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Can I look into the requirements for a venture company by receiving startup legal advice?

I have IT technology that I independently developed, so I founded a startup. However, since I am still inexperienced in corporate legal matters, it seemed advisable to receive startup legal advice to be confirmed as a venture company and to take advantage of related support programs. I am curious about the venture company requirements that can be learned through startup legal advice.

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Answer to Related Inquiry

Author: 김국일

A "venture company" refers to a small or medium enterprise that has relatively high technological or growth potential compared to other companies and that the government recognizes as needing support.

To receive venture company support, you can receive support if you fall under any one of the following types: the venture investment type, the research and development type, or the innovative growth type and preliminary venture company.

■ Venture investment type

A company in which the total investment made in the company by a person such as a small and medium enterprise startup investment company is 50 million won or more, and the ratio that the total investment occupies in the company's capital is 10 out of 100 or more

■ Research and development type

A company whose annual research and development expenses are 50 million won or more, whose ratio of total annual research and development expenses to total annual sales is 5 out of 100 or more, and whose business viability has been recognized by an entity such as the Korea SMEs and Startups Agency

■ Innovative growth type and preliminary venture company

A company that has been evaluated as excellent in the innovativeness of its technology and the growth potential of its business by a venture company confirmation agency such as the Korea Institute of Science and Technology Information, the Korea Invention Promotion Association, and the Korea Institute of Industrial Technology

If you wish to be confirmed as a venture company under this classification, you must obtain confirmation through an application for confirmation from the head of a venture company confirmation agency.

In order to closely review this in advance, it may be advisable to receive startup legal advice.

After the application, you go through confirmation according to the type, such as a technology review and a business viability review, from a corporate legal perspective.

I also recommend that, for effective corporate operation after being recognized as a venture company, you receive startup legal advice and carry out various legal reviews in parallel.