KIPO, SIPO Sign Cooperation Agreement Including IP Transactions

The intellectual property offices of Korea and China today announced they have signed a cooperation agreement on work-sharing, communication, and new areas of IP, including the commercial use of IP rights such as transactions involving patents.

According to Korean IP Office (KIPO) press release, the memorandum of understanding “includes new areas beyond the existing cooperation, including the commercial use of IPRs — such as IPR transactions and finance — for which both countries have shown an active interest.”

In addition, KIPO said, “the MOU includes provisions to improve bilateral communication on international issues and to enhance overall cooperation on global IPR issues.” The two countries “also signed MOUs to extend work-sharing through the Patent Prosecution Highway and for e-exchanges of priority documents,” it said.

The text of the MOU did not appear to be available on the KIPO website, and no further information was provided.

The MOU was signed on 9 December, during the 19th meeting of the heads of KIPO and SIPO. The two countries have met almost every year since 1992, but this the first time they signed an MOU on comprehensive bilateral cooperation, KIPO said.

“The MOU was signed as a follow-up measure to President Park Geun-hye’s visit to China for a summit meeting in June,” it said. “President Park issued a joint declaration with President Xi Jinping of China agreeing to expand bilateral exchanges and cooperation in IPRs.”

KIPO Commissioner Kim Young-min gave a lecture (also not provided) on the theme of the “Creative Economy and Korea’s IPRs” at Renmin University in China on 9 December. Kim explained the idea of a creative economy through easy-to-understand case studies and emphasized that creative ideas and dreams are important for Chinese students, the release said.