Corporate Governance

Far Eastern New Century Corporation (hereinafter referred to as “FENC”) has formulated the "Intellectual Property Management Policy” to protect the results of FENC’s innovation, research and development, to strengthen FENC’s long-term competitiveness and to effectively manage FENC’s intellectual property rights. The aforesaid policy has been approved by FENC’s Board of Directors on November 12, 2020, and it contains the evaluation, application, management and protection of all patents, trade secrets, trademarks and copyrights. FENC has reported FENC’s intellectual property management and operations in 2022 to FENC’s Board of Directors on November 9, 2022 as follows:

1. Achievements of intellectual property management

   1. In order to implement FENC’s intellectual property management, FENC has carried out the following measures: (i) requiring employees to sign declarations regarding FENC’s confidentiality, ownership of intellectual property rights protection and use of IT equipment, information and software; (ii) entering into non-disclosure agreements with external parties and partners for the protection of FENC’s technology and proprietary information; (iii) entering into confidentiality agreements before any mergers and acquisitions; and (iv) continuously conducting employee trainings in 2022 to improve employees’ awareness of intellectual property rights protection.

   2. In response to the dispute of intellectual property rights deriving from business competition, FENC establishes a task force to deliberate countermeasures and operating procedures.

   3. FENC has partnered and collaborated with world renowned companies to co-develop the technology of waste gas recycled yarn made by the polyester materials coming from pre-consumer industrial waste gas, and won both the ISPO Textrends 2022 “Best Product” and ITMF 2022 AWARDS.

   4. FENC has partnered and collaborated with world renowned companies and ocean conservation organization to co-develop the technology of ocean recycled yarn made by high value-added fiber through the recycling of polyester waste from ocean sources to regenerate ocean recycled football kits against burst.

2. 2.    In order to strengthen FENC’s intellectual property rights and management and to maintain FENC’s long-term competitiveness, FENC’s priorities in 2023 are as follows:
   1. FENC continues to review and revise for more vigorous management procedures of confidential information, intellectual property rights and operating procedures of disputes.
   2. FENC conducts the new employee trainings for all new employees and strengthens regularly on-the-job trainings on intellectual property rights protection, relevant contract terms and up-to-date legal knowledge to improve employees’ awareness of intellectual property rights protection.