Korean Patent Donation System Proposed

According to a November 14, 200 article in The Korea Times, a report by the Federation of Korean Industries (FKI) proposes a patent donation system in which large companies receive a certain amount of tax breaks in return for donation of patents to nonprofit organizations.

As many as 30.6 percent of Korea's patents are "idly kept in a corner." 50.7 percent of companies surveyed in the report cited new trends for technology and products as why they have not employed idle patents. Lack of marketability received 30.4 percent, while 13 percent said business restructuring has put some patents in storage. Only 9.7 percent of unused patents were transferred to other companies, while 59.7 percent of them were assessed and disposed, the survey said.