[Counsel] Legal counsel on the speculative nature of fantasy game services

Article posted in 2019-10-02 14:54:59 | VEAT

VEAT Law Firm provided legal counsel on the standards of speculative games in connection with a fantasy game being launched by Company A, the game developer, based on its request.

Fantasy gaming (fantasy sports) is one of the game genres in which game users play sports games by organizing a virtual team based on the names and records of the actual sports players. It had been more active in foreign markets than in the local market, and in 2016 it was actively introduced in Korea, securing a large number of users.

VEAT Law Firm provided comprehensive legal counsel by thoroughly examining the statutes related to games, examples of game grade classifications by the Game Rating and Administration Committee, the agencies concerned, and precedents related to the standards of speculative games, including the Criminal Act, the Act on Exceptional Cases of Regulation And Punishment of Speculative Acts ("Speculative Acts Regulation Act"), and the Act on Promotion of Game Industry ("Game Industry Act").

VEAT Law Firm is equipped with rich experience in the review of the standards of speculative games, game service terms, and conditions, etc., with lawyers who have served as legal counsel for numerous game companies. Those in need of expert legal opinions on the provision of game services as well as on the standards of speculative games are invited to contact VEAT Law Firm.