Korea – Australia Free Trade Agreement: IP more important than ever
Intellectual Property was raised several times at an AUSTRADE event concerning the new free trade agreement between Australia and Korea. Protection before entering that market is very important. A publisher told a story about the continued publication of her novels in Korea after expiry of a contract to do so. It appears that she did not fully appreciate the role that IP rights could of played to protect her interests in Korea.
There appears to be plenty of opportunities for Australian businesses in South Korea, however one official noted that IP appropriation was sometimes an issue. So, the lesson is to make sure you protect your patents, trade marks and designs in Korea well before heading over there.