Korean Domestic Securities Companies Have only 4 BM Patents

In Korea, BM patents are rare because the process of acquiring patent is difficult and takes long time.  Instead of patent registration, Korean Securities companies are using ‘exclusive use right’ for new products which has assigned by Korean Financial Investment Association.

The ‘exclusive right’ is one kind of product patent that grant exclusive sales right for certain time to company developed ingenious product.  However, it has limitations because the exclusive period is short and it is not a mandatory control but a voluntary restraint.  Therefore, stock business industry gradually acknowledge the importance of BM patent.   



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According to Korean Financial Investment Association, there has been 19 exclusive right assigned since 2009.  Exclusive right is easy to be assigned, but the period for exercise of right is too short.  Last month, Samsung Securities Co., Ltd. acquired only 4months of exclusive right for its new product, ‘Long-short spread ELB.’

On the other hand, there has been only 4 cases of BM patents during the same period because of its difficult examination process.  According to the interpretations of persons concerned, the idea itself about a way of doing business is not the creation of the descriptive idea use the law of nature. 

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