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Amendments to Trademark Laws

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Mrz 27, 2012 (Newsletter Issue 5/12)
South Korea
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Amendments to Trademark Act

The amendment to the Korean Trademark Act ("TMA") became effective as of March 15, 2012. Notable changes are as follows:

1. Protection of Sound and Scent Marks
Under the amended TMA, it is possible to protect sound or scent marks as long as they are capable of graphical representation (for example by way of a sign, character or figure).
2. Recognition of Certification Marks
It is also possible to apply for and obtain certification marks.
3. Abolishment of Recordation Requirement for Exclusive Licenses
Previously, an exclusive license was required to be recorded with KIPO to be effective. However, such requirement has been abolished as of March 15, 2012.
4. Statutory Damages for Trademark Infringement
The amended TMA implements a system of statutory damages, in which a trademark owner will be able to claim damages for up to KRW 50,000,000 instead of claiming actual damages.

For further information please also check the article of Kim & Chang Intellectual Property, South Korea here

Source: Kim & Chang Intellectual Property, Seoul, South Korea