Marking obligations of metaverse game companies’ legal risk, specialized advice from Law firm Veat.
Article posted in 2024-12-10 19:47:55 | VEAT
Law firm Veat received a request from metaverse game company A (hereinafter referred to as "the client") to review the method of fulfilling the obligations of display as stipulated in Article 23 of the "Act on Promotion of Game Industry" (hereinafter "Game Industry Act").
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"Act on Promotion of Game Industry" Article 23(Obligation of Display) ① Any person who manufactures or distributes game products for the purpose of distributing or providing them for use shall display the name, grade, and game content information of the manufacturer or distributor for each game product. ② Any person who manufactures, distributes, or provides game products for the purpose of distributing or providing them for use shall display the type of probability-based items used in the game, the type-specific supply probability information, and other matters as prescribed by Presidential Decree on the game product itself, as well as on its internet homepage and advertisements. ③ Any person who manufactures or distributes game products for the purpose of distributing or providing them for use shall attach a device displaying information relating to the operation of the game for games designated by Presidential Decree. ④ Matters necessary for the scope of game products subject to the obligation of display as stipulated in paragraphs 1 to 3, and methods of display, shall be designated by Presidential Decree. |
The client, a metaverse game company, sought Veat, a law firm specializing in IT law, to review the necessary measures to ensure compliance with Article 23 (Obligation of Display) of the Game Industry Act for the content it provides. According to the law, failure to fulfill the obligation of display when distributing or providing a game product may result in imprisonment for up to two years or a fine of up to 20 million won (Article 45 of the Game Industry Act).
In particular, online game products must specify the game title, name, grade, grade classification number, date of manufacture, and registration or notification number of the manufacturer or distributor, and failure to do so may result in the Game Management Committee recommending modification according to the grade classification regulations.
Law firm Veat provided a detailed review of these regulations and proposed a successful implementation plan, and helped the client understand based on similar cases domestically and internationally.
The IT·TMT field still receives low ratings as many law firms fail to fully understand the technological requirements of their clients. This is because major law firms are limited in their ability to grasp the complexity of the latest technologies and apply them to legal advice.
However, Law firm Veat is staffed with experienced IT lawyers who simultaneously understand technology and law. Based on their IT and engineering backgrounds, they accurately identify technical issues and provide differentiated legal advice in cutting-edge technology fields such as the metaverse, blockchain, and NFT through this expertise.
Furthermore, Law firm Veat proactively analyzes legal issues of innovative business models that combine continuously changing regulatory sandboxes, AI, metaverse, blockchain, and provides optimal legal advice.
In this way, Law firm Veat provides optimized advice on various legal issues where IT and law converge, and as a leader in the IT·TMT field, helps companies achieve stable and sustainable growth.
If you need legal advice related to advanced technologies such as games and the metaverse, please contact Law firm Veat.
Thank you.
Sincerely,
Law firm Veat