Case Studies
[202301] Monthly Veat 1st Issue_SELECTED BY THE LEGAL 500
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[eKorea] An Il-won Partner Lawyer_ Lawsuits over AI Copyright for Image Generation are Mounting, What Should Creators Do to Prevent Harm?
Law firm Veat attorney An Il-won conducted an interview regarding the fair use of overseas image generation AI, which was featured in the eKorea article “Image Generation AI Lawsuits Continue, How to Prevent Damage to Creators?” Attorney An Il-won stated, “If the use of large amounts of data for AI learning is legally defined as fair use, it could reduce confusion,” and when asked about the potential for actual legal disputes, he explained that it would be difficult for creators to prove damages caused by AI models, but if the copyright holder successfully proves the AI learning and infringement of rights, the company that trained the AI could be held liable in civil and criminal proceedings. Law firm Veat attorney An Il-won also actively participates as a Korea Copyright Committee Open Source Software License Expert Community’s Committee Member, providing legal advice based on professional insight in the field of intellectual property rights. You can verify the interview conducted by Attorney An Il-won on AI copyright through the link below. (Article Link: [eKorea] Image Generation AI Lawsuits Continue, How to Prevent Damage to Creators?) Thank you. Law firm Veat.
[202211] Monthly Veat 11th Issue_ Enhanced IT Copyright/Intellectual Property TIP Team
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[Legal advice] Providing legal advice regarding the launch of the game “AVATARA” by NX3 Games, a specialized game development company.
Law firm Veat has combined the blockchain token ecosystem into the web3 game, Avatar (AVATARA), developed by NX3Games, a game development specialist company, in order to launch it in the global market. We provided comprehensive legal counsel regarding offshore legal entity structures and regulatory issues. In collaboration with NXIO, NX3Games’ blockchain multi-access role-playing game (MMORPG) Avatar has the characteristics of a cross-platform game supporting PC and mobile, and web apps, and we are supporting avatar NFT transmission from web apps and games, and utilization of Binance payment solutions, combined with the blockchain token ecosystem. Law firm Veat provided legal counsel on offshore legal entity structures to NX3Games as it launches Avatar globally in the market, and we drafted all documents, including English contracts, such as software development and technical support service contracts, platform service contracts and operation management contracts, and marketing partnership contracts, necessary in the process of launching, based on Law firm Veat’s professional know-how specializing in IT. Law firm Veat was introduced as a law firm to be noticed in the field of startup advisory for technology-based startups by the international law firm rating agency THE LEGAL 500, and moving forward, Law firm Veat will continue to be a boutique law firm providing professional legal counsel in the next-generation ‘IT/Technology’ field related to blockchain. Thank you. Law firm Veat.
[iNews24] Songdo Young Representative Attorney_How do Metaverse-related bills in the National Assembly differ?
Law firm Veat’s opinions on the metaverse legal proposals featured in the iNews24 article “[IT돋보기] How do the metaverse-related bills introduced in the National Assembly differ?” Regarding the regulatory approach to metaverse legal proposals, Mr. Songdo-yeong, Managing Partner, stated, “Given that it is expected to converge with various fields such as finance, healthcare, industry, logistics, and education, a self-regulatory approach driven by the private sector should be pursued according to the field, and the government should support appropriate self-regulation. We hope for a suitable alternative to be prepared during the National Assembly’s review process, considering that it is an early stage of the industry, and we need to draft legislation focusing on promotional elements rather than regulatory elements, and to refine the proposals through future revisions. Law firm Veat’s deep insights and professional opinions are being provided as an expert attending the Metaverse Government Coordination Committee. You can check the article where Mr. Songdo-yeong provided opinions on the metaverse legal proposals through the following link: (Article Link: [IT돋보기]How do the metaverse-related bills introduced in the National Assembly differ? Thank you. Law firm Veat.
[Veat News] Partner Attorney Songdo-yeong attended a discussion on establishing a foundation for industry-based legal frameworks regarding the metaverse and technology.]
Veat’s Songdo-yeong Representative Attorney participated in the ‘Metaverse: Discussion on Establishing Foundation Laws from Technology to Industry,’ held at the National Assembly Building, and analyzed related bills and introduced the characteristics of each bill. The discussion held in the 1st Seminar Room of the National Assembly Building regarding the ‘Metaverse Industry Promotion Act Draft’ was conducted considering the special characteristics of the metaverse and for the promotion of the metaverse industry. At the ‘Metaverse: Discussion on Establishing Foundation Laws from Technology to Industry’ event, Veat’s Songdo-yeong Representative Attorney analyzed bills related to the metaverse that were introduced at the National Assembly and introduced the characteristics of each bill, with attendees from the Metaverse Software Association, the Ministry of Science and ICT, the Korea Metaverse Industry Association, and the National Science and Technology Committee. Veat’s Songdo-yeong Representative Attorney is providing optimized legal advice in information technology (IT) related fields, including the metaverse, based on professional insight and broad understanding of new industries related to the metaverse. If you are curious about articles related to the ‘Metaverse: Discussion on Establishing Foundation Laws from Technology to Industry,’ which Songdo-yeong Representative Attorney attended, please refer to the following link. (Article Link: Metaverse, ‘Industry’ Recognition Required? “Legal Basis Must Be Clear”) Thank you. Veat Wishes You Well
[Veat News] Partner Jo Eun-byeol Receives Commendation from Minister of Science and ICT
Law firm Veat Jo Eunbyeol partner lawyer contributed to the promotion of the digital content industry and was awarded the Minister of Science and ICT Commendation Badge. The Ministry of Science and ICT held a commendation award presentation ceremony on January 13th. This commendation was granted to individuals who contributed to the promotion of the digital content industry. Law firm Veat Jo Eunbyeol partner lawyer has a deep understanding of the digital content industry and actively participated in consulting activities at the Korea Information Content Transmission Agency and the Personal Information Protection Committee, contributing to the promotion of the digital content industry. Jo Eunbyeol partner lawyer received the Minister's Commendation Badge in recognition of her past achievements. Meanwhile, Law firm Veat Jo Eunbyeol partner lawyer was selected as an Excellent Senior Lawyer in 2020 by the Personal Information Protection Committee and received a commendation award. She is further enhancing her expertise in related fields through this award. Law firm Veat Jo Eunbyeol partner lawyer, led by Jo Eunbyeol partner lawyer, provides a wide range of legal counsel related to various online platforms, tailored to the digital content industry, personal information, and digital economy, and is building the unique expertise of Law firm Veat. Furthermore, Law firm Veat Jo Eunbyeol partner lawyer provides legal counsel in areas such as digital content, information and communication technology, personal information, and intellectual property rights, based on its expertise in the entire digital content industry, and is gaining recognition from government agencies and various companies. Thank you. Law firm Veat Dream
[Veat News] THE LEGAL 500, Featured as a law firm to watch in the fintech financial services/technology-based startup advisory category.
Law firm Veat was introduced as a ‘fintech financial services/ technology-based startup advisory area’ firm to be ‘noteworthy law firm’ in THE LEGAL 500, an international law firm rating organization. THE LEGAL 500 annually evaluates the capabilities of global law firms based on the submitted materials of law firms, interviews with specialized lawyers in each field, and feedback from 300,000 clients using various criteria. Law firm Veat is a boutique law firm providing professional legal advice in the next-generation ‘IT/technology’ areas such as fintech, financial services, e-commerce, blockchain, and venture capital. In particular, partners Mr. Seongho Choi and Mr. Songdo Young are providing effective legal advice based on their extensive experience and know-how related to the ‘fintech financial services/ technology-based startup advisory area’ emphasized by THE LEGAL 500. Furthermore, lawyers with deep understanding and legal knowledge of IT, including Mr. Seungcheol Baek, partner lawyer recognized by the Korean Bar Association as ‘IT specialist’, and partner lawyers Ms. Joeun Byeol, a member of the Personal Information Protection Committee, and Mr. Anil An, a partner lawyer from a developer background, are stationed. If you need legal advice in fintech, IT/technology areas, or regular consultation, please contact Law firm Veat at any time. Thank you. Law firm Veat wishes you well.
[Consultation] Review of Terms of Use, Privacy Policy, and Legal Review
Law firm Veat reviewed the terms of service and privacy policy for A, a tech startup specializing in influencers, on behalf of its client. A specializes in supplying content created through celebrities and influencers online, and requested legal review regarding terms of service and related matters. Law firm Veat verified the issue of registration as an Electronic Payment Agent (PG) under the Electronic Financial Transaction Act, given that A uses a payment method for compensating celebrities, influencers, and other clients, and provided guidance and reviewed the business model and relevant agency interpretations to offer opinions regarding the direction of service operations. The terms of service contain comprehensive information from the initial registration stage through service usage, cancellation, withdrawal of offers, and refunds, playing a crucial role in resolving disputes with consumers. The terms of service and privacy policy are of significant interest to consumers regarding e-commerce and personal information issues, and their importance is growing day by day. Law firm Veat is conducting thorough legal review to ensure that the client’s services are fully encompassed within the terms of service and privacy policy, including personal information processing consent and consent to receive marketing information, and provides professional legal advice on all aspects necessary for service usage. If you require assistance with the preparation of terms of service and privacy policy, or legal advice, please do not hesitate to contact Law firm Veat. Thank you. Law firm Veat.
[Consulting] Providing legal advice on M&A related to the sleep specialist brand “Veat” (Sambunmi-il).
Law firm Veat provided all legal advisory services required in the process of Thirty-One (삼분의 일) acquiring Veat, a sleep data technology company, which was founded as a sleep specialist brand and was acquiring Thirty-One’s data technology company, in the process of Thirty-One’s acquisition of Veat. Thirty-One aimed to strengthen its technological competitiveness for expanding the sleep tech market through this M&A, and will apply Thirty-One’s know-how and Veat’s excellent technology to the products to be released later. Veat, a sleep specialist company acquired by Thirty-One, is a company that develops and sells sleep state measurement sensors and has branches both domestically and internationally, and has received $40,000 in funding from the Kickstarter cloud funding site in the US after precisely measuring data. Law firm Veat provided all legal review documents related to this transaction, including stock transfer agreements, stock exchange agreements, and shareholder agreements, during the process of Thirty-One acquiring Veat, which is a invested company. Furthermore, Law firm Veat made every effort to ensure the successful completion of this M&A by conducting a due diligence and carrying out an active communication based on the extensive know-how accumulated from conducting various M&A over the years. Law firm Veat recorded 4th place based on the total transaction count in the 2021 Bloomberg annual M&A league table and proved its expertise as a leading M&A company. Law firm Veat will assist in making M&A that satisfy both the acquirer and the acquired company based on the know-how provided to various corporate clients. Thank you. Law firm Veat.