Answers to questions about Korean patent pledge

The patent pledge procedure in South Korea is relatively complicated compared to the United States, Japan and other countries.

• Required documents and requirements: Power of attorney: needs to be signed by the pledgor (patent holder) and the pledgee (creditor), no notarization is required, and it needs to be translated into Korean
• Nationality certificate: The nationality certificate of the pledger (patent owner) must be provided. This document needs to be notarized and translated.
• The pledge contract shall contain the following contents:
  • Name and signature of the pledgor (patent owner) and pledgee (creditor)
  • If the pledger and the debtor are different persons, the debtor must be indicated.
  • Patent Number
  • Description of the purpose of the contract
  • Maximum amount of claims (recommended to be 120% of the actual amount of claims)
  • Contract signing date
  • If it is a root pledge contract, the term must be specified
  • You can choose to indicate the interest rate and special terms, etc.
  • Documents to be submitted to the JPO: No original pledge agreement is required. A written document containing the above information is sufficient. Notarization is not required. It must be translated into Korean.