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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, June 16 — Wemade said Monday it has withdrawn a royalty payment lawsuit filed against Actoz Soft and its subsidiary, following the completion of a long-running dispute over intellectual property rights.
Wemade, along with its subsidiary ChuanQi IP, had previously filed the lawsuit seeking royalty payments from Actoz Soft and its subsidiary Shengqu Games.
The two companies have jointly owned the intellectual property rights to the popular online game series The Legend of Mir 2 and The Legend of Mir 3, and have been engaged in years of legal disputes over the distribution of royalty revenues generated from licensing the IP.
The dispute was effectively resolved in December last year, when the Supreme Court finalized the royalty sharing ratio at 80% for Wemade and 20% for Actoz Soft, leading to the completion of royalty settlements between the parties.
Following the settlement, Wemade and ChuanQi IP have now formally withdrawn their royalty claims against Actoz Soft and its affiliate.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
