South Korean organizations, companies and startups will, likely, in the near future experience a quicker and increasingly more efficient Patent and Intellectual Property Registration System in Korea and internationally based on developments within the IP5.
Top IP officials in Korea are gearing up, in order to help South Korean organizations, companies and startups register their Intellectual Property more efficiently. It seems like the effort is a serious attempt to expedite approvals and lesson application burdens for those doing business in Korea.
IP officials from Korea, the United States, China, Japan, and the European Union (a.k.a “IP5”) recently gathered in Incheon and asserted that they shall utilize A.I. technology and other future advances to improve the worldwide Patent Application System. To accomplish this objective, IP5 consented to organize a research team, containing Patent and IT specialists from these four countries and the EU. This team will start working on an A.I. bot that can speed up the filing process.
As South Korea is the world’s fourth-biggest nation in IP registrations, Korean IP officials wish to play a larger role in this research – we expect a result from this research to come out and be implemented over the next couple of years.
The IP5 likewise consented to facilitate access to those looking for Patent Rights registrations in the United States, rather than requiring applicants to hand over technology information themselves, the IP5 officials consented to enable Patent Officials to trade relevant data with each other.
It is, always, wise to speak with an experienced Patent & IP attorney. Especially when branching outside into South Korea – a minefield of legal and business issues exist in Korea. Another article that may be of interest is an article on how to: Protect your IP in Korea.
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