KDB and IBK partner on intellectual property fund
NPE companies profit from licensing patents or suing others for patent violations, rather than using patents to create new products.
According to the KDB on Monday, KDB Infra IP Capital is the only fund backed by the state-run bank that will invest in actual intellectual properties. Other similar funds invest in companies that handle the properties.
“Last year, Korea ranked fourth in the world when it came to patent applications,” KDB said in a statement. “However, the trade account related to intellectual property suffered a deficit of $6.2 billion because it can’t profit from the intellectual property rights or use them in its financial products.
“Korea became a major target for global companies, as last year alone, American NPE companies have filed 244 patent suits against Korean companies.”
KDB said the fund will find and invest in various institutions with outstanding intellectual properties, purchasing those properties and licensing them to other companies.
The fund will also be used to financially support Korean companies faced with overseas patent lawsuits.
“We will be taking the role of a patent-investing financial company that will contribute to invigorating local technology financing while protecting Korean companies from global lawsuits,” said a KDB official.
BY LEE HO-JEONG [email@example.com]
More in Industry
Big business recoils at new legal legislation
Hyundai Mobis has developed a hydrogen-powered forklift
Asiana adapts passenger plane to carry more cargo
Eastar Jet CEO threatens to sue pilot union for libel