Korea SMEs and Startups Agency Develops 'Standard Joint Technology Development, Confidentiality, and Purchase Agreement'

Headquarters of the Korea Federation of SMEs

[Asia Economy Reporter Kim Daeseop] The Korea Federation of Small and Medium Business (Kbiz) announced on the 22nd that it has developed a 'Standard Joint Technology Development, Confidentiality, and Purchase Agreement.'

This standard contract was created to respond to the increasing demand for joint technology development driven by the 4th Industrial Revolution and the localization of materials, parts, and equipment, as well as to prevent technology leakage from small and medium enterprises (SMEs).

The standard contract is a research outcome related to the amendment of the Win-Win Cooperation Act, which Kbiz is requesting the National Assembly to pass, and it is also the first research result in the field of fair economy from the recently established 'KBIZ SME Research Institute' last month.

The institute included confidentiality clauses to prevent technology leakage during joint technology development and purchase clauses to actively utilize the outcomes in the contract, based on prior research reviews and case analyses. Explanations for each clause were also added to ensure SMEs can clearly understand them.

Regarding clauses that could cause disputes, such as cost burden, information exchange, and ownership of outcomes, legal experts and SMEs with technology development experience were consulted to enhance the completeness and usability of the contract.

SMEs wishing to use the standard contract can download it from the websites of Kbiz and the Korea Youth Entrepreneurship Foundation.

Seo Seungwon, Executive Vice President of Kbiz, said, "We hope that through the standard joint technology development, confidentiality, and purchase agreement, SMEs can proceed with joint technology development with peace of mind."

This content was produced with the assistance of AI translation services.