Prior to becoming a member of the World Trade Organization (WTO) in 2007, Vietnam issued a series of new laws and regulations to strengthen the protection and enforcement of IP rights (IPR) to meet the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement). Generally, Vietnam’s IP legislation is now comprehensive, covering all aspects of protection of IP in accordance with international standards. However, the enforcement mechanisms still need to be strengthened, fines must increase to truly become an effective deterrent, and awareness of counterfeits among Vietnamese consumer’s needs to be raised.