KIPO Designates 11 Additional Institutions for Intellectual Property Valuation

The Korean Intellectual Property Office (KIPO) has designated 11 additional institutions as intellectual property valuation agencies.

On the 13th, KIPO announced that it will designate additional intellectual property valuation agencies to promote the activation of intellectual property finance as a means of funding for innovative companies.

Valuation agencies are specialized institutions that assess the economic value of intellectual property such as patents. With the additional designations, the number of valuation agencies will increase from the previous 22 institutions (8 public and 14 private) to 33 institutions (8 public and 25 private).

The list of newly designated valuation agencies includes two banks, Shinhan Bank Co., Ltd. and Hana Bank Co., Ltd., as well as nine patent firms: Sigong, RPM, Youngbee, Haean, Korea Small and Medium Business Technology Innovation Association, Lydim Group Co., Ltd., JD Research Co., Ltd., Korea Technology Credit Rating Co., Ltd., and Korea Patent Valuation Co., Ltd.

Intellectual property valuation is mainly used in intellectual property finance such as loans and investments based on the value of intellectual property. In particular, there has been ongoing demand from the field to expand valuation agencies for inventions and the like in line with the recent increase in demand for intellectual property finance activation. The scale of intellectual property finance grew from 6 trillion won in 2021 to 7.8 trillion won in 2022.

Mok Seong-ho, Director of the Industrial Property Policy Bureau at KIPO, said, “The role of valuation agencies is important to properly evaluate and utilize the value of intellectual property,” adding, “As the number of valuation agencies for inventions and others has greatly expanded mainly in the private sector, KIPO will support new valuation agencies to establish themselves in the market.”

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