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Licensing is to grant
any third party (hereinafter referred to as the
Licensee) use of the IP rights of the owner (hereinafter
referred to as the Licensor) on the basis of an
agreement between the Licensor and the Licensee.
There are two kinds of licenses, one is an exclusive
license and the other is a non-exclusive license.
An exclusive Licensee exclusively use the IP rights
concerned on the basis of a license agreement, and
the Exclusive Licensee can directly prosecute a
legal action against an infringer of the IP rights
if the agreement is recorded at The Korean Intellectual
Property Office (in cases of trademarks, designs,
utility models, patents). A non-exclusive licensee
can only use the IP rights concerned on the basis
of the license agreement. |
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