Revision of Korean Invention Promotion Act regarding employee inventions
The Korean act was revised on July 30, 2013, takes effect on January 31, 2014 and comprises provisions regarding employee inventions (on the attribution of an employee invention by the employer, on the provisions regarding compensation of employee inventions, on how to calculate this compensation, and on the setting up of a committee for deliberation on employee inventions).
Thus, in case you have research and development activities in Korea, we recommend that you establish employee regulations, or in case regulations already exist, that you amend it if required, before January 2014.
Please feel free to contact Lavoix in case you need more information.
Publication date : November 2013