Korea Launches Its Own Patent Trolling Fund

from the fascinating dept

Wed, May 16th 2007 2:00pm — Mike Masnick

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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9 Comments

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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.
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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).
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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.
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Anonymous Coward, 16 May 2007 @ 3:47pm

Why patents are good
1. File for patent
2. ???
3. Profit
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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.
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Bryan, 16 May 2007 @ 4:33pm

Re: Why patents are good
Hilarious! Because its true! From South Park, right?
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Charles Griswold, 16 May 2007 @ 7:57pm

Re: Why patents are good
1. File for patent
2. ???
3. Profit
2. Sue the living crap out of everyone and their dogs.
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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.
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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.
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