25 Out of 55 Patents Successfully Transferred
Expanding the Program Through Cooperation with Suwon and Busan Rehabilitation Courts
The Technology Credit Guarantee Fund announced on November 14 that it will significantly expand its “Bankrupt Companies’ Patent Sale Program” to prevent valuable patented technologies owned by bankrupt companies from being wasted and to broaden opportunities for small and medium-sized enterprises (SMEs) to acquire new technologies.
This program, launched in February, aims to preserve the value of technological assets and support the swift progress of bankruptcy proceedings by connecting outstanding patents held by bankrupt companies with new potential users. To this end, the Fund receives mandates from rehabilitation courts to sell patents and facilitates the discovery of interested companies and technology transfer brokerage through its technology transaction platform, Smart Tech Bridge.
This year, in cooperation with the Seoul Rehabilitation Court, the Fund conducted two rounds of patent sales, including a pilot project, and successfully transferred 25 out of 55 patents that were at risk of expiration. This initiative has expanded open innovation opportunities for SMEs and increased the repayment pool for bankruptcy creditors.
The Fund plans to expand its cooperation to include the Suwon and Busan Rehabilitation Courts. Additionally, it aims to enhance operational efficiency through measures such as directly collecting patents for sale, clarifying selection criteria for sale targets, strengthening fairness by introducing an open competitive bidding process, and reducing brokerage fees from 15 to 10 percentage points.
Lee Sangchang, Executive Director of the Fund, stated, “Going forward, we will continue to strengthen cooperation with rehabilitation courts centered on Smart Tech Bridge, and make ongoing efforts to vitalize the technology transaction market and foster a robust technology commercialization ecosystem.”
Meanwhile, the Fund is currently announcing the “3rd Bankrupt Companies’ Patent Sale Program” and is working to sell a total of 68 patents. Companies wishing to purchase patents can apply until November 27, and further details are available on the Smart Tech Bridge website.
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