The National Assembly Passes a Bill to Partially Amend the Invention Promotion Act
2024.01.17.
On January 9, 2024, the National Assembly has passed a bill to partially amend the Invention Promotion Act (the “Amendment”). The Amendment will take effect six months after promulgation.
The major changes in the Amendment can be summarized as (i) the automatic transfer of employee inventions (Article 13), and (ii) the rules on production orders and protective orders for calculating compensation for employee inventions (Articles 55-8, 55-9, and 58(1)).
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