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.