Case Studies
What is the key to preparing a legal response regarding the deletion of data by a departing employee?
Law firm Veat received a request from small-to-medium enterprise A (hereinafter "the client") regarding legal measures against a departing employee. If an employee deletes data on a company-provided laptop after leaving, this goes beyond simple data deletion and can potentially cause serious loss to the company’s interests. Law firm Veat explored suitable legal measures for the client in this situation, conducting a multi-faceted review from both criminal and civil perspectives. Review of charges including destruction of electronic records and obstruction of business "Criminal Code" Article 314 (Obstruction of Business) ① Anyone who obstructs another’s business by means or force as stipulated in Article 313 shall be sentenced to imprisonment for not more than five years or a fine of not more than 15 million won. ② Whoever destroys computer information processing devices or electronic records and special media records, enters false information or improper commands into an information processing device, or causes other impairments to information processing, thereby obstructing another's business, shall be subject to the penalty stipulated in paragraph 1. Article 366 (Destruction of Property, etc.) Whoever destroys, conceals, or otherwise renders useless the property, documents, or electronic records and special media records of another shall be sentenced to imprisonment for not more than three years or a fine of not more than 7 million won. First, we reviewed the possibility that the departing employee’s actions constituted the crime of destruction of electronic records as a representative legal measure available from a criminal perspective. The crime of destruction of electronic records is a provision that punishes actions that harm the interests of others by damaging, modifying, or deleting data stored on an information and communication network or electronic recording medium. In the client’s case, the departing executive deleted all data stored on the laptop while initializing it, which clearly had the potential to violate this provision. Furthermore, if key company data disappeared, causing disruption to business operations, it could also be linked to the charge of obstruction of business. The obstruction of business is stipulated in Article 314 of the Criminal Code, which punishes acts that obstruct another’s business. Therefore, the client considered whether it could hold the departing employee legally responsible through these criminal measures. Review of liability for damages based on unlawful acts under the Civil Code In addition to criminal measures, we also reviewed civil remedies. If the departing employee’s data deletion caused the company to suffer monetary or non-monetary losses, it could serve as a basis for holding them liable for damages based on unlawful acts under the Civil Code. Based on this possibility, Law firm Veat reviewed with the client whether to file a civil claim for damages and provided detailed guidance on the requirements for practically implementing it. Law firm Veat reviewed the purpose of the departing employee's data deletion and whether actual damage occurred as a result. In particular, if the departing executive had verbally promised not to delete or externally leak the company's key data through a shareholder agreement or similar internal contract, we reviewed the possibility of additional measures based on the breach of that contract. Accordingly, we checked the obligations stipulated in the pre-existing employment contracts, confidentiality agreements, shareholder agreements, etc., related to the client’s case, and checked whether there were any clauses that would serve as a basis for a breach of contract. We also researched and provided key court precedents recognizing civil and criminal liability in similar cases as a basis for developing a response strategy. The legal requirements and regulations in the modern business environment are becoming increasingly complex. In particular, innovative industries, including IT and startups, require professional legal advice to keep pace with technological advancements and changes in the global market. Law firm Veat has established itself as a leader in the corporate advisory sector, proving its value in this environment. Law firm Veat provides a wide range of legal services, including corporate law, investment, M&A, and intellectual property protection, to various clients ranging from startups to global corporations. It has a strength in providing optimized legal support tailored to each company’s growth stage and industry characteristics through specialized advice for the IT and startup sectors. Furthermore, Law firm Veat provides regular legal advisory services to small-to-medium enterprises so that they can effectively respond to rapidly changing legal environments, helping them identify legal risks in advance and operate their businesses safely. Through this expertise and effort, Law firm Veat has established itself as a trusted legal partner in various fields. Within the startup ecosystem, we support the growth of countless companies, from early-stage startups to unicorn companies, and, based on our accumulated experience, we design the future together and establish a stable legal foundation. If you require regular legal subscription services or corporate legal advisory services, please contact Law firm Veat. Thank you. Law firm Veat
[Law firm Veat TIP] Easily understanding copyright, the principle of the de facto standard within the dichotomy of expressing ideas.
[Law firm Veat TIP] Easily Understanding Copyright: The Idea-Expression Dichotomy and the Doctrine of De Facto Standards The Law firm Veat TIP(Technology Intellectual Property) team, with extensive experience in protecting copyrighted works, has contributed a column to Platum, a startup-focused media platform, dealing with the idea-expression dichotomy and the doctrine of de facto standards. The idea-expression dichotomy explains the principle that an author's idea itself is not protected by copyright, but only creative expression is. In this regard, it introduces the ‘doctrine of de facto standards’ and discusses cases where expressions that have become industry standards over time no longer receive copyright protection. It explains the ‘de facto standard’ doctrine through famous examples such as the QWERTY keyboard layout or Lotus’s menu structure, which originally had multiple expressions but eventually settled on a single standard and are no longer protected by copyright. [See the link] to view the full column. This column emphasizes the need to carefully consider the protectability of creations in areas such as software, user interfaces (UI), and digital design. In an environment where technology and creation are combined, we recommend carefully reviewing the possibility of protecting copyrighted works and whether standardized expressions can be used through legal experts. The Law firm Veat TIP team provides professional legal advice on copyright issues that may arise according to the ‘doctrine of de facto standards’. In particular, it thoroughly analyzes legal disputes arising in the ‘user interface’ field, where idea and expression are often mixed and standardized later, and provides legal advice on these copyright issues. Through this, we help creators understand copyright protection for standardized expressions, minimize legal risks, and safely utilize their creations. If you have any concerns about copyright issues related to digital design, user interfaces, or software, please contact the Law firm Veat TIP team. Thank you. Law firm Veat
[Legal Times] Law firm Veat, 2024 Best Law Firms in Korea 'Startup Investment Advisory Excellent'
Law firm Veat was introduced in the ‘2024 Law Firm Directory’ [Best Law Firms in Korea] , a special feature organized by Legal Times for the 17th anniversary of its launch. Legal Times noted that Law firm Veat advised on 39 M&A deals worth $119 million in accumulated M&A league tables for the third quarter of this year, as compiled by Bloomberg, ranking 6th by deal count and standing shoulder-to-shoulder with major domestic and foreign law firms. Law firm Veat (VEAT Law Firm) holds a unique position in domestic and international startup investment consulting. Deeply understanding the business model and industry characteristics of startups, it proactively resolves complex legal issues that may arise from the initial investment stage to the large-scale funding stage, utilizing the experience of both investors and startups to design fair and transparent contractual structures to support successful investments. Furthermore, through a global network, it provides rapid and professional assistance with overseas investment, cross-border M&A, and regulatory issues. Moreover, based on its expertise in copyright and intellectual property (IP) fields, it provides comprehensive services including copyright registration, license agreements, and dispute resolution to protect the technology and creations of startups, proactively analyzes and responds to copyright-related legal issues arising in new technology and platform environments. It supports the protection of startups' core assets and business expansion, and provides customized legal services in innovative technology fields such as IT, platforms, blockchain, and metaverse. Notable examples include advising on BaroPharm's 1.5 billion won pre-IPO investment round, advising MetisX (MetisX)'s 60 billion won Series A investment round, supporting numerous IT and platform startups in securing initial investment, and winning a copyright case representing pianist and composer Yiruma. These projects prove that Law firm Veat is a trusted partner in the startup investment and copyright fields. Law firm Veat's strength also lies in providing customized legal advice tailored to each stage, such as designing equity structures and stock options for early-stage startups, enabling startups to stably advance to unicorn companies. Also, it opened Law Series , a legal diagnostic service, to support VC systematic post-management and help startups operate legally stable even after securing investment. For more details, please refer to the original article below, and if you need corporate legal advice, please feel free to contact Law firm Veat. [2024 Best Law Firms in Korea] Law firm Veat - Legal Times Thank you. Law firm Veat
AI and copyright, methods to minimize business legal risks.
The development of artificial intelligence (AI) technology has opened a new paradigm for content creation, but this process can lead to new legal challenges, as AI technology that learns from large amounts of data to generate content may infringe copyright. Law firm Veat is leading the way in resolving copyright issues related to AI through its TIP (Technology, Intellectual Property) team, which specializes in handling AI and copyright issues, providing various legal consultations and successfully handling cases. Copyright Issues in AI Learning Data: The US GitHub and New York Times Cases Particularly, in recent years, major AI platforms have been embroiled in copyright infringement lawsuits, bringing the copyright issue of AI learning data into the spotlight. GitHub Copilot, a US code generation service, faced a class action lawsuit for violating open source licenses. Copilot generates code based on numerous open source code datasets collected from the internet, and open source copyright holders argued that Copilot did not comply with licenses for the use of copyrighted works. This case can be considered a representative example that first raised the legal issue of what procedures AI should go through when learning from existing copyrighted works. In addition, at the end of 2023, the New York Times filed a lawsuit against OpenAI and Microsoft, claiming that ChatGPT and Bing Chat illegally used New York Times articles as learning data, and demanding the cessation of GPT models. Initially, individual copyright holders responded in the form of class action lawsuits, but recently, major copyright holders have also filed lawsuits, and the trend of AI lawsuits is intensifying globally. Therefore, to avoid legal issues when training AI, it is necessary to verify that the data used for training does not infringe the copyrights of others. The best approach is to agree with the original copyright holder in advance and purchase or receive content. In particular, content automatically collected from the internet through crawling methods cannot be assumed to be permitted by the original copyright holder for use in AI model training, so caution is needed. Copyright and Intellectual Property Specializing Law firm Veat TIP (Technology, Intellectual Property) Team Law firm Veat operates a TIP (Technology, Intellectual Property) team to provide more specialized legal advice related to copyright and intellectual property. The TIP team has a deep understanding of future technologies and new industries such as IT, software, NFTs, metaverse, and games, and provides in-depth legal advice in the fields of copyright and intellectual property. The TIP team is led by Senior Counsel Oh Seung-jong, who has over 30 years of experience in the field of intellectual property and has served as Chairman of the Korean Copyright Committee and President of the Korean Copyright Law Association, and is comprised of Partner Attorney An Il-woon, who actively engages in IT and copyright fields, including lectures on specialized training on open source SW licenses hosted by the Korean Copyright Committee in 2024, and Senior Counsel Jeon Yong-hwan, who has extensive experience in copyright litigation and consultation. Although the issues of AI and copyright are just beginning to be discussed, Law firm Veat TIP team proactively identifies trends in IT and new technology copyrights, and supports companies in preventing legal risks and operating their businesses stably. If you require legal advice related to AI legal issues or copyright issues, please feel free to contact Law firm Veat at any time. Thank you. Law firm Veat Team
Creators' Safe Creative Activities: Copyright FAQ
Along with the growth of one-person media content, creations like cover songs and cover dances are receiving a lot of love from the public. Cover content, which is produced in various ways, is increasingly gaining attention in the one-person media environment. For example, there are creators who professionally produce cover songs, and there are also ordinary people who follow the choreography of famous idols out of fandom. 'Cover' means reinterpreting and expressing a previously released song or choreography by someone else. It is well known that companies imitating other companies' products without permission can be a legal problem. So, does cover content, which imitates songs or dances, not violate copyright law? Law firm Veat’s copyright attorneys and together discussed what creators should know about copyright and precautions. Recently, cover content has been gaining explosive popularity. What points should be considered regarding copyright? These days, cover songs and cover dances are commonly seen on platforms like YouTube and TikTok. When creating and uploading cover song or dance videos for one-person media, this typically involves acts of reproducing and publicly transmitting the original copyrighted work. Therefore, if creators produce or upload without the copyright holder's permission, there is a possibility of infringing on the copyright holder's rights, such as the right of reproduction and the right of public transmission. Copyright holders generally have various copyrightable property rights such as the right of reproduction (‘reproduction right’) according to the Copyright Act, the right of public transmission (‘public transmission right’) to transmit or provide wireless or wired access to the public, the right of performance (‘performance right’), the right to create derivative works (‘right to create derivative works’) by methods such as translation, arrangement, or modification of the original work, and the right to determine whether the work is publicly disclosed (‘right of public disclosure’), the right to indicate the author on the original or copy of the work (‘right of authorship’), and the right not to arbitrarily alter the identity, form, and title of the work (‘right of integrity’). Therefore, in order to produce and upload such content to a platform, it is basic to obtain prior consent from the copyright holder. Content posted without prior consent may be considered copyright infringement. So, does all cover content constitute copyright infringement? Of course, creating these cover videos doesn't always constitute copyright infringement. The Copyright Act Article 1 stipulates that ‘the purpose of the Copyright Act is to contribute to the improvement and development of culture and related industries by promoting the fair use of copyrighted works’, and strict protection of copyrighted works may actually hinder the development of the cultural industry, so the Copyright Act provides various limitations on copyright. An example of a limitation clause that has been applied is that the Seoul High Court ruled in a case where copyright infringement was an issue due to a 5-year-old child filming and posting a video singing a portion of a domestic singer’s song ‘Crazy’ online, acknowledging that the act of filming and posting the video constitutes reproduction and transmission of the original copyrighted work, but the video does not infringe copyright because it was quoted in conformity with fair practice under Article 28 of the Copyright Act (Seoul High Court, October 13, 2010, 2010na35260). What can creators do to avoid copyright infringement? In order to be recognized as not infringing under the copyright limitation clauses, strict requirements must be met. Therefore, it is necessary to be careful when relying on the aforementioned ruling to create cover videos. In particular, the fact that most creators who make cover videos generate revenue through advertising is likely to be an obstacle to the application of the limitation clauses. The most reliable way to prevent copyright issues is to obtain formal permission from the copyright holder. To this end, you can enter into a license agreement or utilize the license library provided by platforms such as YouTube. Also, it is recommended to fully understand the copyright limitation clauses in the content creation process and seek the help of a legal professional to prevent unnecessary legal disputes. If you could offer some advice to creators who want to create cover content? It might be a good idea to consider whether the content made with good intentions might have been infringing on the rights of the singer or choreographer you like. To maintain a healthy creative ecosystem, creators and creators should always check whether the content complies with the 「Copyright Act. In the 1인 미디어 era, the importance of copyright is increasing day by day. We recommend that creators review legal risks in advance and receive legal advice to continue safe creative activities by complying with proper procedures. Law firm Veat’s Technology Intellectual Property(TIP)team, based on its extensive experience and expertise in copyright and intellectual property law, provides optimal legal advice on all legal issues, including
IT service trust's first step: The importance of customized terms of service writing!
In a rapidly changing IT environment, unexpected system failures can have a significant impact on both users and providers. To address this, IT companies providing emergency response services in the event of a failure need to build trust with users through terms of service and proactively prevent potential legal disputes. Recently, Law firm Veat considered providing emergency response services at the request of a client and drafted terms of service accordingly, providing legal advice to minimize the client's legal risk. The Necessity of Customized Terms of Service In this case, Law firm Veat received a request from an IT company providing emergency response services to draft terms of service. The company provided services guaranteeing system continuity through rapid response in the event of a system failure. Terms of service are a core legal document that clearly defines the nature of these services, systematically regulates the rights and obligations between users and providers, and builds trust. Points to Consider When Drafting Terms of Service 1. Terms of Service Design Aligned with Service Characteristics To achieve the purpose of terms of service, which is to build trust with users and proactively prevent legal disputes, it is necessary to ensure that the terms perfectly align with the company's business model. Therefore, when drafting terms of service, it is necessary to thoroughly review detailed data on the service and accurately reflect key aspects such as the scope and conditions of service provision, response procedures in the event of a failure, and user obligations. 2. Minimizing Legal Risk Act on the Regulation of Standard Contract Terms Article 6 (General Principles)
[Legal Guide] How to Legally Respond to Malicious Reviews about Companies
Have you ever looked up reviews of a company on a workplace review website to find employment information or workplace information? Recently, workplace review websites have become an important source of information for job seekers and employees. Employees and job seekers can use these corporate reviews to find information about corporate culture, working environment, and benefits. However, these corporate reviews are not always based on truth, and there is a possibility that some reviews may defame the company’s reputation with false information or excessive slander. Since malicious reviews can have a devastating impact on a company’s image and reputation, a timely and appropriate response is necessary from the company’s perspective. How can you legally respond to false statements or defamatory reviews? Law firm Veat provides legal consultation based on the Information and Communications Network Act and legal provisions related to defamation regarding disputes arising from corporate reviews. Is it possible to request deletion of corporate reviews? According to Article 44-2 of the Act on Promotion of Information and Communications Network Utilization and Information Protection (hereinafter referred to as “the Information and Communications Network Act”), if a person’s rights, such as privacy infringement or defamation, are infringed upon by information publicly disclosed through an information and communications network, the person whose rights have been infringed can request the information and communications service provider who processed the information to delete the information or post a rebuttal. The company should carefully examine the specific content of the corporate review and, if the review infringes on the company’s rights, consider requesting the website operator to delete the review. In fact, there have been cases of dispute regarding whether illegal responsibility arises from the failure to delete a review, even after requesting deletion of a review posted on a for-profit employment information sharing social media internet site that provides anonymous evaluation posts based on current and former employees.
Brokerage platform essential terms of service legal review
Law firm Veat conducted a legal review of the terms of service for Company A, a company operating a mediation platform service (hereinafter "the client"). Terms of service are not only essential for platform operation but also an important tool to proactively prevent legal disputes that may arise during service use. Law firm Veat, based on relevant laws such as the “Act on the Protection of Consumers in Electronic Commerce” (hereinafter "Electronic Commerce Act”) and the “Act on Regulation of Standard Contract Terms” (hereinafter "Standard Contract Act”), reviewed the items necessary for platform operation. Law firm Veat's legal review of the terms of service Terms of service and detailed guidelines Mediation platforms often prepare separate detailed guidelines in addition to the terms of service to specify various service conditions and detailed operating policies. However, if the detailed guidelines conflict with the terms of service or the priority is not clear, it may lead to disputes with customers or invalidity of the terms. In addition, to recognize the validity of the detailed guidelines, it is essential to clearly inform the customer of its contents and obtain consent. Accordingly, Law firm Veat reviewed whether the client’s prepared detailed guidelines may conflict with the terms of service or cause confusion, clarified the priority of application of each document, and guided on the specific conditions necessary for the detailed guidelines to be legally valid and how the client should comply with them and inform the customer. Process of concluding contract and necessary items for consent Reviewed the process by which a contract with a user is made in accordance with the Electronic Commerce Act, with particular focus on the method of obtaining customer consent. Regulations on customer rejection and service restriction Reviewed whether the provisions on rejection of joining and restriction of service use stipulated in the terms of service conform to the standards of the Fair Trade Act and the Standard Contract Act, and reviewed the drafting of provisions that present specific and objective criteria. Refund regulations and disclaimer clauses It is common for platform operators to include disclaimer clauses to minimize disputes with customers. However, according to Article 7 of the Standard Contract Act, provisions that impose excessive responsibility on customers or provide one-sided exemption to the operator may be deemed invalid. Law firm Veat prepared refund regulations to minimize the client’s losses while ensuring the legitimate rights of the customer, and advised on the prevention of excessive operator disclaimers. Reflection of the Fair Trade Commission’s recent direction of standard contract review The Fair Trade Commission (hereinafter "FTC”) emphasizes the fairness and clarity of standard contract terms and strictly regulates ambiguous or one-sidedly disadvantageous clauses. Reviewed the provisions of the terms of service in detail to align with the FTC’s policy on strengthening fairness of standard contract terms and advised on how to flexibly respond to future regulatory trends. Electronic commerce services like mediation platforms require complex legal review because they are based on the interaction of various stakeholders, unlike general B2C contracts. It is recommended that you have a professional lawyer review the terms of service, which are the most basic legal document that defines the obligations of the service provider and the rights of the user. Standard contract terms and the Electronic Commerce Act and the Standard Contract Act The Electronic Commerce Act and the Standard Contract Act serve as important criteria to ensure consumer protection and fair trade. The Electronic Commerce Act is a law enacted to protect consumers and operators and to maintain a fair trading order by considering the specificities of electronic commerce. - Obligation of publicity and notification of standard contract terms The platform operator must clearly publish standard contract terms so that consumers can read and understand them before using the service. - Regulations on cancellation of contract and refund Article 17 of the Electronic Commerce Act stipulates the consumer’s right to cancel the contract. The Standard Contract Act is a law enacted to ensure the fairness of contracts and prevent unfair standard contract terms. The operator must consider the following elements when drafting standard contract terms. - Prohibition of unfair clauses The Standard Contract Act deems clauses that are unfairly disadvantageous to consumers, excessively exempt the operator, or restrict consumer rights to be unfair and invalid. - Prohibition of arbitrary changes disadvantageous to customers Provisions that allow the operator to unilaterally change the standard contract terms are deemed invalid. - Method of resolution in case of dispute The method of dispute resolution and the competent court must be specified in the standard contract terms in advance. Law firm Veat tailored the terms of service to reflect the client’s characteristics, while also meticulously analyzing the latest trends and regulatory trends of the FTC, and revising ambiguous or unfair provisions of the terms of service based on the provisions of the Electronic Commerce Act and the Standard Contract Act, thereby preventing unnecessary disputes with consumers and contributing to building trust with consumers through systematic operation of the terms and detailed guidelines. Law firm Veat is a law firm specializing in electronic commerce law and IT legal advice and has extensive experience dealing with legal issues of various platform companies and startups both domestically and internationally. We recommend that you operate a stable and sustainable platform with professionals who combine legal advice and practical experience. Thank you. Law firm Veat
Startup Success Key: Checklist for Investment Agreements and Issuance of New Shares
Startup operations have moments of excitement, and one of them is securing investment. Gaining investor trust and securing funding is an important turning point that announces the company's growth and leap. However, there are also many things to prepare for. Especially, in the investment acquisition process, the essential new share issuance procedure, if not properly prepared beyond simply issuing new shares, there is a possibility of legal disputes due to investment acquisition process mistakes or inadequate contract writing. Let’s take some time to learn about the key points of new share issuance and startup investment contracts with Law firm Veat’s investment attorneys. Q1. What processes should be prepared when acquiring investment? Acquiring investment is a very important step for company growth and business expansion, and there are two essential things to prepare in this process. First, is the contract conclusion and implementation preparation with the investor. The investment contract should clearly state the investment amount deposit conditions, new share issuance conditions, and investor's rights. Second, is the new share issuance (rights offering) procedure. After the investor’s funds are deposited into the company, new shares must be issued based on this, and this process should be carried out by understanding and complying with the provisions of the Articles of Incorporation and the Commercial Code. Q2. Who can decide on new share issuance? A: The authority to decide on new share issuance belongs to the board of directors or the shareholders’ meeting. In principle, according to the Commercial Code, new share issuance can be decided by the board of directors. However, if the Articles of Incorporation explicitly stipulate that new share issuance should be decided by the shareholders’ meeting, the resolution of the shareholders’ meeting must be followed. Q3. What restrictions should be considered when the board of directors decides on new share issuance? A: The number of shares that the board of directors can issue is limited to the total number of authorized shares (number of authorized shares) specified in the Articles of Incorporation. If you want to issue more than the authorized shares, you must obtain a special resolution from the shareholders' meeting to change the total number of authorized shares and register the change. Q4. How should new shares be issued to a third party who is not an existing shareholder? A: In order to allocate new shares to a third party, there must be a provision in the Articles of Incorporation supporting this. If there is no such provision in the Articles of Incorporation, a special resolution from the shareholders' meeting must be obtained to amend the Articles of Incorporation before third-party allocation is possible. Q5. What are the requirements for a special resolution of the shareholders’ meeting for third-party allocation? A: A special resolution of the shareholders' meeting requires more than one-third of the shareholders to attend and more than two-thirds of the attending shareholders to vote in favor. Q6. How are shareholders’ preemptive rights for new shares treated? A: When issuing new shares, shareholders have the right to preferentially subscribe to new shares in proportion to their holdings (preemptive right). Whether this right can be transferred is stipulated in the Articles of Incorporation, and the Articles of Incorporation should also include provisions regarding the issuance of subscription certificates and the claim period. Q7. What procedures are required to restrict or exclude preemptive rights? A: In order to restrict or exclude shareholders’ preemptive rights, there must be a supporting provision in the Articles of Incorporation, and a special resolution from the shareholders' meeting is required for this. In addition, to protect the interests of existing shareholders, sufficient consideration must be given to the purpose of the share issuance and the appropriateness of the issuance price. Q8. How can you check the types of shares that can be issued? A: The types of shares that the company can issue should be specified in the Articles of Incorporation. When acquiring investment, if you want to issue various preferred shares (priority dividend shares, redeemable preferred shares, etc.), the Articles of Incorporation must clearly include the relevant basis and regulations. Q9. What are the points to be aware of during the new share issuance process? A: The most important thing to be aware of during the new share issuance process is compliance with the Articles of Incorporation and the Commercial Code. Non-compliant or off-regulation share issuance can lead to disputes with investors or legal issues. Also, it is important to align the interests of existing shareholders before issuing shares to investors. For example, the cooperation of shareholders may be required for third-party allocation, so it is necessary to plan carefully in this process. Q10. Why is the help of a legal expert needed? A: For startups and venture companies, securing investment is not just about securing funds, but also about increasing the value of the company and laying the foundation for growth. However, in order to prevent legal issues that may arise in the process of new share issuance and investment contract conclusion, advice from a legal expert is necessary. In particular, it is recommended to seek expert assistance in each stage, such as drafting investment contracts, amending the Articles of Incorporation, obtaining special resolutions from the shareholders' meeting, and increasing the total number of issued shares, to effectively resolve issues that may arise. From investment contract conclusion to new share issuance, Are you feeling overwhelmed about where to start and how to prepare? Please contact Law firm Veat. Law firm Veat ranked high in the Bloomberg 2023 Asia-Pacific Stars, specializing in supporting startups. In 2023, Law firm Veat achieved remarkable success, ranking among the top law firms in Asia-Pacific in terms of M&A advisory volume. In the Bloomberg 2023 Asia-Pacific Stars evaluation, Law firm Veat was recognized as a leading firm in the region, showcasing its expertise and impact on the startup ecosystem. The firm's consistent recognition underscores its commitment to providing exceptional legal services and contributing to the growth and success of startups. In addition, Law firm Veat collaborates with Next Challenge and Kim Gisalab, global accelerators, to provide comprehensive support to early-stage startups to growing companies. This collaborative approach, combined with a wealth of legal advisory experience focused on startups, technology convergence capabilities, and a domestic and international investor network, allows Law firm Veat to provide exceptional legal services. Law firm Veat professionally supports all processes of investment and new share issuance, and is a law firm highly trusted domestically and internationally in legal advisory services for startups and companies. This effort and achievement are also recognized by authoritative evaluation organizations, demonstrating the outstanding capabilities of Law firm Veat. If you want to resolve legal issues that may arise in the investment acquisition and new share issuance process and maximize the potential for company growth, please contact Law firm Veat. Thank you. Law firm Veat
[Law firm Veat TIP] Easily understanding copyright, the principle of convergence in idea expression dichotomy
Law firm Veat’s team specializing in Technology Intellectual Property (TIP) has contributed a professional column on the dichotomy of idea expression and the principle of fusion to Platum, a media platform specializing in startups. As digital content becomes more active, there has been an increase in cases where ideas and expressions are fused, such as game rules and cooking recipes. This column details the definition of the principle of fusion, applicable situations, and limitations of copyright protection, and analyzes copyright protection standards through court decisions. [This link] allows you to view this column. Law firm Veat’s TIP team’s column provides practical legal information to both creators and businesses when the boundary between ideas and expressions is unclear or when the copyright protection of fused content needs to be determined. Clearly distinguishing between ideas and expressions is not easy, and even creative expressions may have exceptions, so complex copyright issues such as the principle of fusion are recommended to receive expert advice to protect the rights of creations and prevent disputes, so that the value of creations can be properly understood and protected. Law firm Veat’s TIP team provides professional legal advice on copyright issues that may arise from content where the distinction between ideas and expressions is unclear. In particular, it analyzes the protection standards of creations and applicable laws in content where ideas and expressions are fused, supporting creators to legally and safely protect content that demonstrates originality. This helps prevent copyright infringement issues and fully protect the value of creations.