Case Studies
[Law firm Veat_Plattum Column] Can a slogan or catchphrase receive copyright protection?
Law firm Veat copyright team, TIP (Technology Intellectual Property) team contributed to startup media platform Platum on whether short sentences such as slogans can be protected by copyright. Whether a slogan can be protected by copyright must be judged based on whether it creatively expresses an idea or emotion according to copyright law theory. This column provides a detailed explanation based on case law examples as to whether it can be protected by copyright. Please refer to [ this link ] for this column. The article contributed by Law firm Veat published in Platum, from the perspective of corporate brand value, provides abundant copyright judgment examples that will help corporate marketing personnel, advertising personnel, and other employees who consider corporate brand image. Short sentences such as slogans can also cause copyright issues and affect brand image, so careful legal review of copyright is necessary, and it is necessary to clearly determine copyright protection beforehand through experts to reduce legal risks. Law firm Veat’s Knowledge Property Specialization TIP team has expertise in the field of copyright, trademark rights, and patent rights, and helps companies minimize legal risks and protect creative assets such as slogans. If you need a legal review for copyright protection of slogans, please contact Law firm Veat. Thank you. Law firm Veat
Reviewing a strong response plan for spreading false information about competitors' clients.
Law firm Veat received a request from accommodation company A (hereinafter referred to as the "Client") to review measures to respond to the competitor's spreading of false information. The corporate advisory team of Law firm Veat explained that if the competitor spread false information about the Client's ability to pay, it could be subject to the crime of credit impairment and obstruction of business under the "Criminal Law." Based on a clear understanding of criminal offenses, the corporate advisory team of Law firm Veat advised the Client on measures such as filing a criminal complaint against the competitor who spread false information, thereby imposing legal sanctions, and sending a certified letter with warnings and measures to prevent recurrence, focusing on the content needed to establish countermeasures against the spreading of false information that damages the Client's credit and obstructs their business. What are credit impairment and obstruction of business? Credit impairment is the crime of spreading false information or impairing someone’s credit by other deceptive means. It appears similar to defamation, but has different characteristics. While defamation deals with the invasion of a person’s dignity in their social life, credit impairment can be seen as a crime against economic invasion. Therefore, the crime of credit impairment can be applied when spreading false information with the purpose of invading another’s economic interests. Obstruction of business is the crime of obstructing a person’s business by spreading false information, other deceptive methods, or force. The crime of obstruction of business is intended to protect social and economic activities and involves actions targeting an office or business continuously performed based on a status in social life. For the crime of obstruction of business to be established, it is necessary to have requirements such as spreading false information or committing deceptive or forceful acts. We recommend that you obtain accurate responses through consultation with a legal expert who has a deep understanding of criminal law and relevant case law, and who has handled various cases, to determine whether these requirements are met. Law firm Veat provides professional solutions to legal issues quickly and accurately, based on the experience of advising various companies, and reviews appropriate legal sanctions methods. Law firm Veat provides systematic legal advice that accurately identifies the characteristics of the Client's business services and the legal risks that have arisen, and provides support in the operation process, so if you need civil and criminal legal advice for your services, please feel free to contact Law firm Veat. Thank you. Law firm Veat
Healthcare startup Series C investment legal advisory services.
Law firm Veat successfully performed legal advisory services for Series C investment attraction at the request of healthcare startup A (hereinafter referred to as "the client"). The investment attraction of a startup is greatly influenced by the contract terms with previous investors in the new investment contract, so the investment advisory team of Law firm Veat carefully reviewed the client's previous investment contracts and detailedly explained the points that could affect the new investment contract. The investment advisory team of Law firm Veat reviewed provisions that might impose excessive personal responsibility on the client, such as stock purchase rights and penalty clauses, which are often required by investors in startup investments, and revised some clauses of the investment contract so that the client would not be burdened excessively. Also, to help with investment decisions, we explained the meaning and potential risks of each clause to the client and supported negotiations to present a compromise that meets the investors' demands while reducing factors that could impair the client's financial burden and management autonomy, thereby maintaining a balanced investment contract. Investment Series Stage - Seed Stage : This is the earliest stage of investment, aiming to secure initial funding, develop products, and conduct initial market research. The amount of funding is relatively small, and the investment terms are flexible. - Series A : This funding is for entering the market and growing, with the product or service already developed or almost complete. The purpose is to launch the product, secure initial users, enter and expand the market, and evaluate the company’s value, making investment terms more specific and complex. - Series B : This funding is for expanding the scale, such as hiring additional staff, expanding marketing, and going international. The purpose is to expand the market, improve products, and expand operations, and requires a clear plan and demonstrable results for the company's growth potential. - Series C : This is an important time for startups to aim for actual market expansion and revenue growth. This is funding for a larger market, already proving a successful business model. The purpose is to explore large-scale expansion, enter new markets, and consider mergers and acquisitions, and is a stage where large amounts of funding flow in and the company’s value increases significantly. - Series D and Beyond : Series D and beyond are carried out when additional funding is needed, and can be considered the final stage of growth. The purpose is to expand into a larger market, develop new products, and globally expand existing products. Law firm Veat is providing negotiation and legal support needed at each investment stage, based on accumulated know-how and experience from various investment advisory cases, helping clients successfully attract funding and achieve sustainable growth. Law firm Veat has high expertise in the investment and M&A fields, achieving 2nd place in the Bloomberg LeagueTable for Q1 2023 based on the total number of transactions. In particular, Law firm Veat is actively assisting in legal post-investment support for the client’s global fostering and subsequent management after investment attraction, in collaboration with Next Challenge, to reduce legal risks for startups. Law firm Veat is providing investment advisory tailored to the specific characteristics of each company, not only for startups but also for various companies, to secure both legal stability and financial flexibility, so please work with Law firm Veat to effectively resolve various legal issues that may arise in the investment attraction process and establish a solid foundation for the company's growth. Thank you. Law firm Veat
Ministry of SMEs and Startups appoints a legal advisory group of specialized startup lawyers, including Law firm Veat.
The Ministry of SMEs and Startups has launched a startup legal advisory panel to support new industries and new technology startups. A number of lawyers from Law firm Veat are included in this advisory panel, playing an important role in supporting the growth and innovation of startups. Ministry of SMEs and Startups Startup Legal Advisory Panel Launched In response to the need for legal support for startups in the new industry sector, which was raised at a people's discussion meeting in February, the Ministry of SMEs and Startups has formed a legal advisory panel for the ‘Startup Online Legal Advisory Project’, which has been implemented since April. The Ministry of SMEs and Startups Startup Legal Advisory Panel consists of a total of 58 startup-focused expert lawyers and is expected to solve various legal problems faced by innovative startups and support innovation. The launch ceremony of the Startup Legal Advisory Panel, held on the 2nd, was a place to declare a strong cooperative system and renew determination and pride. Law firm Veat’s Participation A number of lawyers from Law firm Veat, including partner lawyer Baek Seung-cheol, partner lawyer An Il-woon, senior lawyer Byeon Joon-suk, senior lawyer Jeon Yong-hwan, and senior lawyer Park So-hee, have been selected for the Startup Legal Advisory Panel, serving as an opportunity to once again demonstrate their expertise and capabilities. The lawyers from Law firm Veat included in this advisory panel are expected to contribute their best to resolving legal difficulties based on their experience in advising on legal issues arising in the growth process of new industries and new technology startups. Thank you. From Law firm Veat
Law firm Veat, Attorney Guk Myung Soo, contributed a column entitled 'ESG Investment Principles and Changes in Alternative Investment'.
Law firm Veat’s Guk Myung-soo Attorney contributed a column on “ESG Investment Principles and Changes in Alternative Investment” to Chungcheong Times. This column deeply analyzes the impact of ESG (Environmental, Social, and Governance) investment principles on finance and alternative investment. Introduction to Key Content of the Column
Drafting shareholder agreements for co-founded startups
Law firm Veat received a request to draft a shareholders’ agreement for Startup A (hereinafter referred to as “the client”) which is a jointly-founded startup. The client requested legal advice to define the clear equity structure and division of roles among the founding members and to reconcile the interests of the shareholders. Law firm Veat drafted a shareholders’ agreement incorporating the content needed by the client, ensuring that the jointly-founded members can foster a sense of ownership of the company's shares by holding shares, and stipulated penalties for violation of obligations in the shareholders’ agreement to give the agreement legal binding force. Advantages of a Shareholders’ Agreement A shareholders’ agreement is a contract defining the rights and obligations of shareholders who hold shares in the company. A shareholders’ agreement plays a crucial role in clarifying the company’s governance structure, preventing disputes among shareholders, and securing the stability of the company's operation. It has the advantage of restricting the free transfer of shares by stipulating methods such as granting a right of first refusal to existing shareholders when a shareholder transfers their shares to others, protecting management rights, and stipulating approval procedures for shareholder meetings or the board of directors for major decision-making matters, ensuring a transparent decision-making process. In addition, it can clearly define matters relating to the payment of dividends, clearly define the obligations and responsibilities of the shareholder to the company, and secure the consistency of the company's operation. To clearly define the equity structure and division of roles among the founding members and meticulously reconcile the interests of the shareholders, you should discuss with a legal advisor with abundant experience in startup consulting to prevent shareholder disputes and increase the stability of the company's operation. Law firm Veat has successfully supported numerous startups from the early stages, and is providing the client with the optimal legal solutions based on the know-how accumulated through this experience. Law firm Veat, which has grown with hundreds of companies, from Unicorn to Decacorn, will help you resolve various legal issues and pave the way for growth. Thank you. Sincerely, Law firm Veat
Performing foreign exchange transaction reporting regarding securities acquisition via patent assignment method.
Law firm Veat received a request from a domestic corporation A (hereinafter referred to as "the client") to proceed with foreign exchange transaction reporting regarding the acquisition of securities through patent provision. The client had a special form of securities acquisition, receiving stock payments through the method of patent transfer or similar means, requiring a complex process of thoroughly reviewing and preparing necessary documents and contract details for foreign exchange transaction reporting, including patent documentation. Therefore, they sought out Law firm Veat Foreign Exchange Reporting Center. Law firm Veat Foreign Exchange Reporting Center performed the securities acquisition reporting necessary in the series of processes where the client allows the counterpart to use or transfers the client's patents and acquires the counterpart's stocks in return, and provided detailed explanations of the contract terms before contract execution. Importance of Foreign Exchange Transaction Reporting
Law firm Veat, Appoints Partner Attorney Guk Myung Soo
Law firm Veat recently brought on National-soo Byun as a new attorney. We are very pleased to welcome National-soo Byun, who has a variety of experience and abundant expertise. With the addition of National-soo Byun, who possesses expertise in the ESG (Environment, Society, and Governance) field, Law firm Veat will provide even more differentiated legal services. The following is an interview with National-soo Byun to introduce his expertise and career. [ Interview with National-soo Byun ] Q: What prompted you to join Law firm Veat? A: Law firm Veat is known for providing innovative and professional legal services. I was drawn to Law firm Veat's vision of providing the best legal services to clients. In particular, I felt a great attraction to the ability to strengthen Law firm Veat’s strengths by utilizing my experience and knowledge accumulated in various fields in the ESG field. Q: Could you briefly introduce yourself and your major career highlights? A: I graduated from Seoul National University School of Law and passed the 52nd bar exam, completing the 42nd Judicial Research and Training Institute. I hold a Certified Investment Asset Manager qualification and served as the head of the PE headquarters at Truston Asset Management and as the legal and business development manager at Reclin Holdings (Macquarie Capital Environmental Industry Investment Platform). I also worked in the holding company legal/compliance support team of LG Group and the overseas legal team of LG CNS. Currently, I serve as an adjunct professor at the Smart EID College of Engineering at Chungkang National University, lecturing on renewable energy technology and utilization and waste-to-energy processes. Q: What have been your major activities and achievements so far? A: I have achieved many results through various projects and investment activities. These include setting up and operating a general private equity fund for the development of renewable energy with anchor investment participation by the largest private RPS operator in Korea, equity investment in a 60MW brackish agricultural land solar power generation project, and setting up and operating a closed-end private equity fund investing in waste recycling and resource utilization industries. I have also participated in various renewable energy and environmental related projects, including investment in a waste upcycling company using robotics technology and investment in a carbon resource company converting greenhouse gases into hydrogen. Q: How have you utilized your expertise in the ESG field? A: ESG is one of the areas I focus on the most. I have strived to realize ESG principles in various projects, such as waste recycling and resource utilization and renewable energy generation projects. I have also contributed to strengthening companies' environmental and social responsibilities and realizing sustainable management. Currently, as an adjunct professor at the Smart EID College of Engineering at Chungkang National University, I am combining academic research and practical experience by lecturing on renewable energy technology and utilization and waste-to-energy processes. Q: What are your goals for Law firm Veat? A: At Law firm Veat, I want to solve legal challenges in the ESG field and provide the best legal services to clients. In particular, leveraging my experience in the renewable energy and environmental industry, I will provide even more innovative and sustainable legal solutions. I will help clients achieve sustainable development by realizing ESG principles. Q: Is there anything else you would like to say? A: I am very pleased to be joining Law firm Veat. Moving forward, I will do my best to grow with the team and provide the best legal services to clients. Leveraging my expertise in the ESG field, I will support many companies to realize sustainable management. I look forward to your expectations and support. With the addition of National-soo Byun, Law firm Veat will provide even more professional legal services. Through National-soo Byun’s ESG expertise and experience, we will do our best to contribute to the growth and development of Law firm Veat’s clients. Thank you. Law firm Veat
[Veat&Zuzu] Private Investment Fund GP Things to Know Before Investment Contract Webinar Application Open
Law firm Veat specializing in venture companies and IT startups, and ZUZU, the No. 1 shareholder management platform, have prepared a special webinar on topics that individual investment combination GPs should know before investment contracts. This webinar will be held in 2 parts: [Part1 Understanding Investment Contracts, Key Points], and [Part2 Startup Investment Contracts, Everything You're Curious About]. In Part1, Understanding Investment Contracts, Key Points, we will provide information that should be known before investment contracts, such as regulatory considerations when investing in individual investment combinations, major clauses and negotiation points of share subscription agreements and shareholder agreements, and key negotiation points of convertible notes (SAFE), and in Part2, we will have a Q&A time based on questions collected from participants regarding investment contracts in advance. This special webinar presented by Law firm Veat and ZUZU will be an opportunity to clearly understand the legal aspects that individual investment combination GPs must know before investment contracts. Applications for this special webinar are possible until 2024.07.18 (Thursday) at 12:00 PM, so we ask for your interest and participation. ◆Webinar Overview◆ Lecture Topic: Topics that individual investment combination GPs should know before investment contracts Lecture Date & Time: 2024. 07. 18 (Thursday) 16:00~17:00 Application Method: Eventus event page Application Fee: Free ◆Webinar Content◆ Part 1: Understanding Investment Contracts, Key Points Regulatory considerations when investing in individual investment combinations Major clauses and negotiation points of share subscription agreements and shareholder agreements Key negotiation points of convertible notes (SAFE) Part 2: Startup Investment Contracts, Everything You're Curious About Q&A time based on questions collected from participants ◆Webinar Participant Event◆ Investment contract and commentary provision, and discount on individual investment combination management service!
Review of the Articles of Association for Employee Stock Options in Accordance with the Revised Venture Company Act
Law firm Veat received a request from venture company A (hereinafter referred to as "the client"). We performed a review of the articles of association in accordance with the "Special Act on the Promotion of Venture Companies" (hereinafter referred to as "the Venture Company Act"). The startup advisory team of Law firm Veat thoroughly reviewed the existing articles of association of venture companies in accordance with the amended Venture Company Act. In particular, we comprehensively reviewed whether to reflect the revised legal matters centered on the clauses related to the granting of stock options, and revised the articles of association’s clauses related to stock options to provide to the client. At the same time, we provided the client’s management team with a detailed explanation of the revision of the Venture Company Act and its impact. What is the "Special Act on the Promotion of Venture Companies" to be enforced on July 31, 2024? The "Special Act on the Promotion of Venture Companies" changed its name from the "Special Act on the Promotion of Venture Companies" and changed from a temporary law that set the application period of the law to December 1, 31, 2027, to a permanent law. Through this, a legal basis has been established to enable more sustainable and stable support for venture companies. We officially introduced a performance-based stock system by articles of association, along with stock options, which plays an important role in attracting and retaining talent. In particular, a venture company support specialized institution system was newly established, enabling the Minister of SMEs and Startups to designate a specialized institution for the revitalization of venture companies. Through this, it is possible to provide long-term and systematic support for venture companies. Venture investment type requirements have been clarified, meaning that venture companies must be evaluated by a venture company confirmation institution to have the corresponding requirements to be recognized as a venture company, thereby strengthening the transparency and reliability of venture companies. Because being recognized as a venture company allows you to enjoy various tax, financial, personnel, location, and overseas expansion related benefits stipulated in the Venture Company Act and related laws, we recommend that you receive legal advice through a venture company law firm to find out whether you are eligible for the Venture Company Act and what areas you can receive legal assistance. Venture-focused law firm Veat was selected as a notable boutique law firm in Legal Times 2023 Corporate and M&A league table. This demonstrates that Law firm Veat provides professional legal services in various fields and is recognized as a notable law firm in the corporate legal market. Law firm Veat will continue to actively respond to changing legal environments and strive to provide clients with the best legal solutions. If you have any questions related to various corporate legal issues that may arise in venture companies and startups, please contact Law firm Veat. Thank you. Law firm Veat