"IP Transactions? Harder Than Blind Dates" Patent Attorney Who Transferred 22.8 Billion KRW Worth of Technology [Valuable Intellectual Property]

Juyeon Kim, CEO of Between Partners
Specializing in Bio and Pharmaceutical Technology Transfer
Bridging Researchers and Companies

"It started with the hope that technologies that generate profit in the market would be recognized as patents. It is important to create a virtuous cycle where patents diligently developed by researchers are actually used in business. Connecting both sides is even more difficult than arranging a matchmaking meeting."

Kim Ju-yeon, a patent attorney and CEO of Between Partners (45th class), who has achieved technology transfers worth 22.8 billion KRW over the past three years, received the Commissioner of the Korean Intellectual Property Office Award last month as the "Intellectual Property Brokerage Expert of the Year."

Juyeon Kim, CEO and patent attorney of Between Partners, is an expert in intellectual property (IP) transaction brokerage. She has connected universities, research institutes, and companies, achieving technology transfer results worth 22.8 billion KRW over the past three years. In recognition of these achievements, she recently received a commendation from the Commissioner of the Korean Intellectual Property Office as the 'IP Brokerage Expert of the Year.'

According to statistics from the Ministry of Trade, Industry and Energy on the 30th, the number of technology transfer contracts from public research institutions is around 9,000 annually. Specializing in the bio and pharmaceutical fields, Attorney Kim acts as a bridge between researchers conducting research and development (R&D) and companies that need their technologies. She said, "It was heartbreaking to see the R&D results, which contained the sweat and tears of researchers, go to waste. I hoped that technologies protected by patents would enter the market and be helpful in business."

In the early stages of small-scale bio and pharmaceutical research, there is a lack of time and funds for clinical trials. Small and venture companies purchase early-stage patents developed in research institutes, develop them further, and if they succeed in clinical phases 1 and 2, they can sell them to large or global companies, allowing the technology to be reborn as blockbuster-level technology. Another attraction of IP transactions is that if the technology is well utilized in the market, researchers can continuously earn income through patent licensing.

However, reality was not easy. It is not simple to coordinate the positions of both sides and buy and sell technology at an appropriate price.

"First of all, persuading researchers whose expectations are sky-high is the hardest part (laughs). There is an optimal timing for technology transfer, and if that is missed, the value decreases. I remind them of this. Sometimes, like in matchmaking, even if I arrange a meeting thinking the two parties would really get along well, both sides end up feeling upset."

She also recalled times when technologies that worked smoothly in university labs caused difficulties when companies tried to verify and implement them. It was common for contract discussions to drag on for over a year and then fall through. When multiple companies wanted to buy good technology, it was also her responsibility to judge which choice would be most effective.

As her experience in IP transactions grew over the years, she built a wide network, and naturally, word of mouth spread, earning her the title of brokerage expert. Between Partners has been active as a private transaction agency since 2020, when the Korean Intellectual Property Office first operated such agencies, and now there are 30 private transaction agencies.

However, she believes the domestic IP transaction market still has a long way to go. She said that earning profits solely from IP transaction brokerage is insufficient to pay employees' salaries. "In the U.S., there is a retainer system, so even if a transaction does not succeed, the broker earns income," she explained. "In Korea, there is no standard contract, so it is difficult even to decide how much brokerage fees should be set."

Recently, Attorney Kim is developing an artificial intelligence (AI) solution that easily connects those who want to buy and sell technology. She said, "I want to use AI systems to help ensure that the patent system functions properly according to its original purpose."