Minimizing Impact on Bio Companies - KIPO Hosts Seminar on Treaty on Genetic Resources and IP

The Korean Intellectual Property Office (Commissioner Kim Wan-ki) will hold a seminar on the WIPO Treaty on IP Genetic Resources and Associated Traditional Knowledge (adopted in May 2024 not yet in force hereinafter referred to as the Treaty) for bio and pharmaceutical companies utilizing genetic resources. The seminar will take place at the Korea Intellectual Property Center in Gangnam-gu Seoul on June 26th (Wednesday) at 2 PM.

Genetic Resources: Materials containing genetic phenomena from plants microorganisms animals etc. that have substantial or potential use or conservation value.
** World Intellectual Property Organization (WIPO)
*** WIPO Treaty on IP Genetic Resources and Associated Traditional Knowledge
The seminar will be attended by the Director General of the Industrial Property Protection Cooperation Bureau of KIPO relevant department officials representatives from bio companies researchers and related organizations*.

Participants include Sam-A Pharmaceutical GC Green Cross Korea Research Institute of Bioscience and Biotechnology Korea Food Research Institute Korea Seed Association and the Korea Cosmetic Association.
During the seminar KIPO officials will explain the background and key provisions of the Treaty followed by presentations on changes and impacts on national systems due to the Treaty and a Q&A session.

31 Developing Countries Join... South Korean Companies Need Caution When Applying in Treaty-Adherent Countries

The Treaty mandates the disclosure of the origin (country of origin/indigenous people) of genetic resources and associated traditional knowledge in patent applications. Developing countries rich in genetic resources such as Brazil and India have advocated for this Treaty as a means to share the benefits arising from genetic resources and traditional knowledge. The Treaty was adopted at a diplomatic conference held at WIPO headquarters in Geneva Switzerland on May 24 marking an international standardization under the patent system after 25 years. Currently 31 countries primarily from Africa and Latin America have joined the Treaty.

South Korea along with the U.S. and Japan does not plan to join the Treaty considering it an unnecessary burden for patent applicants. However companies intending to apply for patents in countries that have joined the Treaty need to exercise caution.

Last year KIPO held two seminars (in August and November 2023) to provide the draft Treaty and information on disclosure systems of various countries to the industry and to gather feedback. Additionally a survey was conducted early this year to support Korean companies in securing overseas intellectual property rights. KIPO plans to continuously monitor the status of Treaty adoption and the disclosure systems of various countries providing relevant information to domestic stakeholders.

Jung In-sik Director General of the Industrial Property Protection Cooperation Bureau at KIPO stated The bio industry has recently gained prominence to the extent that it is becoming a new arena of competition between the U.S. and China. KIPO will actively support and respond to ensure that the Treaty does not negatively affect the research and development activities and overseas patent acquisitions of the rapidly growing domestic bio industry.

For more detailed information about the seminar please contact the Industrial Property Trade Cooperation Team at KIPO at 042-481-8555.

Website: : http://www.wip-news.com/news/articleView.html?idxno=24011