1. KIPO concluded an MOU to expand the Korea-UAE patent examination execution range
The protection of K-brand goods is strengthened in the United Arab Emirates (UAE) and the Republic of Korea do the 100% execution of examination of patent applications filed in UAE.
The Commissioner of the Korea Intellectual Property Office (KIPO) and the vice Minister of Economy concluded an MOU to expand a Korea-UAE patent examination execution range and to strengthen cooperation of intellectual property (IP) protection in Dubai.
The two agreed to expand the UAE patent examination range previously focused on examination of a new application to the entire area covering middle and final examinations.
This means that Korea participates in the whole process of the UAE patent examination and it is considered as a result of the UAE’s trust on the Korean patent administrative level that has been shown during the patent examination cooperation process.
2. KIPO and MSS jointly carry forward an IP-R&D support on the common core technology in five (5) areas including hydrogen industry, carbon composite materials, etc.
KIPO and the Ministry of SMEs and Startups (MSS) together start strengthening patent competitiveness of startup companies.
The support for individual patent strategies is expanded to a group of startup companies classified by the fields in the Center for Creative Economy and Innovation.
KIPO provides ‘patent-based R&D strategies’ necessary to startups and the Ministry of SMEs and Startups (MSS) operatively supports R&D funds.
An ‘IP-R&D’ on common core technology for a business group is newly carried forward from this year, to draw patent strategies of new technology and difficult technology that a number of companies commonly need, to be shared and spread.
The ‘IP-R&D’ analyzes the core patents by fields which small and medium companies and venture companies need to know, and which are helpful to those companies that have started technical developments without properly understanding the relevant patents due to a lack of manpower and funds.
3. KIPO set up an IP investment fund of 220 billion Korea Won
According to KIPO, this year it will raise the IP investment fund of 220 billion Korea Won as a part of creating a ‘Second Venture Boom’, to expand the investment for small and medium companies and venture companies having excellent patents.
To raise the fund, an investment of 110 billion Korea Won (fund of funds of 60 billion Korea Won and growth ladder fund of 50 billion Korea Won) is made in the public sector and the same amount is made in the private sector to prepare a total of 220 billion Korea Won.
Specially, this year KIPO and the Korea Growth Finance jointly raise the technology financing fund to strengthen the connection of policy funds and to grow the scale of the fund by more than two times compared with last year to intensively support for small and medium companies and venture companies to secure their foreign patents.
The funds raised this year are in a total of four (4) fields: patent commercialization (125 billion Korea Won), IP creation and protection (50 billion Korea Won) IP securitization (30 billion Korea Won) and IP-based startup raising (12 billion Korea Won).
4. KIPO starts receiving ideas for 2019 Living Invention Korea
KIPO announced to carry forward ‘2019 Living Invention Korea’, to support women’s business and job creation through inventions.
The Living Invention Korea is a project to contest and select women’s ideas for marketable living products and to provide customized supports required for filing an IP application and for producing test products and commercialization consultation at the beginning of invention startup.
A lot of women including not only ordinary women but also career interrupted women and North Korean escapees have achieved success in startup through the Living Invention Korea which is the sixth this year.
Received ideas are examined focus on whether or not it is possible to develop the ideas as daily supplies, the merchantability and marketability. of a selected idea through examination supports in providing an expert’s mentoring, filing an IP application, developing a design and producing a test product. of the selected idea supports in developing a design, producing a test product and consulting on commercialization.