[Consulting] Legal review of the sales and transfer procedure of media content platform.

Law firm Veat provided legal advice regarding the procedure in which Law firm Veat transferred all rights, including software-related intellectual property rights, to the acquirer, A (the receiving company), upon a request from the transferor.

In this asset acquisition contract, as the transferor holds intangible assets, all transfers of these assets are made, therefore Law firm Veat reviewed the procedures that the transferor and acquirer must undertake for the asset acquisition.

The firm conducted a legal review to determine whether this intangible asset transfer falls under the business transfer requiring a special resolution by the shareholders' meeting, as stipulated in Article 374(1)(1) of the Companies Act, in accordance with the relevant provisions of the Companies Act.

Furthermore, Law firm Veat reviewed the entire asset acquisition agreement, including provisions for the restriction of competition, joint and several guarantee obligations, statements and guarantees from the transferor and major shareholders, termination clauses, and other relevant terms, in the event that the firm acquires the entire or partial business of another company that significantly affects the company’s business operations.

If you require a review of the asset acquisition procedure and asset acquisition agreement, please contact Law firm Veat.

Thank you.

Law firm Veat