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MSIP and KIPO to help turn people’s creative ideas into profitable patents

2013/10/09

  • Ms. A, a working mother with a four-year-old child wondered if there was another way for tired mothers to read books to their children after a long day at work. It was then that she came up with the idea of a book reading robot.
  • Ms. A proposed this idea to the Ministry of Science, ICT and Future Planning and the ministry and the Korean Intellectual Property Office supported her in turning her idea into a product and gaining a patent for it.                           
  • Later, Ms. A licensed the patent for the robot to Company S, who were then able to produce and distribute the product, giving Ms. A a portion of the sales profits in royalties. She has received significant profits and is considering obtaining a loan using the patent as collateral to start her own business.


The Ministry of Science, ICT and Future Planning (Minister Mun-kee Choi) and the Korean Intellectual Property Office (KIPO, Commissioner Young-min Kim) signed a working agreement, announced on Wednesday 11 September, that aims at turning creative ideas into intellectual properties (IP), leading to the creation of business start-ups and commercialization.


During the signing ceremony held at the Korea IP Center, Minister Mun-kee Choi and Commissioner Young-min Kim discussed measures and tasks for future cooperation with the participation of officers from the Korea Foundation for the Advancement of Science and Creativity, the Korea Invention Promotion Association, and other related organizations.


Under the agreement, the cooperation between the two organizations will enable Koreans with creative ideas, unique technologies or inventions gained through daily life or in business start-ups to easily and conveniently acquire IP rights (IPRs).


For example, if a person proposes an idea to the ministry, KIPO will link it to its IP-Based Happy People Technology Project in order to support the acquisition of an IPR and turn the idea into a product of service.


Plans to protect ideas from leaks and theft are also expected to emerge from the agreement.


The agreement is also designed to boost the overall quality of patents for greater efficiency in national research and development.


Both organizations plan to prepare a broad infrastructure to evaluate, manage, and use patents acquired during research and development in order to raise the overall quality of IPRs.


KIPO will also build a detailed patent information system for the ministry to actively use in all stages of research and development projects.


(Source: KIPO)




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