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Businesses to face new subcontracting rules to protect rights to technology in South Korea

By Wooyoung Lee ( July 26, 2021, 08:14 GMT | Insight) -- Companies that work with subcontractors will face tougher rules aimed at preventing misuse of subcontractors’ technologies and protecting subcontractors from possible technology misappropriation, under a newly passed revision of the Subcontracting Act in South Korea. The revised law will expand the scope of technical information and require contractors to sign a confidentiality agreement with subcontractors. If necessary, it will also give the court the right to order contractors to submit documents containing trade secrets to prove damages or calculate damage claims.Companies that work with subcontractors will face tougher rules aimed at preventing misuse of subcontractors’ technologies and protecting subcontractors from possible technology misappropriation, under a newly passed revision of South Korea's Subcontracting Act....

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