A Study on Patent Trust System in Korea

Abstract

<span style="font-size:11.0pt;font-family: " times="" new="" roman","serif";mso-fareast-font-family:"times="" roman";mso-bidi-font-family:="" mangal;mso-ansi-language:en-gb;mso-fareast-language:en-us;mso-bidi-language:="" hi"="" lang="EN-GB">With the importance of intellectual property rights, utilization of IP is the key strategy at both firm level and national level. Patent trust system is the system to manage and utilize the intellectual property rights produced by public sector in Korea. In this study, patent trust system and its contribution to vitalize intellectual property right minimizing unused patents is being analysed. In order to fulfill research aims, the numerous Acts and Regulations including both domestics and foreign were used. From the findings, this study suggests that the top priority in revitalization of patent trust system should be the procurement of excellent patent. The trust agencies must procure patents that consumer corporations need. The second concern is the introduction of a patent royalty trust and insurance system. Also, patent portfolio auction needs to be introduced. Finally, patent portfolio auction needs to be introduced for vitalization of patent trust system in Korea.</span>