Case Studies
Broadcasting platform's new service trademark infringement and Unfair Competition Prevention Act review.
Law firm Veat received a request from broadcasting platform A (hereinafter referred to as "the client") to review trademark infringement and violation of the Unfair Competition Prevention Act regarding the platform's new service. The Law firm Veat TIP team focused on whether trademarks could be infringed when the client's new service connects with another company’s streaming intermediary platform without going through the other company’s API, or when exposing each other. First, the Law firm Veat TIP team reviewed whether the client's new service uses another company’s trademark, and whether such use constitutes trademark infringement. In addition to the issue of trademark infringement, we also additionally reviewed potential legal issues arising from the 「Act on Prevention of Unfair Competition and Protection of Trade Secrets」 (hereinafter referred to as "the Unfair Competition Prevention Act") and the 「Act on Promotion of Information and Communication Network Utilization and Information Protection, etc.」 (hereinafter referred to as "the Information and Communication Network Act"). In particular, we advised clients to carefully review whether developing services that connect with other companies’ services without their permission constitutes unfair access and data acquisition through the information and communication network, and to ensure compliance with the Information and Communication Network Act and related laws. The Importance of Trademarks A trademark is a mark used to distinguish one’s goods from those of others. The trademark owner informs consumers that a product or service is theirs through the trademark, induces them to purchase or use the service, and obtains economic benefits. However, infringing on such trademark rights leads to another company utilizing their trademark on goods or services, leading them to believe that the trademark belongs to them, and robbing them of their economic benefits. Before using a trademark, check whether the trademark is already registered. If the trademark is registered, it is advisable to obtain the trademark owner’s consent or license before using it. If the trademark owner proceeds without this consent procedure, they may demand an injunction against infringement and damages. Furthermore, using another company’s trademark or service mark unfairly, causing consumer confusion or damaging another’s reputation, may constitute a violation of the Unfair Competition Prevention Act. Therefore, it is important to seek assistance from a trademark attorney with extensive experience in trademark rights and intellectual property to minimize legal risks and develop a strategy for safely utilizing trademarks, including checking whether permission from the trademark owner is required before using their trademark, whether the use is within the scope of their rights, and how the trademark procedure proceeds. The Law firm Veat TIP team provides optimized legal advice based on the client's necessary trademarks and intellectual property rights and the circumstances. The Law firm Veat TIP team is led by Oh Seung-jong, who served as Chairman of the Copyright Committee, and includes Choi Seong-ho, Representative Attorney selected as a "Leading Lawyer" in the Legal Times TMT field, An Il-woon, Attorney actively engaged as a specialist of the Korea Copyright Committee, and Jeon Yong-hwan, Attorney with extensive experience in ICT regulatory sandbox and pilot service legal consultation. We have abundant experience and expertise in legal consultation in the fields of intellectual property rights, unfair competition prevention, and related laws. If you need help with trademark rights, copyrights, design rights, or the Unfair Competition Prevention Act, please contact Law firm Veat. Sincerely, Law firm Veat
Influencer Affiliate Online Marketing Contract Legal Review
Law firm Veat performed a review of affiliate marketing contracts between a web-based SaaS solution service provider (hereinafter referred to as "customer") and influencers. Law firm Veat's content team focused on key legal review items in the process of drafting and reviewing affiliate marketing contracts between the customer and influencers. First, to prevent disputes between the contracting parties and ensure transparent financial processing, Law firm Veat’s content team clearly stipulated the profit settlement standard, settlement method, and payment procedures in the contract. It clearly defined the scope of marketing activities that the influencer should perform and the items that the customer should support, thereby detailing the rights and obligations of each party regarding the marketing activities. In particular, it stipulated compensation conditions for damages that may occur if the defined content is not fulfilled to prevent legal disputes. Furthermore, a provision was added to allow for restrictions when an influencer who entered into the contract promotes a competitor’s products during the contract term. However, it was set within a fair range to avoid excessive restrictions and to guarantee the influencer's freedom of activity. In addition, Law firm Veat’s content team reviewed matters to be noted when entering into a contract with an influencer who has already entered into a contract with another company, and thoroughly explained to the customer the contract period, termination conditions, possibility of contract violation, and restrictions in the event of a violation, to ensure that the contract proceeds safely. What is Affiliate Marketing? Affiliate marketing is a marketing strategy in which a company cooperates with another company to promote its products or services. Companies utilizing this strategy have the advantage of reaching a wider customer base and increasing brand awareness through cooperation with influencers. An affiliate marketing contract is an important legal document that clearly defines this collaborative relationship and stipulates the rights and obligations of both parties. When proceeding with an affiliate marketing contract, it is necessary to clearly state specific details such as the volume of content, schedule, contract cost, and settlement criteria through the project in the contract to ensure that marketing activities proceed smoothly. An affiliate marketing contract with an influencer is not merely a marketing collaboration but a document with legal effect, requiring accurate legal review. Therefore, it is important to have a content attorney and legal review who has reviewed various affiliate online marketing contracts to minimize potential legal risks in the process of drafting an affiliate marketing contract. Law firm Veat provides legal advice based on its expertise in online marketing-related legal issues and helps customers minimize legal risks and develop effective marketing strategies with peace of mind. In particular, Song Do-young, Representative Attorney of Law firm Veat, has been appointed as an arbitration committee member of the Korea Internet & Security Agency (KISA) Online Advertising Dispute Arbitration Committee, and is actively engaged based on deep expertise and years of experience in resolving various online advertising dispute cases. With its expertise, Law firm Veat helps protect the interests of both influencers and companies, so if you need legal advice regarding affiliate marketing or online advertising and marketing, please contact Law firm Veat. Thank you. Law firm Veat
Location-based service platform terms of service, privacy policy, and location-based service terms of service drafting tasks.
Law firm Veat is a law firm with high expertise in the IT and startup fields, and provides legal advice to various startups. Recently, Law firm Veat performed the task of drafting terms of service, privacy policy, and location-based service terms of service at the request of startup A. The startup intended to operate a location-based place guidance service free of charge, guiding users to specific locations based on their location. Accordingly, Law firm Veat drafted the terms of service, privacy policy, and location-based service terms of service appropriate for A’s service content, and since A’s service is also planned to be provided to minors under the age of 14, it included information related to consent from legal representatives. Startup A was planning an online platform that guides users to specific locations based on their location, and Law firm Veat drafted the following three major terms to ensure that various users can safely use the service: The terms of service specify the basic rules and policies necessary for service use, and also include clauses to minimize legal responsibility in providing the service due to its free service nature. The privacy policy includes basic information on the purpose of collecting and using personal information, the retention and use period of personal information, and the rights of information subjects. It specifically states that consent from a legal representative is required for the processing of personal information of minors under the age of 14. Also, since A plans to provide services based on user location, Law firm Veat comprehensively reviewed how location information is collected and used to provide location-based services, and drafted location-based service terms of use. Law firm Veat drafted terms that accurately reflect the characteristics and requirements of startup A, allowing users to use the service in a safe and reliable environment. In particular, it clearly included information related to consent from legal representatives to provide services to minors under the age of 14, in compliance with legal requirements related to personal information protection. Law firm Veat provides comprehensive consulting services to online service providers such as e-commerce and telecommunications, to ensure compliance with related laws and regulations such as the "Act on Consumer Protection in Electronic Commerce, etc.", the "Act on Promotion of Information and Communications Network Utilization and Information Protection, etc.", and the "Act on Regulation of Standard Clauses." In particular, this law firm identifies the service provision content and type, and the scope of obligations of each business, and performs various tasks such as drafting terms of service, privacy policies, and consent forms that match the specific services provided by the business. Law firm Veat will continue to provide the best legal advice tailored to the needs of customers, supporting the growth and success of startups. If you have any questions about terms of service or privacy policy, please feel free to contact Law firm Veat. Thank you. Law firm Veat
Review cases of articles of incorporation and regulations related to director compensation under the Commercial Law.
Law firm Veat received a request from startup A (hereinafter referred to as the “client”) and reviewed the articles of incorporation related to director compensation and regulations regarding executive compensation and severance pay. Director compensation constitutes an important part of running a company, and must be determined through a transparent and fair procedure. Therefore, Article 388 of the Commercial Code stipulates that director compensation must be stipulated in the articles of incorporation or determined by resolution of the shareholders' meeting. However, we specifically reviewed Supreme Court precedents to determine whether the board of directors could delegate authority regarding specific compensation amounts or payment methods to ensure efficient proceedings, and based on the legal basis confirmed through this review, we drafted articles of incorporation related to director compensation, executive compensation and severance pay regulations. In particular, we clearly defined the scope of delegation by the board of directors, allowing for more rapid and efficient decisions regarding compensation payments. Furthermore, we clearly defined the criteria and procedures for executive severance pay, minimizing the potential for legal disputes upon retirement, reducing uncertainty at the time of executive retirement, and ensuring stable severance pay payments. The Veat Startup Consulting Team, based on extensive startup expertise, detailed the procedures and methods required in practice during the process of conducting procedures related to director compensation. According to Article 388 of the Commercial Code, if the amount of director compensation is not stipulated in the articles of incorporation, it must be determined by resolution of the shareholders' meeting. Therefore, if director compensation is recorded in the articles of incorporation, the procedures outlined in the articles of incorporation must be followed, and if it is not stipulated, the compensation is determined by resolution of the shareholders’ meeting. Even if director compensation is set at a high amount according to the provisions of the articles of incorporation or resolution of the shareholders’ meeting, it is not invalid solely on the grounds that it is excessive. However, a reasonable proportion must be maintained between the duties and the compensation received. Therefore, when determining director compensation, it is important to thoroughly review the articles of incorporation and internal regulations, and to seek advice from experienced legal professionals who have handled cases for various companies. Startup · Venture Capital, etc., Legal Counsel for Various Clients, Law firm Veat Law firm Veat, based on a deep understanding of the startup ecosystem and extensive expertise, provides various legal advice to startups, including shareholder meetings and board meetings, drafting shareholder agreements, and designing stock options. Law firm Veat, which has grown together as legal counsel for a wide range of clients from early-stage startups to venture capital firms, is contributing to increasing the value of startups. Law firm Veat will continuously support the client’s success by providing a regular legal subscription service for the many legal issues considered by early-stage startups/companies. Thank you. Sincerely, Law firm Veat
Law firm Veat joins CODE Alliance, a standardization body for blockchain and virtual asset industries.
A leading legal consultant for the blockchain and virtual asset industries, Law firm Veat, has joined CODE Alliance as an associate member, effective May 16, 2024. CODE Alliance is an important organization that aims for international cooperation and standardization in the field of blockchain technology and virtual assets, and is building the largest and most educationally advanced community in the Web3 and AI fields. By becoming a member of CODE Alliance, Law firm Veat will be more deeply integrated into the international standards and cooperative networks of the blockchain industry, enabling it to further strengthen legal support for blockchain companies and projects. Through this collaboration, Law firm Veat is prepared to support the growth and innovation of the blockchain industry and lead practical changes and developments through collaboration with other member companies within CODE Alliance. Law firm Veat provides specialized legal advice on virtual assets and blockchain, with experts including members of the Korea Bar Association IT Blockchain Special Committee and senior legal counsel for the world’s largest virtual asset exchange, Binance (Binance), and has helped many of our clients with their legal issues by providing optimal solutions such as reviewing whether a virtual asset business operator, token white papers (securities) review legal opinions for exchange listing, overseas legal entity contractual structure and legal due diligence. Collaboration with CODE Alliance will allow Law firm Veat to contribute to the global blockchain community and, in turn, provide more specialized and sophisticated legal advice to many clients who are concerned about blockchain and virtual asset legal issues. For more details on Law firm Veat’s joining CODE Alliance as an associate member, please refer to [this link]. Thank you. Law firm Veat
[202405] Monthly Veat May Issue_Dispute between HYBE and ADOR's CEO Min Hee-jin, What is the key issue?
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AI digital textbook copyright assignment contract legal review
Law firm Veat reviewed the contract setting copyright for the AI-based learning program company A (hereinafter referred to as ‘the client’) for the AI digital textbook for mathematics. The client requested a comprehensive legal review from Law firm Veat to ensure that the contract with a specific author would not conflict with existing copyright agreements. The client’s existing contract included clauses prohibiting the production of other textbooks with content identical or similar to the ‘work,’. The Veat TIP team considered these points and comprehensively reviewed whether the newly contracted AI digital textbook constitutes the same or similar work mentioned in the existing contract, and whether the AI digital textbook falls under the category of a textbook. A review of Article 19(2) of the Revised Elementary and Secondary Education Act and other regulations regarding textbooks reveals that ‘textbook’ refers to textbooks and guides, and ‘textbook’ refers to student-use books used by schools for student education, learning support software utilizing information and communication technology (digital textbooks), and other electronic works such as audio and video. Therefore, the Veat TIP team analyzed in detail whether the AI digital textbook could be recognized as a textbook under the Revised Article 19(2) of the Elementary and Secondary Education Act, the Enforcement Decree, and relevant textbook laws, using these as judging criteria. The Veat TIP team supported the client to proceed with the contract in compliance with the regulations of the Copyright Act and the Education Law and to ensure a safe agreement. Additionally, they explained the parts requiring measures to prevent copyright infringement by reviewing whether it would be the same or similar work. As new forms of digital content, such as AI digital textbooks, become increasingly common, an accurate legal review of how such content is used within existing legal frameworks is essential. It is desirable to have a legal review by a lawyer with extensive experience in reviewing various works, including works with the latest technology, to confirm whether the work has elements of identity or similarity with existing works, complies with intellectual property laws such as the Copyright Act and the Act on Prevention of Unfair Competition and Protection of Trade Secrets, and whether there is a risk of copyright infringement. The Veat TIP (Technology Intellectual Property) team, specializing in copyright and intellectual property legal issues Based on its expertise in copyright and intellectual property issues, the Veat TIP team provides specific and practical legal advice to clients. The TIP team is led by Senior Counsel Seungjong Oh, a leading figure in the field of copyright, Managing Counsel Sung-ho Choi, recognized as a ‘Leading Lawyer’ in the TMT field by Legal Times, Partner Il-woon Ahn, Korean Copyright Committee Community Expert, and Senior Counsel Yong-hwan Jeon, with deep knowledge of ICT regulatory sandbox and practical service legal consulting. In particular,
Contractual legal review related to providing subscription-based cloud services
Law firm Veat received a request from IT startup A (hereinafter referred to as "the client") and conducted a legal review of the contract related to providing subscription-based cloud services. Subscription-based cloud service contracts can have varying service distinctions, usage fees, and contract periods, so Law firm Veat provided legal advice by meticulously reviewing the content of the service, the method for calculating usage fees, and the application of contract periods. Accordingly, we helped establish a fair understanding of interests between the service provider, the client, and the user, and set clear and actionable contract conditions for both parties. Furthermore, an important aspect of cloud service contracts is establishing a plan for handling and storing data after termination of the contract. Law firm Veat's IT consulting team added clauses including provisions allowing data to be stored for a certain period after termination of the contract, or clauses specifying the destruction of data within a certain number of business days, to propose contract clauses that meet the client’s legal requirements for data protection and personal information processing. As cloud service contracts require legal compliance measures based on the service content, Law firm Veat aims to provide legal advice optimized for the service content the client intends to offer.
Legal Review of Non-profit Foundation Acquisition (M&A) Structure of a Corporation
Law firm Veat received a request from Company A (hereinafter referred to as "the client") and reviewed the structure for a corporation to acquire a non-profit foundation (M&A) in Korea. Law firm Veat’s investment team thoroughly analyzed the founding purpose, operating structure, and relevant laws of a specific non-profit foundation, and legally reviewed the possibility of a corporation legally acquiring a non-profit association or foundation. We comprehensively reviewed and advised on methods such as a corporation becoming a member of a non-profit association, acquiring the association’s business, the possibility of acquiring assets through liquidation, or the possibility of merging through organizational changes. What is M&A? Mergers and Acquisitions (M&A) is a process where one company integrates with another company or multiple companies merge into one company for various economic purposes such as improving corporate management efficiency or strengthening market dominance. M&A can be broadly divided into friendly M&A and hostile M&A. Friendly M&A is carried out by the agreement of both parties, while hostile M&A is the case of acquiring management rights without the consent of another company. When attempting to merge or acquire a non-profit association or foundation, the merger or acquisition may be restricted or even legally impossible according to the laws that serve as the basis for the establishment and operation of that organization. Therefore, we recommend that you receive a review with the help of legal professionals who have extensive experience in numerous M&A cases. Investment, M&A specialized lawyers, Law firm Veat’s investment team Law firm Veat supports various companies based on its legal expertise in the complex legal procedures and precise reviews of non-profit organizations, and provides optimized legal advice so that effective M&A can occur, as M&A legal review is not merely a legal task but is closely linked to strategic business decisions. Law firm Veat
[Law firm Veat_Plattum Column] Points to note when using images or videos taken from the internet in your creations.
Law firm Veat's Technology Intellectual Property (TIP) team has, through the startup-specialized magazine Platum, addressed points to note when using images or videos from the internet in creations such as YouTube videos or blog posts. It has explained in detail copyright issues related to digital content due to the development of digital technology and networks. This column details points to note when using content, through examples such as creativity and image libraries. Law firm Veat’s TIP team has provided detailed information necessary for shopping mall companies, travel agencies, and advertising companies through this column published on Platum. You can check the full column through [this link]. Content used by other companies or parts of images or videos on the internet may be protected by copyright, and there may be various legal issues such as being permitted for personal use but not for commercial use. We recommend consulting with a copyright lawyer before use to check for any legal issues with the content. Law firm Veat’s TIP team provides detailed guidance to ensure a clear understanding of copyright and appropriate permission procedures, to ensure accurate content usage and to help prevent copyright infringement risks. Law firm Veat’s TIP team is led by Oh Seung-jong, a lawyer with deep understanding of copyright cases accumulated through various legal consultations and trials, and includes Choi Seong-ho, a representative lawyer recognized as a ‘Leading Lawyer’ in the Legal Times TMT field, An Il-woon, a partner lawyer actively serving as a community specialist of the Korean Copyright Committee, and Jeon Yong-hwan, a lawyer with extensive knowledge of ICT regulatory sandbox and pilot service legal consultation. Law firm Veat TIP team is effectively resolving complex legal issues based on abundant experience and expertise in copyright and intellectual property issues. Thank you. Law firm Veat