Case Studies
Law review on whether a Venture Capital Corporation can provide stock loans.
“Online Investment Linked Financial Institution” refers to a person who has registered an online investment linked financial business by conducting procedures as defined in the “Online Investment Linked Financial Business and Protection of Investors Act” (abbreviated as the Online Investment Linked Financial Business Act) (Article 2, Paragraph 3). Law Firm Veat reviewed whether an online investment linked financial institution could handle stock loans (loans for purchasing shares) based on a query from A Company and provided legal advice. Law Firm Veat is conducting comprehensive advisory services by reviewing related laws such as the Online Investment Linked Financial Business Act based on its experience providing advice to various financial institutions. If you need legal advice regarding the Online Investment Linked Financial Business Act, stock loans, stock loans, and operating on-to-up (on-to-up businesses), please feel free to contact Law Firm Veat at any time. Thank you. Law Firm Veat
[Veat News] Partner Attorney Songdo-yeong, hosted "Metaverse Alliance Launch 1st Anniversary Commemorative Forum" Expert Presentation
Law firm Veat’s Songdo-yeong Representative Attorney participated in the ‘Metaverse Alliance Commemorative Forum for the 1st Anniversary of Launch’ held on July 29th by the Ministry of Science and ICT and the Korea Metaverse Industry Association, presenting on the status of regulations and self-regulation preparation for promoting the metaverse and future directions. The Metaverse Alliance, established in May last year to contribute to the activation of the metaverse industry by building a public-private collaboration system led by private entities and supported by the government, is currently the largest metaverse expert collaboration platform in Korea, operated by the Korea Metaverse Industry Association (K-META), with 829 companies and institutions participating, including metaverse supply and demand companies and industry associations. This event was held as a commemorative forum hosted by the Ministry of Science and ICT and the Korea Metaverse Industry Association to examine the results of operation for one year since the launch of the Metaverse Alliance and provide insights into the metaverse from various perspectives. The event was divided into a 1st anniversary celebration (Part 1) and a specialist forum (Part 2) (Please refer to the schedule below). Law firm Veat’s Songdo-yeong Representative Attorney presented ‘Status of Regulations and Self-Regulation Preparation and Future Directions for Promoting the Metaverse’ during Part 2 of the specialist forum held today. Meanwhile, Law firm Veat provides professional legal counsel based on a deep understanding of metaverse-related laws & regulations and services, spearheaded by Songdo-yeong Representative Attorney. - Related Article(‘Metaverse Alliance’ Already Launched 1st Anniversary...Successful Commemorative Forum) Thank you. Law firm Veat 드림
[Legal Opinion] Review of Technology Transfer Agreement
Law firm Veat concluded legal review of a technology assignment agreement concerning the transfer of software technology, in response to a referral from A Co., which was preparing to enter into the agreement. A Co. requested that Law firm Veat specifically examine whether the transfer object was clearly stated in the agreement and whether A Co. was disadvantaged overall in the technology assignment agreement. In response, Law firm Veat provided legal counsel by deeply examining the technology assignment agreement based on A Co.’s request. Specifically, it meticulously reviewed clauses related to the transfer of technology, including intellectual property registration and technical guidance cooperation obligations, and provided legal counsel. Law firm Veat provides specialized legal counsel based on its experience in providing legal advice to technology-based companies. If you are a client needing specialized legal advice on transfer agreements, technology assignment agreements, and intellectual property rights, please feel free to contact Law firm Veat at any time. Thank you. Law firm Veat
[Legal Review Provided] Contract for Commissioned Video Content Production
Law firm Veat conducted a legal review of the agreement related to the video content creation and sales prepared by the attachment agreement of A, an online sales company. A requested that Veat revise the clauses in the detailed list added as an attachment to ensure they were not unfavorable to A regarding the video content creation and sales contract. Law firm Veat provided legal advice to A, thoroughly examining the contract and attachment agreement to ensure there were no unfavorable clauses for A. A contract of construction comes into effect when one party agrees to complete a certain task, and the other party agrees to pay compensation for the result. Therefore, when drafting a construction contract, it is advisable to seek the help of legal experts to determine the completion time, the scope, and the details of the task. Law firm Veat provides legal advice based on its experience providing legal advice to general companies and others regarding construction contracts. Please contact Law firm Veat if you need a legal review of construction contracts, attachment agreements, and general legal issues. Thank you. Law firm Veat
[Veat News] Partner Attorney Songdo-yeong, Appointed as Special Advisor of Seoul Regulatory Innovation Support Unit of Seoul Business Support Center]
Veat Law Firm’s Songdo Yeong Representative Attorney has been appointed as a Specialist Advisor of the Seoul Regulatory Innovation Support Unit. The Seoul Industry Promotion Agency has established the Seoul Regulatory Innovation Support Unit and is providing specialized consulting to companies struggling with commercialization of products and services due to regulations. As a Specialist Advisor of the Seoul Regulatory Innovation Support Unit, Songdo Yeong Representative Attorney promises to do his best to resolve regulatory issues for companies in the new industries of Seoul. Thank you. Veat Law Firm.
[Consulting] Drafting terms and conditions and privacy policy for cryptocurrency exchanges, and legal review.
Law firm Veat provided service provision required for A Corp, a cryptocurrency exchange, including terms of use and personal information processing policies, as well as legal review services. A Corp, which operates a cryptocurrency exchange, requested terms of use and legal review of personal information processing policies that match its services, and Law firm Veat defined the company’s liability within the scope not falling under unfair contract terms as stipulated in the “Act on the Regulation of Certain Business Transactions” (Contract Act). Law firm Veat provides comprehensive legal advisory services covering the entire spectrum of legal matters related to blockchain and virtual currency industries based on broad understanding of blockchain. Notably, the partners and representatives of Law firm Veat, including Mr. Seongho Choi, Mr. Dongyeong Song, and Mr. Ilwon An, have been appointed as members of the IT Blockchain Committee of the Korea Bar Association. If you need legal review during the operation of a cryptocurrency exchange, please feel free to contact Law firm Veat at any time. Thank you. Law firm Veat
[Consultation] Review of legal contracts for employment contracts and salary agreements.
Law firm Veat conducted a legal review of employment contracts and labor contracts based on a request from A, a web service development company. A requested that Law firm Veat review the existing employment contract to ensure it did not violate relevant laws such as the “Labor Standard Act” and other related regulations as they sought to separate it into an annual salary agreement and a labor agreement. Law firm Veat created new annual salary agreements and labor agreements based on the existing employment contract received from A, incorporating A’s requests. Law firm Veat analyzes relevant laws and the company’s internal regulations meticulously and accurately, identifying key issues from the initial stages of disputes related to human resources and labor. Law firm Veat provides various solutions to ensure disputes are resolved quickly and appropriately based on a deep understanding of legal principles related to employment contracts. If you require legal advice regarding employment contracts, annual salary agreements, probationary periods, and overtime work, please contact Law firm Veat. Thank you. Law firm Veat
[Legal Review] Joint Venture Agreement
Law firm Veat conducted due diligence on behalf of A, a manufacturer, regarding a joint venture agreement. A, a domestic individual and foreign corporation, intended to establish a joint venture and inquired to Law firm Veat regarding the drafting of the joint venture establishment agreement and legal review. Law firm Veat conducted a comprehensive review, including shares, use of business opportunities, and infringement of similar businesses, based on A's request to reflect contractual obligations of domestic individuals in the joint venture establishment agreement, according to the laws of corporations. Law firm Veat provides comprehensive legal advice based on abundant experience in JV establishment, including review of joint venture agreements. If you need legal advice regarding JV establishment and drafting of joint venture agreements, please contact Law firm Veat. Thank you. Law firm Veat
Law firm Veat: A startup that began together with your partner with a good heart – there are contracts you must definitely review.
Startup Legal Partner, Law Firm Veat For a long time, B, who was a friend and co-founded and operated a startup with A, and C, was in a very difficult situation. It was because B had received a notification that he intended to transfer the company shares he possessed to a third party! If B were to simply transfer his shares to a third party or an executive of a competitor, it could pose a risk of shaking the startup's equity structure. Therefore, even if you intend to start a business with a co-founder with good intentions, it is advisable to prepare a shareholders' agreement (co-founder agreement). Law Firm Veat Legal Forms Law Firm Veat has provided legal consultation on issues related to co-founders for numerous startup companies, and based on this, it has been distributing shareholder agreement forms containing basic content. In particular, it has prepared provisions to ensure the stable guarantee of the executive's equity when the co-founder resigns by setting that he would transfer his shares to the executive. Based on the Shareholder Agreement Form and Explanatory Booklet, remote legal review consultations are also possible, so if you need a review of the shareholder agreement, please contact Law Firm Veat. Thank you. Law Firm Veat Contact Law Firm Veat KakaoTalk Channel : @Law Firm Veat Phone : 02-576-8990 Website : https://www.veatlaw.kr/main/contact
[Legal Review] Investment Agreement for Co-Founders
Law firm Veat conducted legal review of the shareholders’ agreement (shareholders’ contract) upon receiving a commission from A, a company specializing in online content production. Law firm Veat conducted a review to ensure the draft of the shareholders’ agreement (partnership agreement) prepared as the first version by the co-founders, as A was about to proceed with co-founding. In particular, it conducted a comprehensive legal review of clauses such as non-compete, cooperation obligation, stock disposition restriction, first refusal right, and liquidated damages, aiming for a smooth resolution of potential issues that might arise even if the initial partnership begins with good intentions. Since the shareholders’ agreement (partnership agreement) includes content related to management control, discussing management control with the co-founders in advance and reflecting it in the shareholders’ agreement can be of great help in preventing potential disputes. In addition, it is recommended to reflect clauses such as stock transfer restriction, first refusal right, and liquidated damages through legal experts. Law firm Veat provides the shareholders’ agreement form and explanatory manual, incorporating the experience gained while providing legal advice to general IT companies and startups. If you draft the first shareholders’ agreement draft based on the explanatory manual and then consult with Law firm Veat for legal review, you can receive legal advice at a reasonable cost. If you need to draft the shareholders’ agreement (partnership agreement) and conduct legal review, please contact Law firm Veat! Thank you. Law firm Veat