Samsung Fire & Marine Insurance Hosts In-House 'IP Festival' to Promote Intellectual Property Rights Activation

Samsung Fire & Marine Insurance announced on the 5th that it held the 'Intellectual Property Festival (IP Festival)' to promote intellectual property rights within the company for its employees.

This festival was planned as part of Samsung Fire & Marine Insurance's leap toward becoming a digital financial technology company. The need to activate intellectual property rights to protect digital technological innovations legally has increased.

This year marks the second time the event has been held, and the main event was the 'Patent Contest Finals.' Thanks to the enthusiastic support of Samsung Fire & Marine Insurance employees for patent applications, a total of 101 teams submitted patent ideas over a month starting in March. Among them, six teams were selected for the finals through evaluations by in-house and external patent attorneys and employees, and the presentations and award ceremony of the six teams were held at the main event.

At the finals, three examiners from the Korean Intellectual Property Office attended in person to participate in the intellectual property activation event taking place at the forefront of the financial industry. Along with a lecture on financial business model (BM) patents, a roundtable discussion was held where employees shared opinions on ways for regulatory agencies and companies to coexist and prosper.

An employee of Samsung Fire & Marine Insurance who participated in the festival said, "It was a great opportunity to understand the various concerns and efforts being made for innovation across different departments within the company," adding, "I also felt the necessity for these ideas to be legally protected through patent applications." A Samsung Fire & Marine Insurance official stated, "We will continue to make efforts to secure competitiveness in the era of digital financial technology."

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