Kibo Introduces Immediate Loans for Intellectual Property Mutual Aid Projects

Instant Loan Available for Dispute Costs

The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 20th that, together with the Korean Intellectual Property Office, it is implementing the 'Intellectual Property Mutual Aid Dispute Cost Immediate Loan System,' which allows members of the Intellectual Property Mutual Aid to receive loans for patent attorney and lawyer fees immediately when intellectual property-related disputes arise.

The Intellectual Property Mutual Aid is a financial system for intellectual property introduced domestically for the first time in August 2019 by Kibo in collaboration with the Korean Intellectual Property Office to alleviate the burden of intellectual property costs and dispute risks for small and medium-sized enterprises (SMEs) and mid-sized companies and to support overseas expansion. Until now, members had to pay premiums for more than six months after joining the Intellectual Property Mutual Aid to be eligible for loans related to intellectual property costs. With the introduction of the 'Immediate Loan for Dispute Costs' system, members can now receive loans immediately when intellectual property-related disputes such as trials or lawsuits occur.

The reasons eligible for immediate loans are limited to costs related to intellectual property rights trials, reexaminations, cancellation lawsuits, intellectual property infringement lawsuits, technology theft, and trade secret disputes, and loans can be provided up to three times the amount of premiums paid. Additionally, support is available for intellectual property disputes that occurred within six months prior to joining the mutual aid, minimizing the financial risk for companies facing intellectual property-related disputes.

Kim Jong-ho, Chairman of Kibo, stated, "Kibo's Intellectual Property Mutual Aid project has contributed to reducing the risks faced by companies struggling with intellectual property-related disputes and strengthening the technological competitiveness of SMEs and mid-sized companies through preferential benefits linked with the Korean Intellectual Property Office." He added, "Kibo will continue to discover benefits needed by companies and take the lead in supporting the overseas expansion and intellectual property protection of technology companies."

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