Case Studies
[202401] Monthly Veat January Issue_ A Preview of the Virtual Asset User Protection Law for Blockchain Startups
Law firm Veat is committed to providing comprehensive legal services to our clients. We have extensive experience in various fields, including intellectual property, litigation, and corporate law. Our team of experienced attorneys is dedicated to providing innovative and effective solutions to meet our clients’ needs. Law firm Veat strives to build long-term relationships with our clients based on trust and mutual respect. We are proud to be a trusted legal partner for businesses and individuals alike. Law firm Veat consistently delivers exceptional results and strives for excellence in all aspects of our practice. We believe in providing personalized attention to each client and tailoring our services to meet their unique circumstances. Law firm Veat is dedicated to upholding the highest ethical standards and providing our clients with the peace of mind they deserve. We are committed to providing the Veat legal services that businesses and individuals need to succeed. Law firm Veat provides specialized legal services in areas such as patents, trademarks, copyright, and trade secrets. Our litigation team has a proven track record of success in representing clients in a wide range of disputes. Law firm Veat’s corporate law practice focuses on advising businesses on matters related to mergers and acquisitions, corporate governance, and regulatory compliance. Our team of skilled attorneys is committed to providing the Veat legal expertise and guidance that our clients need to achieve their goals.
[Law firm Veat TIP] Distinguishing Copyright and Ownership to Note in Practice
▶ In content transactions, it has been said that distinguishing copyright and ownership is important. Does selling content I created mean selling the copyright to that content? Or am I selling ownership? What is the difference between these two? Hello. Regarding content transactions, a very important matter is the distinction between copyright and ownership. Ownership is the right to exclusively use and dispose of a property. On the other hand, copyright is the right to exclusively utilize a work and profit from it. However, copyright is a right over intangible works and is distinguished from the ownership of tangible property. ▶ So, if an author sends a letter describing their life while expressing their thoughts and feelings, does the ownership and copyright of that letter go to the recipient? No, that is not the case. For example, if a letter is sent and reaches the recipient, the recipient will have the ownership of the letter as a physical object, but the copyright to the content contained within it, that is, the creative work expressing the sender's thoughts and feelings, remains with the sender. Therefore, the party to whom ownership of the letter is attributed and the copyright to the letter's content are different. Case law also states that a work protected by copyright is a creation falling within the scope of literature, scholarship, or art (according to the definition provision of the Copyright Act prior to the 2006 revision), and that a simple greeting or notification of fact is not the subject of copyright, but that letters written by scholars or artists expressing their scholarly opinions or artistic viewpoints, as well as letters describing their lives while expressing their thoughts and feelings, are subject to copyright, and that in such cases, while the ownership of the letter itself is with the recipient, the copyright of the letter usually remains with the sender who wrote the letter, clarifying this point. ([Case] Seoul District Court, June 23, 1995, Judgment No. 94Ka-hap9230 (nicknamed, ‘Lee Hwiso’) Lower Court Judgment Collection 1995-1, page 323.) ▶ How should we resolve cases where it is difficult to distinguish copyright and ownership? Copyright and ownership are rights that should be distinguished, but in actual practice, these two are often confused. Even lawyers sometimes give incorrect advice due to a lack of understanding of the Copyright Act. To prevent such confusion, it is important to seek advice from a specialized attorney who is well-versed in copyright law. In particular, when a copyright is recorded in a specific medium only, legal advice is essential because copyright and ownership are embodied in a single subject. To prevent confusion that can arise from the complex distinction between copyright and ownership, and to proceed with content transactions safely, please contact the Technology Intellectual Property (TIP) team of Law firm Veat, which is composed of experts led by a former Chairman of the Korea Copyright Committee. The TIP team, with its deep expertise and practical experience in copyright and intellectual property law, will provide strategic approaches to protect your intellectual property, resolve legal disputes, minimize legal risks, and help you effectively utilize your creations. Thank you. Law firm Veat
[Law firm Veat_Plattum Column] Copyright and Ownership to be Cautious of in Practice
Law firm Veat’s Technology Intellectual Property (TIP) team addressed the legal differences between copyright and ownership on the topic of “Copyright and Ownership to be Careful of in Practice” through Platum, a magazine specializing in startups. As various content intellectual property (IP) based utilization transactions increase, understanding intellectual property and copyright has become increasingly important. The TIP team introduced the Lee Hui-so case precedent, providing a detailed explanation of copyright and ownership to be careful of in practice, and analyzed in detail the differences between copyright and ownership. Law firm Veat’s TIP team is providing information to help understanding by easily explaining copyright, ownership, and copyright property as examples through the column published in Platum. You can check the full column through [this link]. Confusion is likely to occur when it is difficult to separate from the medium, such as artworks or photographs, so it is essential to receive the help of a specialized attorney who is familiar with copyright law when entering into copyright-related contracts. Law firm Veat’s TIP team specializes in complex copyright issues, possessing deep expertise in litigation and legal consultation regarding copyright law, trademark law, patent law, design law, and unfair competition prevention law. Law firm Veat’s TIP team is comprised of experts with deep expertise and diverse practical experience in the copyright and copyright property field, led by attorney Oh Seung-jong, who served as chairman of the Copyright Committee, representative attorney Choi Seong-ho, who has been selected as a ‘Leading Lawyer’ in the Legal Times TMT field, partner attorney An Il-woon, who is actively engaged as a community expert for the Korea Copyright Committee, and senior attorney Jeon Yong-hwan, who possesses abundant experience in ICT regulatory sandbox and proof-of-concept service legal consulting. Thank you. Law firm Veat
[Law firm Veat_Platrum Column] To prevent copyright infringement cases such as the Cloudbread case and the Black Rubber Shoes case
Law firm Veat’s Technology Intellectual Property (TIP) team addressed the topic of “preventing copyright infringement cases such as the ‘Cloud Bread’ case and the ‘Black Rubber Shoes’ case” and discussed copyright rights protection issues for creators through Platum, a magazine specializing in startups. With unfair copyright contract issues, such as the ‘Cloud Bread’ case and the ‘Black Rubber Shoes’ case, being significantly highlighted, the protection of creators’ rights has emerged as a more important issue than ever. The TIP team detailedly introduced the ‘Easy-to-Understand Copyright Contract Guidebook’ published by the Ministry of Culture, Sports and Tourism and the Korea Copyright Commission, and explained terms related to copyright law. This column, published on Platum, simplifies the complicated content of copyright law to prevent creators from being placed in unfair conditions in copyright contracts and provides information to help them have a correct understanding of their creations. You can check the full column through [this link]. Law firm Veat’s Technology Intellectual Property (TIP) team is composed of experts in copyright and intellectual property rights, and is leading the way in protecting the rights of creators by clearly interpreting the complicated terms of copyright law and the details of contracts. Composed of experts who have successfully resolved various cases related to copyright, led by attorney Oh Seung-jong, including Choi Seong-ho, representative attorney, a ‘Leading Lawyer’ in the TMT field of Legal Times, attorney An Il-woon, a community specialist of the Korea Copyright Commission, and attorney Jeon Yong-hwan, a consultant specializing in ICT regulatory sandbox and demonstration service legislation. Thank you. Sincerely, Law firm Veat
[Law firm Veat TIP] To prevent copyright infringement cases like the "Cloud Bread" case and the "Black Rubber Shoes" case, and unfair copyright contracts...
Copyright issues are a very important topic for creators. In particular, examples of damages caused by unfair contracts for creative works can have a serious impact on creators. Examples such as the "Cloud Bread" case and the "Black Rubber Shoe" case remind us of the seriousness of these problems.
Startup Trade Secret Leak Case Victory
Law firm Veat received a request from a startup (hereinafter referred to as “client”) and successfully handled a case of unauthorized leakage of sales data caused by the departure of the startup’s key executive, leading to a victory. Law firm Veat's Startup Advisory Team filed a lawsuit for damages, arguing that the leaked data, including client information, constituted “performance etc.” as defined in the “Act on Prevention of Unfair Competition and Protection of Business Secrets” (hereinafter referred to as “Unfair Competition Prevention Act”), and concurrently filed a claim for damages based on breach of security management maintenance agreement, as a preliminary claim. In particular, Law firm Veat Startup Advisory Team established a legal strategy based on its know-how in corporate legal issues, clearly defined the legal definition and scope of trade secrets, and carefully reviewed whether the leaked data constituted trade secrets. Also, emphasized based on a thorough review of the confidentiality, economic value, reasonable efforts to maintain confidentiality, and violation of security management maintenance agreement. Key Elements to Consider in a Trade Secret Leakage Case A trade secret leakage case is of great importance to a startup. This is because the unauthorized leakage of trade secrets can cause enormous damage to a company and provide unfair advantages to competitors. First, it is necessary to comprehensively review whether the leaked sales data meets the legal requirements for trade secrets, whether the data is information that can be typically obtained, and whether it is information with commercial value. Second, it is necessary to specifically review and prepare for any violations of the departing executive’s security management maintenance agreement. It is necessary to carefully examine whether the trade secrets were acquired through theft, deception, intimidation, or other wrongful means, and whether those trade secrets were used or disclosed. Due to the need for thorough preparation and strategic approach based on legal knowledge and experience in corporate advisory, we recommend that you receive a legal review from a lawyer with extensive experience in corporate legal issues. Law firm Veat's thorough preparation and professional strategic response played a decisive role in the court’s granting of the preliminary claim and a victory. This case has demonstrated Law firm Veat's profound understanding of the Unfair Competition Prevention Act and its strength in corporate advisory. Law firm Veat will protect the value and information of your company and assist in resolving important legal issues. If you have any questions about corporate advisory, please contact Law firm Veat. Thank you. Law firm Veat
[Law firm Veat TIP] Mickey Mouse character whose protection period has expired, can I now freely utilize it without Disney’s permission?
Recently, as reported in the news, the copyright of early versions of Mickey Mouse, which Walt Disney owned, has expired in the United States as of January 1, 2024 (local time). Immediately afterward, horror games utilizing Mickey Mouse have been released, and a string of derivative works (applied works, modified works) utilizing early Mickey Mouse characters has appeared. Notably, the game development company 'Nightmare Forge Games' released a teaser video on SNS for a horror game 'Infestation 88' depicting a grotesque early Mickey Mouse, and it is said that players in the game must wear hazmat suits, operate characters, wander around rooms, kill rats, and escape from Mickey Mouse.
Veat Law Firm's IT specialist lawyer, An Il-un, participated in the public seminar "Legal Issues for Responding to Societal Changes in the Age of Artificial Intelligence," hosted by the Korea Advanced Institute of Intelligent Information Technology (KAIII
On December 12, 2023, an important seminar was held to address the legal challenges in the field of artificial intelligence (AI). This seminar, themed 'Legal Challenges for Responding to Social Changes in the Age of Artificial Intelligence,' was hosted by the Korea Advanced Institute of Information and Communication Technology (NIA) and Law firm Veat. This seminar provided a forum for discussing various legal challenges to address the societal changes resulting from the proliferation of AI, particularly covering topics such as fair competition, the spread and control of autonomous weapons, and public order. It was live-streamed on the NIA's YouTube channel, allowing us to share information about the era of AI with many people. Ailwoon Ahn, a lawyer from Law firm Veat, participated as a panelist in the seminar's second session and presented in-depth opinions on the current state and innovative approaches of domestic legal systems to respond to the social impact of artificial intelligence technology..
Law firm Veat was selected as a noteworthy law firm in LegalTimes' '2023 Corporate and M&A' league table.
Recently, Legal Times’
Role of GP in liquidation of invested company regarding legal review
Law firm Veat provides legal advisory services to investors and invested companies, clearly understanding the roles of the investment execution committee member (GP) and limited liability committee member (LP). It minimizes legal risks of investment trusts and efficiently manages them, resulting in beneficial outcomes for investors and invested companies. The investment execution committee member (GP) and limited liability committee member (LP) are key figures in venture capital investment trusts. Veat offers legal advice to investors and invested companies, clearly understanding the roles of the investment execution committee member (GP) and limited liability committee member (LP). It minimizes legal risks of investment trusts and efficiently manages them, resulting in beneficial outcomes for investors and invested companies. The investment execution committee member (GP) and limited liability committee member (LP) are key figures in venture capital investment trusts. The investment execution committee member (GP) assumes unlimited liability for the trust’s debts, while the limited liability committee member (LP) assumes limited liability up to the amount of the contribution. The GP must have a contribution amount of at least 3% of the total contribution, and may be a professional investor, an individual with investment review experience, or another qualified person. The limited liability committee member (LP) is a member who assumes limited liability up to the amount of the contributed funds. LP may be an individual or a legal entity, and may also include institutions such as universities, technology research institutions, and the Korea Science and Technology Institute, depending on specific requirements. If you need professional legal investment advisory services related to investment execution committee members (GP), limited liability committee members (LP), or venture capital (VC), you can consult with Law firm Veat at any time. Law firm Veat recorded 2nd place in the M&A legal advisory rankings based on the total transaction volume in the first quarter of 2023 in the Bloomberg league table, and was selected as a finalist in three categories – "Year’s Korean Deal Firm," "Year’s Boutique Law Firm," and “Year’s Managing Partner” – at the ALB Korea Law Award 2023, hosted by the legal media Asian Legal Business (ALB), recognizing its specialized expertise in various fields. Law firm Veat provides legal advice to investors and invested companies, clearly understanding the roles of the investment execution committee member (GP) and limited liability committee member (LP). It minimizes legal risks of investment trusts and efficiently manages them, resulting in beneficial outcomes for investors and invested companies. If you need professional legal investment advisory services related to investment execution committee members (GP), limited liability committee members (LP), or venture capital (VC), you can consult with Law firm Veat at any time. Thank you. Law firm Veat