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Subject : LG Group to Enhance Patent Management   
Date 2010-05-28 Visit 3211

South Korea’s LG Group, in an effort to response to paten disputes at home and abroad as well as to make profits by securing core intellectual property rights of future growth engines, is aiming for its management focusing on patents. To enhance competitiveness of its patents, in particular, executive officers of LG group’s affiliates have gathered to form the LG patent committee. Furthermore, LG will increase over 30% of the human resources to work on patent related projects.

LG group, after establishing LG’s patent committee dealing with strategies on patents of all the business units within the group, has announced its three major tasks to reinforce the competitiveness of its patents. The three major tasks include strengthening cooperation between the affiliated companies, securing core patents and improving competency of patent related organization.

The committee will be composed of executive officers in charge of patent related projects and research advisors from eight of its affiliates such as LG Electronics, LG Display, LG Chem and LG Life Sciences.

LG’s patent committee will not only map out the overall strategies on patents of all the business units in the group, but also to focus on securing joint patents among its affiliated companies at the research and development (R&D) level. LG’s effort for establishing the committee can be interpreted that increasing number of cooperation is needed in R&D between its affiliates in areas such as light-emitting diode (LED) and organic light emitting diode (OLED).

LG Group, through the committee, will be able to reduce costs by adjusting the terms and conditions of contracts with regard to patent uses between its affiliates. Moreover, the group will actively seek ways to hold patents on the original technologies related to future growth engine businesses.

LG Group has also selected three tasks to become the top global company in terms of patent. One of the three tasks, for example, is to working on improving competency of the organization related to patents. To do this, LG will increase the human resources working on patent related projects by 30% to 370, which now stands at 280. In addition, it will establish centers for patents overseas in four regions such as the U.S., China, Japan and Europe.

 

 

 

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