Case Studies
[Consulting] Web Novel Open Market Terms and Conditions Review
Starting a new B2C business requires a lot of preparation. In particular, starting a B2C business online requires you to overcome the mountain of drafting terms of service and a privacy policy. Company A sought Veat while building a novel and comic content trading platform, aiming to draft terms for various types of members, including readers, authors, and businesses, to buy and sell content on the platform, and to design a privacy policy to protect their personal information. Veat drafted terms that comply with relevant laws and regulations such as the Electronic Commerce Act and Copyright Act, while maximizing the characteristics of the content trading platform's business, and designed a privacy policy that complies with the legally mandated obligations of personal information managers, which have been further strengthened by recent amendments. Thank you. Law firm Veat
[Consulting] Game publishing contract review
Game development company A requested Veat to review the English publishing contract to conclude a publishing contract with a publisher in China. Veat has reviewed a very diverse range of publishing contracts, including mobile, PC, and console platforms, publishers from various regions such as China, Japan, and the United States, and various genres. Based on this experience, Veat focused on reviewing the copyright and ownership of game data, license grant conditions, profit sharing, and termination conditions, which are the areas where the interests of game developers and game publishers are most sharply opposed. In this process, Veat identified terms that were disadvantageous to the game developer but favorable to the game publisher, and suggested that they needed to be revised for the long-term relationship between the developer and the publisher. Company A adjusted the detailed contractual terms according to Veat’s review, and as a result, a publishing contract that satisfied both the developer and the publisher was concluded. Thank you. Law firm Veat
[Consulting] Service Terms and Conditions Review
A company, as the largest real estate O2O platform service provider in Korea, has collaborated with numerous real estate professionals while simultaneously satisfying service users. A company wanted to comprehensively review the service usage terms and conditions for general users, as well as for real estate professionals, to identify any illegalities, and commissioned the review work to Law firm Veat, which has the highest understanding of startup business models. Veat reviewed the service usage terms and conditions with reference to the terms and conditions regulation law and real estate-related laws and regulations, and added content reflecting A company’s business model and policies for cooperation with real estate professionals in the process. Domestic O2O services are rapidly growing in various fields, and the need to fairly manage the triangular relationship between consumers, companies, and service providers, which is a characteristic of O2O services, is increasing. Veat will not hesitate to provide legal advice to help startups steadily manage their businesses even in emerging markets. Thank you. Law firm Veat
[Advisory] Review of Franchisee Compliance Requirements in Franchise Agreements
A company has successfully launched a lodging O2O service platform and is now embarking on a franchise business with lodging establishments as franchisees, aiming to become the undisputed leader in the domestic lodging O2O market. In this process, A company realized that the Franchise Business Act imposes various restrictions on franchisees to protect franchisees, and found Veat. Veat advised A company that, as a franchising business operator, it must satisfy the requirements of the Franchise Business Act when supplying goods to franchisees in order to provide uniform services and brand image for the franchise locations. Veat also provided legal advice, judging what requirements must be met depending on the specific goods A company intends to supply, and whether the supply of goods by the franchising business operator is permissible under the Franchise Business Act. Thank you. Law firm Veat
[Consultation] Regarding overseas subsidiaries, determination of withholding tax obligations
Company A paid software usage fees to foreign IT company B and received the right to use the software, which it then sold to companies in Korea. At this time, company B had generated sales in Korea, so when company A paid software usage fees to company B, the payer was required to withhold and pay corporate tax and value-added tax. During this process, company A argued with other domestic companies regarding who was the withholding tax agent for the software usage fees, and eventually sought out Law firm Veat for an accurate interpretation of the tax law. Law firm Veat reviewed the provisions of the Corporate Tax Law and Value-Added Tax Law and the contract terms between company A and other domestic companies, found a precedent that precisely matched the case, and provided a basis for determining the withholding tax agent, which resolved the dispute between company A and the domestic companies using the software. Thank you. Law firm Veat
[Litigation] Preparation of attorney's opinion on charges of improper distribution and violation of the Act on the Protection of Children and Adolescents.
A artist who was creating and selling adult comics has become the subject of a police investigation for violation of Article 11 of the Criminal Act and the Act on the Protection of Children and Adolescents. Law firm Veat analyzed the constitutive elements of each charge and the attitude of precedents, and drafted a legal opinion that intensively argued that it would be difficult to define the comics actually created by A artist as obscenity, and that they do not meet the requirements to be classified as child-adolescent-use obscenity as stipulated in the Act on the Protection of Children and Adolescents. In particular, regarding child-adolescent-use obscenity, it emphasized that precedents stipulate that simply having a figure wearing a school uniform or appearing young in an obscenity does not make it child-adolescent-use obscenity, and that a comprehensive judgment of the production process and surrounding circumstances must be made from the perspective of an objective average person in society. Thank you. Law firm Veat
[Consulting] Service Terms and Conditions Drafting
A company launched a 3D model marketplace service where 3D designers and users can buy and sell 3D printer model files. A company was looking for a law office to draft the terms of service and license grant agreements between sellers/buyers for this marketplace. A company wanted a law firm with experts in the relevant field, not just a typical law firm, and ultimately requested Law firm Veat to draft the terms of service and license grant agreements. The terms of service and license grant agreement must not conflict with relevant laws such as the Electronic Commerce Act, the Act on Regulation of Standard Contract Terms, and the Civil Law, and must also stipulate the license grant conditions that can occur in the process of buying and selling 3D printer models, disputes arising from the transaction and refund process of intangible files, and the company's role. Veat meticulously drafted the terms of service and license grant agreement so that A company could assume an appropriate level of responsibility as an online marketplace operator and avoid unfair damage due to users who misuse the service. Thank you. Law firm Veat
[Consulting] Service Use Agreement Drafting
A company was preparing a unique platform to easily find programmers desired by IT companies by testing their programming skills. A company sought Law firm Veat to draft contracts between the IT companies using the platform and A company. This contract had to not only comply with laws and regulations such as the Standard Contract Act and Civil Law, but also align with the unique form of service involving programming skills testing and satisfying the requirements of recruiting companies. Law firm Veat meticulously drafted the contract, adding clauses to prevent misuse of the platform by IT companies and applicants, ensuring that A company would not suffer unforeseen damages. Through this, A company is successfully cooperating with IT companies to operate the platform. Thank you. Law firm Veat
Debt collection for foundations, review of investment possibility.
A company had a considerable debt to B Foundation. Believing that B Foundation, which has a public purpose and role, would surely repay, it had provided services on credit for a significant amount. However, as B Foundation continued to postpone debt repayment, A company sought legal advice from Law firm Veat regarding pursuing debt collection for the debt and exploring the possibility of acquiring a stake in B Foundation and participating in its operation if collection proved impossible. Law firm Veat investigated whether debt collection from B Foundation was possible by understanding the nature of a foundation under the Civil Law and the legal principles regarding its basic property. It also analyzed whether A company could acquire a stake in B Foundation, and if so, the requirements and procedures for doing so, and provided this information. Thank you. Law firm Veat
[Consultation] Regarding a startup securing new investment with an inflated Valuation, review of potential fraud charges. Law firm Veat
Investors in venture companies generally analyze a company's growth potential and profitability to decide whether to invest. However, in addition to analyzing these business aspects, how previous investors assessed the company's value and whether current investors are planning to invest in the company can also be important factors in deciding whether to invest. Law firm Veat analyzed whether false claims regarding Valuation could be considered a deception, which is a constituent element of fraud under the Criminal Code, in a case where the representative of Company A persuaded an individual investor to invest based on the claim that previous investors had invested in Company A at a certain value. Whether such claims constitute fraud is difficult to discern without understanding the customary practices and unique culture of the venture capital industry. Law firm Veat was able to analyze whether such false claims constitute fraud in the relationship between a company and an individual investor through various legal advisory and investment advisory experiences in the venture capital industry. Thank you. Law firm Veat