The Korea Patent Attorneys Association will share approaches to intellectual property (IP) finance and the use of intangible assets with the Japan Patent Office and the Japan Patent Attorneys Association, and expand related cooperation.
The Korea Patent Attorneys Association said on the 10th that it visited Japan and met with officials from the Japan Patent Office and the Japan Patent Attorneys Association to discuss IP finance and ways to use the value of intellectual property.
Both sides agreed that, as Korea and Japan have enhanced industrial competitiveness based on research and development and patent creation, it is important to have an institutional foundation that connects patents to actual investment and commercialization.
The Korea Patent Attorneys Association said Japan, in particular, has developed systems that link and use corporations' intangible assets—such as patents, technologies, brands, and know-how—to corporate value. It is a method for corporations to present to investors their strategies for using owned intellectual property and their future business competitiveness.
The Japan Patent Office is also supporting not only the assessment of the asset value of patent rights, but also the analysis of corporations' technology and brand competitiveness so it can be used in IP finance and management.
The Korea Patent Attorneys Association plans to review Japan's related policies and valuation techniques and examine ways to apply them to domestic conditions.
Jeon Jong-hak, president of the Korea Patent Attorneys Association, said, "We will help expand the institutional and market foundations that allow intellectual property to be connected to investment and commercialization by corporations."