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.
Hide this

Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.

Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.

While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.

–The Techdirt Team


Reader Comments

Subscribe: RSS

View by: Time | Thread


  • identicon
    Sanguine Dream, 16 May 2007 @ 2:06pm

    So...

    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.

    link to this | view in chronology ]

    • identicon
      discojohnson, 16 May 2007 @ 3:19pm

      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).

      link to this | view in chronology ]

      • identicon
        Sean Pencilly, 16 May 2007 @ 3:46pm

        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.

        link to this | view in chronology ]

        • identicon
          discojohnson, 21 May 2007 @ 7:36am

          Re: Re: Re: So...

          By your logic, then there can only ever be one type of glue, one type of engine, one type of soda, one tv...see where this is going? Great thought process, Sean; better to keep your mouth shut and let people think you're an idiot.

          link to this | view in chronology ]

  • identicon
    Anonymous Coward, 16 May 2007 @ 3:47pm

    Why patents are good

    1. File for patent
    2. ???
    3. Profit

    link to this | view in chronology ]

  • identicon
    jinni, 16 May 2007 @ 4:06pm

    South Korea is the developing country, not the developed country. We have a few patent compared to any other leading country, such as the U.S.

    In addition, the government-backed patent trolling organization violate the law related to trade.

    I was wondering the role of the organization.

    link to this | view in chronology ]

  • identicon
    Dram Man, 16 May 2007 @ 9:07pm

    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.

    link to this | view in chronology ]


Follow Techdirt
Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Discord

The latest chatter on the Techdirt Insider Discord channel...

Loading...
Recent Stories

This site, like most other sites on the web, uses cookies. For more information, see our privacy policy. Got it
Close

Email This

This feature is only available to registered users. Register or sign in to use it.