Intellectual Property transactions are made for the following many reasons.
First, when a manufactured product infringes another party’s patent rights, the manufacturer should either buy the patent in question or make a contract for the use of its rights (licensing).
Also, those entering a new area of business often choose to purchase patents pertaining to the related product or service.
Korea has a government institution that provides a forum for technology transactions because it is very difficult for the layperson to determine the effectiveness of a patent or the scope of an invention. (link for technology transaction site. http://www.patentmart.or.kr/index.jsp) Furthermore, some situations call for the transaction of patent rights together with technology transfer.
For such transactions, we recommend that you seek the expertise of a patent attorney. Please feel free to call anytime to arrange an appointment for consultation.
Forms of IP transactions include transfer of patent or trademark rights via sales of rights, and rights can be either exclusive rights that come into effect when patent rights are registered in the patent register so as to grant the licensee rights to exclusively work the invention, and nonexclusive rights that are not registered in the patent register so as to allow multiple licensees to work the invention.