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NFTs: promisingly transformational, yet fraught with IP pitfalls – Part II

Kluwer Copyright Blog

Firstly, in conformity with the CJEU’s 2012 UsedSoft case, the exhaustion doctrine applies to first sales of computer software copies. Resale Rights Another notable difficulty when it comes to tokenising artworks is brought on by the resale right regime.

Artwork 98
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Analysing the Intersection of Blockchain, Cryptocurrencies and Intellectual Property Rights

IP and Legal Filings

NFTs may be represented in the form of memes, artworks, or videos. Moreover, in 2012, the USPTO received several patent applications that contained the terms “cryptocurrency” and “blockchain”. Smart contracts are contracts that are used to regulate NFT transactions.

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A Brief Thematic Review of Non-Fungible Tokens and their Copyright

IP and Legal Filings

Following the 2012 revision to the copyrights Act, it was made clear that Internet activities were also covered by the copyright law. NFTs are governed by smart contracts, which divide ownership and limit transferability. Blockchain technology allows smart contracts to operate, ensuring the integrity of all sent and received data. [iv]

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UPDATE—New York Court Awards Statutory Prejudgment Interest to Grünbaum Estate’s Heirs

LexBlog IP

Under New York’s statutory prejudgment interest rules, an aggrieved party may recover prejudgment interest on a sum awarded because of a breach of contract or wrongful interference with title to, or possession or enjoyment of, property. [1] ” [9] Thus, Nagy argued, the Heirs’ replevin of the Artworks “made them whole.”

Artwork 52
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SpicyIP Weekly Review (September 4- September 10)

SpicyIP

Deepak Kumar on 6 September, 2023 (Delhi High Court) The Delhi High Court allowed a petition seeking cancellation of the defendant’s copyright registration on the artwork for its product “Gulcharre Sevaiyan”. Manju Singhal v. Dr. Reddy’s Labs Ltd.

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Egyptian Case Kurasov v. Wali: Where inspiration meets imitation in the art world

Kluwer Copyright Blog

The former had contracted with Wali’s studio to redesign the station murals as part of an initiative to promote Egyptian civilization, heritage and culture. Thus, it is highly plausible, if not evident for some, that this case can fall more within the boundaries of inspiration and not pure imitation of protected artwork.

Art 59
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Inside Arbitration: Cyber disputes – are there borders in the blockchain?

Herbert Smith Freehills

In April and May 2021, Mr S participated in an auction of digital art held by Nifty, placing a bid for an NFT associated with an artwork by Beeple titled "Abundance". According to Nifty's rules, the highest 100 bidders were winners of a numbered edition of the artwork corresponding to the position of their respective bids.

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