MN_CONLAW
Invention Promotion Act
Summary
| Type | Basic Laws |
|---|---|
| Genre | New Technologies |
Detail
- Enactment Date: 1994. 03. 24
- Last Amendment: 2024. 02. 06
Table of Contents
- CHAPTER I GENERAL PROVISIONS
- CHAPTER II PROMOTION OF INVENTION
- CHAPTER III SUPPORT FOR SECURING RIGHTS TO INVENTIONS
- CHAPTER IV FACILITATING COMMERCIALIZATION OF INVENTIONS
- CHAPTER IV-2 FOSTERING OF INDUSTRIAL PROPERTY RIGHTS SERVICE BUSINESS
- CHAPTER V MEDIATION OF DISPUTES OVER INDUSTRIAL PROPERTY RIGHTS AND FACILITATION OF SHARING OF TECHNOLOGY
- CHAPTER VI KOREA INVENTION PROMOTION ASSOCIATION
- CHAPTER VI-2 KOREA INTELLECTUAL PROPERTY PROTECTION AGENCY
- CHAPTER VI-3 KOREA INTELLECTUAL PROPERTY STRATEGY AGENCY
- CHAPTER VII SUPPLEMENTARY PROVISIONS
- CHAPTER VIII PENALTY PROVISIONS
Summary
The Invention Promotion Act of Korea aims to enhance the technical competitiveness of industries and contribute to the national economy by encouraging inventions and ensuring the efficient securing and commercialization of invention rights. The Act provides definitions for key terms such as "invention," "employee’s invention," and "industrial property rights." It mandates the government to establish and enforce a comprehensive policy each year to promote invention, including raising public awareness, securing rights to inventions, and facilitating their commercialization. The Act also allows for the granting of subsidies to inventors and organizations engaged in invention research or promotion. Additionally, May 19 is designated as Invention Day to emphasize the importance of inventions and stimulate public interest. Oversight and implementation details are prescribed by Presidential Decree.
Source
Korean Law Information Center, Invention Promotion Act, 2024/10/24
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