Expected Amendments according to FTA between Korea and U.S.
Korea and the United States concluded tough talks for a Free Trade Agreement (FTA) in Seoul on April 2, 2007. Therefore, required amendments to IP laws will be made until January 1, 2008. The major points of amendments to IP laws will be as follow:
1. Patent Act
1. Extension of patent term due to delayed examination
A patent term will be extended by a term as long as the delayed term due to a delay in examination after four years of the application or three years of the request for examination.
2. Abolition of cancellation of a patent
A patent will not be cancelled even if it is not worked more than three years.
3. Presumption of novelty
The term will be extended from six months to one year.
2. Trademark
1. Sound and smell mark
Sound and smell mark will be allowed.
2. Certification mark
A certification mark will be allowed.
3. Exclusive trademark license
An exclusive trademark license will be effective without any registration with KIPO.
4. Damage compensation
The minimum and maximum amount of damage compensation will be provided by the law.
3. Copyright
The term will be extended from 50 years to 70 years from the death of the copyright owner.
4. Generic Products
At the time of a Product License for a pharmaceutical product, the research system for reviewing whether or not a generic product infringes a patent for an original product will be introduced.
DATE :
13-05-18
