LG Electronics has offered compensation to current and former employees for patents they helped develop while working at the company.
This decision could change the ownership and royalty model for patents in the tech industry. LG is currently involved in around 50 lawsuits with employees regarding patent ownership.
The company files between 3,100 and 4,600 patents in South Korea annually.
LG made A$870 million in patent profits during the first three months of 2022, so making such deals with employees could prove to be a costly move for LG.
TheElec claims LG contacted the relevant employees and “offered anywhere from a couple of million wons to a couple of millions of dollars.”
