Korean Job Discussion Forums

[sojusucks]

http://joongangdaily.joins.com/article/view.asp?aid=2915342

A Busan-based business that makes semiconductor parts was embroiled in a lawsuit last year filed by a Japanese firm, which claimed the Korean company breached certain technology patents.

The local company fought the allegation in Japanese court, but it wound up losing the case and eventually withdrew from the Japanese market.

The decision was a solid blow to the company, as its Japan business generated around 10 billion won ($9 million) in annual sales. The company, offered as an example by the government, is just one of numerous small and midsize businesses in Korea that has run into serious issues involving legal disputes by patent holders overseas.

Soon, however, these firms will get some assistance.

The Ministry of Strategy and Finance said yesterday that it will aid some local SMEs in fighting overseas patent lawsuits in an attempt to help the Korean business community reduce losses tied to such disputes. The supportive measures - which are part of policies the government is enacting to improve the business climate in Korea - include forming a legal advisory group for SMEs that find themselves at the center of patent lawsuits with overseas entities. The group will also help provide insurance against this type of legal action.

Additionally, the government hopes to nurture �invention capital� aimed at helping local companies buy and commercialize patents from colleges and research institutes. This pre-emptive measure, the ministry said, will help local companies avoid patent lawsuits in the first place.

According to a recent report by the Federation of Korean Industries, the largest business lobby group in Korea, many local firms have been sued or have faced threats of a lawsuit by so-called �patent trolls.� Patent trolls are also called non-performing entities, as they don�t actually use patents in their manufacturing operations but instead look to make money by suing other companies for breach of patent.

The FKI said there are around 220 patent trolls across the world.

[sojusucks]

The government will give money to Korean companies that get caught stealing patents to help them fight lawsuits. Is that a good thing?

[Daniel_D]

Doesn't sound like a good idea to me. However, that won't stop them from doing that.

[longsack22]

WOW... interesting read!

[GoldMember]

Korea to pay welfare benefits to fat ugly stupid dead beat women who have multiple bastard dead beat children fathered by a variety of dead beat men who have no dignity as to where they shove their shlong.
Ooops sorry thats something stupid western governments do.

Government-wasting tax payers money in a variety of different ways!

[BoholDiver]

Starpreya people. Starpreya.

[curiousaboutkorea]

[djsmnc]

[Old Gil]