Friday, May 18, 2007

Korean Financing Co. Launches IP Enforcement Fund to LItigate Overseas

Korean newspaper is reporting that a new private fund has been launched to protect Korean intellectual property rights (IPR) overseas.

The "CJ Veritas Intellectual Rights Fund," managed by CJ Asset Management, will operate by filing lawsuits against foreign companies accused of infringing Korean trademarks and patents.
The fund reportedly has a war chest of $16 million (US) with which to finance future litigation.

Also, the fund apparently has partnered with the Korean Ministry of Science and Technology, and will act as a proxy in filing international suits against foreign companies. The fund and the Ministry will allegedly split royalties on a 50/50 basis. So far, the research institute has handed over to the fund the rights to five wireless technology patents that it believes are being unfairly used overseas. Lawsuits are reportedly pending.

CJ Asset Management will release a second patent fund in the first half of this year. It's also considering releasing a publicly-subscribed fund as well.

Read article here.

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