KIPO Announces New Recruitment of Private Institutions for Intellectual Property Transaction Brokerage

The Korean Intellectual Property Office (KIPO) announced on the 30th that it will jointly recruit six new 'private cooperative trading institutions' to mediate intellectual property transactions with the Intellectual Property Exchange from the 31st of this month to the 13th of next month.

The recruitment targets are corporate or individual business operators capable of performing intellectual property transaction tasks. Trading institutions wishing to participate can apply via the official email of the Intellectual Property Exchange during the recruitment period. Detailed business announcements can be found on the notice board of the Intellectual Property Exchange of the Korea Invention Promotion Association.

Provided by the Korean Intellectual Property Office

Once designated as a private cooperative trading institution, for three years, they will jointly carry out the entire process of intellectual property transactions and mediation with intellectual property transaction specialists (experts affiliated with the Intellectual Property Exchange of the Korea Invention Promotion Association), receiving experience and know-how at each transaction stage.

Typically, intellectual property transactions and mediation proceed in the order of 'consultation with companies wishing to trade intellectual property → discovery and matching of supply intellectual property → mediation negotiation → contract signing → follow-up research and development (R&D) and commercialization support.'

Private cooperative trading institutions will share brokerage fee income generated from joint mediation according to their contribution. Additionally, as intellectual property trading institutions recognized for their credibility in the intellectual property transaction field, they will be provided with promotion through the online intellectual property trading platform (IP-Market) and consultation reception from demand companies.

Since 2020, KIPO has designated intellectual property and technology trading institutions that meet certain criteria each year as 'private cooperative trading institutions.' As of this month, a total of 30 institutions have been designated as private cooperative trading institutions and have received support through the 'Private Trading Specialized Institution Development Program.'

Kim Jeong-gyun, Director of the Industrial Property Policy Bureau at KIPO, said, "The importance of 'open innovation,' where companies acquire excellent external technologies and promote commercialization, is increasing recently. KIPO will continue to provide policy support to foster a private-led intellectual property trading market."