Case Studies
[Consultation] Research and Legal Review of Response Strategies Regarding Trademark Infringement by Overseas Companies
W사는 국내에 등록한 A trademark is being used identically in overseas markets, and inquired about legal response measures. Law firm Veat researched whether the trademark registered in Korea is effective in foreign countries, the validity of a patent claim, whether overseas companies provide services in Korea, and other related matters regarding trademark infringement by overseas companies. Law firm Veat provides methods for taking proactive protective measures to protect patents, copyrights, and trademarks from the business operation stage to prevent typical infringement issues. If you are someone who needs a trademark-related legal review, please contact Law firm Veat. Thank you. Law firm Veat
[Platform Column] Key Legal Issues for Healthcare Startups
Recently, there has been a remarkable surge of healthcare startups focusing on key areas. Combining IoT, artificial intelligence, and other cutting-edge technologies with medical devices, many products located between medical devices and health aids are actively being developed. However, in South Korea, ‘medical practice,’ as defined in the ‘Medical Act’ and the ‘Act on Medical Service Personnel,’ can only be provided by entities with the required licenses and qualifications, and this is strictly prohibited. Therefore, healthcare startups developing in the healthcare sector need to clearly verify these legal restrictions and develop their products accordingly. Platform Column Partner Attorney Baek Seung-chul, an IT legal professional certified by the Korean Bar Association, wrote a column on the key legal issues faced by healthcare startups. For more detailed information, please refer to the Platform Column. If you need legal consultation related to healthcare, please feel free to contact Law Firm Veat. Thank you. Law Firm Veat
[Consultation] Review of prepaid electronic payment methods, terms of use, and privacy policy.
Law firm Veat received a referral from A, a company operating an online service platform, and conducted a legal review regarding whether the digital prepayment payment method used on that platform constitutes a digital prepayment payment method. As a result, we modified A’s terms of use and personal information processing policy. The Electronic Financial Transactions Act defines ‘transferable monetary value stored electronically and issued as a certificate or information regarding that certificate as 1) it will be used to purchase goods or services from a third party other than the issuer and pay the price, and 2) the scope of goods or services that can be purchased exceeds two industries. Given the trend of convenient electronic payment methods, such as prepaid payment methods and convenient payment systems, being commercialized, companies seeking to introduce these methods should conduct a legal review to operate safely. Thank you.
[202110] Monthly Veat 10th Issue_Law firm Veat 6th Anniversary & Office Expansion News
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Law firm Veat Office Expansion News
Hello, I am Choi Seongho, Managing Partner of Law Firm Veat. Thanks to the support of many people, Veat has expanded its office again after expanding from Dokgo-dong Legal Office in 2015 and moving to Pangyo-dong Law Firm after 4 years. The existing 9th floor office will be used as a workspace for lawyers and staff, and the newly expanded 8th floor office is planned to be used as a meeting space to host clients in the best condition. We ask for continued interest in Law Firm Veat and we will do our best to contribute to the growth of your company based on our rich work experience and professional know-how accumulated over time. Previous Address: Golfzon Tower, 9th Floor (Pangyo-dong) Current Address: Golfzon Tower, 8th & 9th Floor (Pangyo-dong) Thank you. Law Firm Veat.
[Platform] Terms of Use, Can it be done roughly?
When launching new services, developing apps, or even trying to create an online shopping mall, what’s essential? It’s registration! That is, signing contracts with customers who use the service. ··· However, every time customers increase by one or two, the company has to sign contracts for each one? Otherwise, the company can only sign usage agreements. That's why companies prepare a ‘standard contract’ in a certain format to sign with multiple customers in advance, and this is called ‘terms of service’. The company, while considering how to create usage agreements, searches for information, asks around, and eventually uses the standard terms of service distributed by the Fair Trade Commission or uses the terms of service of similar companies, simply changing the company’s name. However, this can lead to misunderstandings if problems or disputes arise regarding service usage, especially if the content doesn’t apply to our service or is completely different from the actual service. 플래텀_법무법인비트 ‘스타트업이라면 궁금할 法한 이야기’ 칼럼 시리즈 중 일부 Law firm Veat, which has provided legal advice related to various service usage agreements, has published an article on the startup-focused media platform Platum regarding usage agreements. For more details, please refer to the original article published on Platum at https://platum.kr/archives/171995. Thank you.
[Consultation] Drafting of SAFE Investment Agreement with Added Repayment Rights for Investment Funds
Law firm Veat drafted a SAFE investment agreement with additional investment warrants based on a referral from venture capital firm A. Generally, SAFE investment agreements are made by investing first in early stage startups where it is difficult to determine the value of the company, and subsequently, follow-on investments are made according to the valuation determined by the subsequent investor. Accordingly,
[Veat News] Partner Anil Moon Promoted to Partner
Veat’s An Il-oon Attorney was promoted to Partner Attorney as of October 1st. With 5 years of working together with Veat, An Il-oon Attorney’s promotion to Partner Attorney increased the total number of Partner Attorneys at Veat to 4. An Il-oon Partner Attorney graduated from Yonsei University’s Department of Computer Science and Engineering, and previously worked as Head of the Search Development Center at Naver. He also won a silver prize at the ACM Asia Programming Contest 2007 Korea Regional Final, one of the world’s highest/largest coding ability contests, and has diligently performed activities to promote recognition of open source software license, contributing to the creation of a correct copyright usage culture. He holds an achievement awarded by the Minister of Culture, Sports and Tourism. Veat’s Chief Attorney, Choi Seong-ho, said, “An Il-oon Attorney, as a developer-turned-lawyer, has a deep technical understanding and analytical ability that serves as an example for junior lawyers, and was promoted to Partner Attorney. He is a next-generation leader recognized for his skills in the industry, having won an award from the Minister of Culture, Sports and Tourism, and was featured as a Startup Legal Consultant Attorney in the Legal Times.” Veat promises to continue to provide legal consulting to IT technology-based startups and general companies based on the highest level of professional expertise. Thank you. Veat Dream
[Platform] Blockchain Startup, "If it doesn't work in this country, will it work in a sleepy country?"
Recent trends among startups include targeting the domestic market alone rather than the global market from the outset, and, particularly when utilizing blockchain technology, there are many cases of business models with no border restrictions. You might have conceived an amazing business idea and, when you worry about legal issues or uncertainties within this country, you might think, “If it doesn’t work here, it should work somewhere else.” It’s a natural progression to seek the advantages of actively exchanging with technology companies and investors gathered from all over the world and to explore opportunities for business expansion. Many blockchain startups have already moved to countries like Singapore, where regulations and licensing requirements are more realistic. Amidst this, the number of existing blockchain virtual asset companies and startups, whose uncertainty has increased since the implementation of the Act on Reporting and Use of Financial Transaction Information (hereinafter “Financial Transaction Reporting Act”) amended in late September, are increasingly considering overseas business. That is, they are contemplating establishing a company (or transferring it) abroad and conducting business from there, while considering whether they will be subject to obligations under the Financial Transaction Reporting Act regarding their business models, or whether the business will be restricted as a result. Platinum_Law Firm Veat ‘Stories Curious for Startups’ Column Series – Part of a Collection Sungwoo Seok Senior Foreign Attorney at Law Firm Veat contributed a column to the blockchain and Financial Transaction Reporting Act-related column to the startup-focused media platform, Platinum. For more detailed information, please refer to the original text of the Platinum column posted here: Platinum. Thank you.
[202109] Monthly Veat 9th Issue_ Questions Startups Would Have
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