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Subject : Founding of Intellectual Ventures Firm to Counter Patent Trolls   
Date 2010-03-31 Visit 3340

According to a statement made by people in the intellectual property industry on 11 March, Korea’s first intellectual ventures (IV) firm IP Cube Partners was founded. KDB Patent Business Fund No.1 formed by government’s fund of funds plans on investing its entire capital of KRW 24.5 trillion.
This firm was founded by Seung Wook Min who has acquired experience in the IV industry.
The firm purchases different ideas, inventions, and patents, and utilize them in diverse business models.
It patents unregistered ideas and inventions, and further develops certain ideas to transform them into business items or patents.
Furthermore, it creates portfolios out of patents owned by different companies in order to create powerful technologies.
For unregistered inventions, the firm conducts licensing businesses for the inventors.
It also runs ‘defensive patent purchases’ in order to prevent patent disputes.
However, it is their policy to not get involved in generating revenue by filing patent suits.
CEO Min emphasized that their goal is to protect intellectual property rights of Korean companies and to develop a system for creating greater value for the rights.
Many IP specialists are responding positively to the new company because they hope that this company will help Korean companies, research institutes, and universities protect their intellectual property rights, especially from patent trolls.
According to the Federation of Korean Industries (FKI), 90% of Korea’s main R&D investing companies such as Samsung Electronics and Hyundai Motors have responded that they have either been attacked or are in the risk of being attacked by patent trolls.
 

 

 

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