Innobiz Association Takes Steps to Establish a Technology Protection Safety Net
Win-Win Cooperation Foundation and DB Insurance Join Forces
The Innobiz Association announced on the 12th that it had signed a “business agreement for protecting technological innovation and ensuring sustainable growth of Innobiz companies” with the Foundation for Large, Small & Medium Business, Agriculture and Fisheries (Win-Win Cooperation Foundation) and DB Insurance at the DB Financial Center in Gangnam-gu, Seoul, on the 8th.
The signing ceremony was attended by Kim Hongseok, Executive Director of the Innobiz Association, Bae Changwoo, Director of the Win-Win Cooperation Foundation, Choi Hyukseung, Division Head at DB Insurance, and around ten officials from each organization. They pledged to cooperate to strengthen small and medium-sized enterprises’ capabilities to respond to technology-related disputes.
On the 8th, key stakeholders are posing for a commemorative photo at the business agreement ceremony held at the DB Financial Center in Gangnam-gu, Seoul. Innoviz Association
View original imageThis agreement was established to revitalize the “technology dispute litigation insurance” promoted by the Ministry of SMEs and Startups and to alleviate the legal cost burden on small and medium-sized enterprises in the event of technology disputes.
The main areas of cooperation include: ▲ developing customized insurance products and preferential benefits for Innobiz companies, ▲ providing end-to-end support for prevention and post-response to strengthen technological protection capabilities, and ▲ jointly promoting litigation insurance and expanding partnerships.
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Kim Hongseok, Executive Director of the Innobiz Association, stated, “The core of this agreement is to provide a practical safeguard so that the innovative technologies painstakingly developed by Innobiz companies are not undermined by disputes,” and added, “We will do our utmost to create an environment where our companies can escape the threat of technology theft and focus solely on technology development and innovation.”
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