Korea Launches Its Own Patent Trolling Fund

from the fascinating dept

Just last week, we were talking about how the new US “free trade” agreement with South Korea wasn’t really as “free” as you might expect — since it also forced South Korea to adopt US-style intellectual property regulations — which are the opposite of free trade, since they’re all about guaranteeing monopolies. However, it appears South Korea has decided that if it must embrace US-style intellectual property laws, it might as well go all the way in its support. Against Monopoly points us to the news that the South Korean government apparently is funding something of a government-backed patent trolling organization that will go out and sue companies around the globe that appear to violate the patents of South Korean companies, such as Samsung and LG. As John Bennett at Against Monopoly notes, the South Korean government appears to believe this will help them fight typical patent trolling organizations — though, it does seem like only a subtle shift away from patent trolling itself. Once again, though, as you read through the article, you’ll notice that the focus is entirely on using patents to squeeze money out of companies, not about using patents to actually create new and useful products.

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Comments on “Korea Launches Its Own Patent Trolling Fund”

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Sanguine Dream says:


before the US government (and big business for that matter) can prove to the American public how patents encourage innovation they are already trying to force other countries to follow suit.

I’m only an average guy (meaning I’m not a known figure in the tech world) but I have yet to hear one explaination, even a weak one, in favor of the notion that patents encourage innovation.

discojohnson says:

Re: So...

uh oh, a challenge, Mike. best i can come up with in 30 seconds is: person A sees that we need a polymer to bond certain metals to other metals. person A spends weeks in the lab coming up with it. the invention is born and s/he now knows s/he’ll be rich because people would rather glue something than use screws (potentially). s/he saw the need for something, did it, and now can retire. the world is better for it because now we have this specific polymer. now when the patent is sold to 3M, no one else can use this specific formula, but folks will imitate it (as how it’s done is published in the patent form) and make generics, driving down the costs (good for consumers). win for the inventor, win for the consumer, and win for the retailer (they now can sell another product to make money).

Sean Pencilly says:

Re: Re: So...

So Disco, you’re idea of innovation is the manipulation of the same idea presented by someone else?

That could have quite possibly been the poorest excuse for an analogy that I have ever bared witness to.

Either that or you’re just dumb.

The jury is still out on that one.

Dram Man (user link) says:

Read the thing before you open your pie-hole

Technicaly its a private comany, in this case CJ Asset Management, helping a govrenment instutute enforce its patents. Its not exactly a Korean govrenmnet funded effort. It would be akin to, say, the Blackstone Captial group offering to fund a defense of patents for Lawernce Livermore Labs.

Nor will it benefit Samsung and LG. However it is interesting how the article studiously avoids mentioning the two companies as possible targets.

No doubt however by its own implication a troll fund.

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