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IP Newsletter | Fall 2018
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PATENT
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KIPO's Power of Attorney Requirements Now Relaxed for Foreign Companies
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The Korean Intellectual Property Office (KIPO) recently announced that separate declarations will no longer be required for Power of Attorney (POA) forms for foreign companies, regardless of the signer's title. The change became effective on August 10, 2018. |
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This change seeks to address criticisms that POA requirements had become overly stringent for foreign companies. Starting in early 2017, POAs from foreign companies were only accepted by KIPO if they were signed by a person with the title of CEO, Representative, President or Owner. Otherwise, the POA needed to be accompanied by a separate notarized declaration certifying that the person signing the POA was an authorized signatory of the company.
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Under KIPO's relaxed POA rules, a POA submitted on behalf of a foreign company can simply include a statement that the signing person has authority to sign. A separate notarized declaration confirming the signatory's authority is no longer needed, regardless of the signer's title. This revision removes unnecessary burdens from many foreign companies for whom compliance with the previous rules was sometimes difficult, for example due to difficulties having documents notarized (e.g., in China), or differences in corporate titles (e.g., "legal representatives" in Chinese companies, or "managing directors" in European companies).
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For more information, please visit our website: www.ip.kimchang.com
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