Korean Commercial Law

Author: Translator: Wu Rihuan
Editor-in-Chief: Zhang Ling
Publisher:
Publish Date: 1999-08-01
Features:
Paragraph: When a transaction is made for oneself, the owner may regard it as a transaction conducted for the owner. If the transaction is made for a third party, the owner may request the user to return the benefits. 3. The provisions of the preceding paragraph do not affect the owner's request for termination of the contract or damages from the user. 4. The right stipulated in the second paragraph shall be extinguished two weeks after the owner learns of the transaction or one year after the transaction is conducted.
Chapter Four on Trade Names
Article 18 (Freedom of Trade Name Selection) A merchant may determine its trade name with its name or other names.
Article 19 (Company Trade Name) According to the type of company, the trade name of the company must be accompanied by the words "Limited Liability Company," "Two-Partnership Company," "Joint Stock Company," or "Limited Company."
Article 20 (Prohibition of Improper Use of Company Trade Name) A non-company shall not use company-designating words in its trade name. The same applies when taking over a company's business.
Article 21 (Uniqueness of Trade Name)
1. A single trade name must be used for the same business.
2. The trade name of a branch must indicate its subordination to the headquarters.
Article 22 (Effect of Trade Name Registration) Within the same special city, metropolitan city, city, or county, no one else may register a trade name already registered by another in the same business.
Article 22-2 (Pre-Registration of Trade Name)
1. A company wishing to establish a joint stock company or a limited company may apply for pre-registration of the trade name at the registration office under the jurisdiction of the company's headquarters.
2. A company wishing to change its trade name or/and purpose may apply for pre-registration of the trade name at the registration office under the jurisdiction of the company's headquarters.
3. A company wishing to move its headquarters may apply for pre-registration of the trade name at the registration office under the jurisdiction of the intended location.
4. When applying Article 22, the pre-registration of the trade name shall be deemed as the registration of the trade name.
5. Regarding the pre-registration of the trade name, the deposit of funds, its recovery, the cancellation of pre-registration, and other necessary procedures from the time of pre-registration to the formal registration shall be governed by the rules of the High Court.
Article 23 (Prohibition of Using Trade Names That May Confuse the Identity of the Principal)
1. No one shall use a trade name that may mislead others into thinking it is another's business for improper purposes.
2. If a trade name is used in violation of the preceding paragraph, the person at risk of being harmed or the trade name registrant may request its revocation.
3. The provisions of the second paragraph do not affect the claim for damages.
4. Within the same special city, metropolitan city, city, or county, using a trade name already registered by another in the same business shall be presumed to be used for improper purposes.
Article 24 (Liability of the Person Who Lends the Name) A person who allows others to use their name or trade name for business shall jointly and severally bear liability for damages to third parties who may be misled into thinking they are the owner.
Article 25 (Transfer of Trade Name)
1. A trade name may only be transferred when the business is terminated or when the business is transferred along with it.
2. The transfer of a trade name shall not be binding on third parties without registration.