CPI Asia Column edited by Vanessa Yanhua Zhang (Global Economics Group) present:
The China-Korea IP & Competition Law Annual Report 2015 –By the China-Korea Market & Regulation Law Center (“MRLC”), Korea University (Seoul) and Renmin University (Beijing).
The China-Korea IP & Competition Law Annual Report 2015 has been published by the China-Korea Market & Regulation Law Center (“MRLC”), co-founded by the ICR Law Center of Korea University and the Economic Law Research Center of Renmin University.
The China-Korea IP & Competition Law Annual Report series offers expert, practical and in-depth introduction of yearly developments of Chinese and Korean laws in the fields of IP and Competition law in English, Chinese and Korean for an international audience. The first edition of this annual report was accepted with highest hospitality by experts all over the world as the first work of its kind to introduce annual developments of IP and Competition laws with a full scope.
This Report was undertaken based on understanding that there is a lack of knowledgeable text on the topic of Chinese and Korean IP & Competition laws, especially concerning the intersection between IP and competition laws. By combining the highest expertise and resources in the two jurisdictions while encompassing the major issues and cases of these fields, the annual report provides in-depth knowledge and discussion on the most cutting-edge and controversial issues in these fields of each jurisdiction.
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The primary difficulty experts encounter when analyzing cases of IP or competition laws in China or Korea is the problem of insufficient information regarding relevant legislation and enforcement. Although an abundance of cases and information is under construction in each jurisdiction, they are mostly only available in the local language. Hence, there is a general lack of knowledge on current issues available to foreign experts. Especially in China, where IP and competition laws are rapidly being established and revised, this creates a problem for international practitioners.
In the meantime, IP and competition laws have been a driving force of legal and commercial globalization. Thus, as it is widely accepted that lack of information is a market imperfection that distorts market process, this risk is magnified when the influence can stretch over the globe. In many cases of information shortage, the government attempts to cure the problem by generating the necessary information with public cost to achieve efficiency in the market. This is not, however, always the case when it comes to information crossing over different jurisdictions. In such cases, the cost is borne by the local community while the beneficiaries are usually foreign, creating limited incentive for the government to get involved. For example, in Korea and China, most competition case decisions are delivered only in the local language and translation is the responsibility of the defendant. In addition, most other legal sources, including legal provisions, case laws, and other institutional matters are not fully available in a translation. It seems evident that such issues of externality harm legal development as well as globalization. Foreign actors who struggle with insufficient information may experience negative outcomes and shy away from further business in countries with such lack of information.
The China-Korea Market & Regulation Law Center (the “MRLC”), founded in 2013, takes such problems seriously. We believe that the MRLC may contribute to the international community by providing necessary and trustworthy information regarding developments in IP and competition laws of China and Korea in a timely manner. In fact, the MRLC is perfectly situated for such a mission as it is an interdisciplinary research center established between the prestigious law schools of China and Korea for academic, educational and practical cooperation in the fields of IP and competition laws. Hence, the MRLC aims to provide a platform for the international legal community to share ideas, expertise and comparative experiences. We believe that, by introducing annual development of IP and competition laws in China and Korea together in a comprehensive format, we can create a large synergistic effect in addition to delivering necessary information. This is all the more significant as China and Korea are quickly becoming home to the most cutting-edge legal developments and enforcement in the topic areas with close interactions among themselves.
MRLC hopes that our collaborative efforts between the most eminent Chinese and Korean legal experts brings about legal and institutional progress in the Asian region as a whole.