Source: KIPO
Date: 2013. 8. 14
- Support guarantee for intellectual property - worth up to KRW 300 billion -
The Korea Credit Guarantee Fund’s (KODIT) intellectual property guarantee, providing guarantees of up to KRW 1 billion to business startups and small and medium enterprises (SMEs) based on their intellectual property (IP), will be fully operational from this month.
The Korean Intellectual Property Office (KIPO, Commissioner Kim Young-min) and KODIT (CEO Ahn Taik-soo) signed a “Working Agreement for Vitalizing IP Financial Support”, to provide IP-based guarantees at the KODIT headquarters, in Seoul on August 6.
Under the agreement, KIPO is to support the cost of evaluating the value of IPs held by business startups and SMEs, while KODIT is to guarantee the results of the IP evaluations in order for companies to procure funds for commercializing their IP rights (IPRs), including patents. Around KRW 300 billion is to be provided in guaranteed support. KODIT plans to increase the budget further depending on the success of the program.
The IP-based guarantee is not designed to set differential guarantee ceilings based on companies’ sales records, but to provide a guaranteed ceiling of KRW 1 billion, according to the results of the evaluation of IPRs held by the companies, so that those possessing excellent IP rights benefit most.
KIPO also signed a memorandum of understanding with the Korea Development Bank in March for “IP-based security loans”, linking IP right evaluation results to the process of securing loans from banks.
“The agreement is expected to make it easier for companies with excellent IPRs to procure funds,” KIPO Commissioner Kim Young-min said. “We will actively support this to help increase IP-based financing in Korea.”
DATE :
13-08-19
