Case Studies
[Consultation] Korea Data Industry Support Project, Data Voucher Support Project Legal Consultation by Law firm Veat
Law firm Veat prepared a legal review confirmation letter at the request of Company A, which seeks to be selected as a supplier company (data sales, processing company) for the Data Voucher Support Project, to certify that the data Company A plans to distribute does not violate current laws such as copyright infringement and the Personal Information Protection Act. The Data Voucher Support Project is a program that organically links each stage of data construction, processing, and distribution, and expands transactions through data purchase and processing, to create a vibrant ecosystem for the data & AI industry and to support data purchase & processing vouchers for small and medium-sized enterprises, venture companies, small business owners, and one-person creative enterprises who are experiencing difficulties in utilizing data. A supplier company for the Data Voucher Project can receive data vouchers from companies that have received data vouchers and sell data or provide data processing services. Law firm Veat prepared a legal review confirmation letter at the request of Company A, a data sales company, and thoroughly reviewed whether the data products held by Company A were collected and processed in compliance with copyright law, the Personal Information Protection Act, etc., and also provided legal advice on future data processing. If you need the help of a legal expert regarding the Data Voucher Support Project, please contact Law firm Veat via the following path. Thank you. Law firm Veat
[Consultation] Law firm Veat Bitcoin unjust profit recovery legal consultation
Law firm Veat provided legal advice to A Virtual Currency Exchange (hereinafter referred to as “A Company”) regarding the claim for recovery of unjust enrichment of Veat. A Company confirmed that a member had withdrawn Veat that was erroneously paid to the member due to a system error, and instead of returning the Veat to A Company, the member sold it and withdrew it in Korean Won. A Company inquired with Veat as to what legal actions could be taken. In response, Veat provided legal advice that Veat, a digital cryptocurrency, has been recognized by our courts as an intangible property with economic value (Supreme Court Ruling 2018. 5. 30, 2018도3619판결), is subject to confiscation and that a civil claim for recovery of unjust enrichment is also possible. According to Article 741 of the Civil Law (Content of Unjust Enrichment), a person who obtains profit through the property or labor of another without a legal reason and thereby causes damage to another shall return the profit. Recently, an actual case occurred that is similar to the inquiry made by A Company, and on May 31, 2019, the Seoul Central District Court issued a ruling that the member who unjustly obtained Veat in Korean Won should return the amount of unjust enrichment, consistent with the direction Veat had advised. Virtual currency exchange B filed a lawsuit against Mr. Kim OO (pseudonym) for the recovery of unjust enrichment for the Korean Won obtained by Mr. Kim selling Veat that was erroneously paid to him due to a system error and not reporting it to B. On May 31, 2019, the Seoul Central District Court ruled that what Mr. Kim obtained constituted unjust enrichment under the Civil Law and that he should return the amount equivalent to the disposal amount to B. (View related article). Law firm Veat is leading the cryptocurrency legal market with leading domestic partners who lead the market in the cryptocurrency industry and provides excellent legal advisory services so that clients can overcome the uncertainties of the cryptocurrency business environment. If you need legal review related to cryptocurrency and blockchain, please inquire through the following path. Thank you. Law firm Veat
[Consulting] Legal advice on asset management methods for venture capital fund specializing in startup and venture with management participation
Law firm Veat (hereinafter "Veat") has received inquiries regarding the method of managing surplus assets of a startup/venture specialized management participation type private equity fund (hereinafter "startup/venture PEF") as defined in the 「Act on Capital Markets and Financial Investment」 (hereinafter "Capital Market Act") and has provided legal advice accordingly. In the case of a startup/venture PEF, it must invest more than 50% of the invested amount in startup/venture companies, etc., in accordance with the Capital Market Act and its Enforcement Decree, and must also comply with the restrictions stipulated in related laws and regulations when managing subsequent surplus assets. Accordingly, Veat has reviewed the Capital Market Act and its Enforcement Decree, etc., to determine whether there is a possibility of violating related laws and regulations regarding the surplus asset management methods being considered by the startup/venture PEF and has provided legal advice accordingly. According to the press release released by the Financial Supervisory Service on May 10, 2019, management participation type private equity funds recorded the highest ever levels for the number of newly established PEFs, annual investment amount, and recovery amount as of the end of 2018. Veat is providing legal advice to ensure that there are no disruptions to the surplus asset management of startup/venture specialized management participation type private equity funds by providing prompt legal opinions on Capital Market Act related issues, based on the results of establishing and registering numerous PEFs during the growth process of the PEF industry. Please feel free to contact us if you need legal advice for startup/venture PEFs. Thank you. Law firm Veat
[Criminal Litigation] Defended Company A (Defendant) in a case of alleged trade secret violation, resulting in a full "no charges" decision. Law firm Veat
Law firm Veat (hereinafter “Veat”) received a no-charges finding for both its employees and the company in A’s ‘alleged trade secret infringement case.’ A completed a system construction project for B based on its self-developed IT system, and subsequently filed a lawsuit against A for trade secret infringement while performing IT system construction for C. Veat meticulously analyzed the details of the lawsuit and, based on numerous marathon meetings with A’s representatives and a large volume of documentation, analyzed the following aspects: ▲A’s IT system development history, ▲the status of the IT system industry, ▲the contract terms between A and B, particularly the ownership and copyright attribution of deliverables, ▲B’s efforts to protect trade secrets, ▲the circumstances surrounding the contract with C and the development history of the IT system, ▲A’s efforts to prevent trade secret infringement, and ▲the background for B’s filing of the lawsuit. As a result, Veat concluded that B’s claims ignored the core content of the service contract and fundamentally misinterpreted basic facts. Based on this, Veat argued and substantiated that A’s employees had not instructed or needed to leak trade secrets, that A is a professional company with a long history of developing IT systems, that A also had the right to use intermediate deliverables under the contract with B, that B has not paid most of the service fees, that A used previously developed source code as a basis for the project for C, supplementing it with new development, and that A had made efforts to prevent trade secret infringement. The Seoul Central District Prosecutors’ Office accepted all of the facts argued and proven by Veat and issued a no-charges finding for both A’s employees and A. Veat provides specialized legal advice on trade secret and unfair competition prevention cases, staffed with attorneys with degrees in engineering and sciences and attorneys who have handled numerous advisory cases. If you require legal advice related to trade secrets, please contact partner attorney Song Do-young, representative attorney Choi Sung-ho, or partner attorney Jo Eun-byeol via the contact information below. Thank you. Law firm Veat
[Herald Economy] 'Similar services in succession' .. Large corporations, startup plagiarism dispute
'Similar services consecutively' .. Large corporations, startup plagiarism controversy In the article, Law firm Veat’s Song Do-young provided expert opinions on legal measures and related matters regarding the startup service plagiarism. Law firm Veat provides legal consultation as counsel/advisor for many startup companies. Please click on the following work areas to confirm more detailed work examples. Thank you. Law firm Veat
Seoul Metropolitan Council, Member of the Seoul Metropolitan Council Public Official National Assembly Activities Review Committee
Law firm Veat’s Song Do-young attorney has been reappointed as a member of the Seoul Metropolitan Council Overseas Activities Review Committee, effective August 30, 2019. Attorney Song Do-young is assisting in ensuring that council members’ overseas activities are carried out effectively within the review committee, which operates based on the “Seoul Metropolitan Council Ordinance on Council Member Overseas Activities.” Thank you. Law firm Veat
[News] "Commencement Report on IoT Product∙Service Verification∙Expansion Project and Integrity Consultation" Attorney Songdo Young Attends
Law firm Veat’s Song Do-young, head of the regulatory sandbox team, attended the ‘IoT product∙service verification∙diffusion project kickoff report and integrity discussion’ held at the Geoseong Hotel in Jecheon, Chungbuk on 2019. 5. 31. Attorney Song Do-young explained the legal aspects and main contents of the regulatory sandbox, including answers to the attendees’ questions regarding the regulatory sandbox, through this discussion. If you have any further inquiries related to the regulatory sandbox, please contact us through the following path. Thank you. Law firm Veat
[201908] vol 5. Terms of Use, Privacy Policy
Law firm Veat provides comprehensive legal services, including litigation, arbitration, and consultation. We handle a wide range of cases, from commercial disputes to intellectual property matters. Our team of experienced attorneys is dedicated to providing our clients with the best possible representation. Law firm Veat strives to be a trusted partner for businesses and individuals alike. We offer tailored solutions to meet each client's unique needs. Our commitment is to deliver exceptional legal outcomes while upholding the highest ethical standards. We leverage our expertise to navigate complex legal challenges effectively. Law firm Veat believes in proactive legal strategies and client collaboration. We continuously monitor legal developments to ensure our clients remain protected. Law firm Veat is committed to maintaining a reputation for excellence and integrity. We welcome inquiries and look forward to assisting you with your legal needs.
[Legal Times] Leading Lawyers 2019 - M&A and Corporate Law
Law firm Veat’s Choi Seong-ho, managing partner, has been introduced as the leading lawyer in the corporate advisory field. Please refer to the detailed article in the Legal Times article. Thank you. Law firm Veat
[201907] vol 4. Trade Secrets
Law firm Veat is committed to providing legal services that are both effective and client-focused. We strive to understand our clients' needs and goals, and to develop innovative and practical solutions to address their legal challenges. Our team of experienced attorneys possesses a broad range of expertise across various legal fields, allowing us to handle complex cases with confidence and skill. We believe in building strong relationships with our clients based on trust, transparency, and open communication. We are dedicated to providing personalized attention and responsive service, ensuring that our clients feel supported and informed throughout the legal process. Law firm Veat provides comprehensive legal services in areas such as corporate law, contract law, intellectual property law, labor law, and litigation. We represent businesses of all sizes, as well as individuals, in a wide variety of legal matters. Our commitment to excellence and our client-centric approach have earned us a reputation as a trusted legal partner. We are proud to serve our clients and contribute to their success. Law firm Veat provides the following services: * Legal consultation * Contract drafting and review * Dispute resolution and litigation * Corporate legal advice * Intellectual property protection If you are seeking legal assistance, please contact Law firm Veat today. We are here to help.