Venture Industry: "Patent Infringement Lawsuit Efficiency Must Be Improved... Joint Representation by Patent Attorneys"

Venture Association and Patent Office Hold On-Site Discussion Meeting
"Strengthening Cooperation for Intellectual Property Protection and Utilization"
Patent Office "Seeking Amendments... Consulting with Ministry of Justice and Others"

Seong Sang-yeop, Chairman of the Korea Venture Business Association, is speaking at the 'Venture Business Intellectual Property Meeting' held on the 2nd.

The venture business sector has urged the prompt introduction of the 'Attorney-Patent Attorney Joint Representation System' to enhance efficiency in patent infringement lawsuits involving venture companies.

The Venture Business Association and the Korean Intellectual Property Office (KIPO) held a meeting on the 2nd at the Venture Business Association's main conference room to discuss strengthening the protection of intellectual property rights for venture companies and to address on-site difficulties.

At the meeting, participating venture companies proposed ▲ the participation of patent attorneys in patent infringement lawsuits to improve the efficiency of intellectual property litigation procedures ▲ patent registration methods utilizing artificial intelligence ▲ strengthening policies to foster intellectual property-based venture companies ▲ and establishing financial support measures for venture companies' IP utilization.

In particular, they urged the prompt introduction of the 'Attorney-Patent Attorney Joint Representation System' to enhance efficiency in patent infringement lawsuits involving venture companies. Currently, the 'Patent Attorney Act Amendment Bill,' which allows patent attorneys to jointly represent clients with attorneys in civil lawsuits related to patents, has been pending for a long time at the National Assembly's Legislation and Judiciary Committee.

The Korean Intellectual Property Office stated, "We are seeking amendments that can address the concerns of the legal community and are continuously consulting with the Ministry of Justice and the courts. We will do our best to ensure the swift and efficient resolution of patent disputes for venture companies."

Sung Sang-yeop, president of the Venture Business Association, emphasized, "For the innovative growth of venture companies, technology development and acquisition of intellectual property rights are the most powerful weapons. Creating an ecosystem where such intellectual property rights can be systematically protected is of utmost importance."

He added, "We will strengthen cooperation with the Korean Intellectual Property Office to protect and utilize the intellectual property rights of venture companies."