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Patent Act — Article 124 (Extinguishment of Patents in Absence of Heirs)

특허법 제124조

This English translation is based on the Korean text effective 2024-08-21. The Korean law has since been amended (current version effective 2025-11-11) — check the Korean original.

(1) A patent shall be extinguished if no heir exists when the relevant inheritance proceeding commences. <Amended on Feb. 29, 2016>

(2) If the transfer of a patent owned by a corporation in the process of liquidation is not registered by not later than the date when the completion of the liquidation process of the corporation is registered (or the earlier of the date when administrative affairs for liquidation are actually completed and the date immediately after the lapse of six months from the date when the completion of the liquidation process was registered, if the completion of the liquidation process was registered but administrative affairs for liquidation have not been actually completed; hereafter the same shall apply in this paragraph), the patent shall be extinguished on the day immediately after the date when the completion of the liquidation process is registered. <Newly Inserted on Feb. 29, 2016>[This Article Wholly Amended on Jun. 11, 2014][Title Amended on Feb. 29, 2016]

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