercial exploitation of traditional knowledge has not been paid appropriate attention whereas reasonable benefits of the indigenous are not properly respected; privacy, culture and belief of the indigenous community are violated. In order to promote the commercialization of traditional knowledge as well as to ensure the equality in the exploitation process, this paper presents an overview of the current commercial exploitation of traditional knowledge in Vietnam as well as analyzes reasons leading to unsustainable and unequal exploitation of traditional knowledge, thereby providing feasible solutions to boost the equal commercial exploitation of traditional knowledge.