The IPKat

APRIL 19, 2023

The entire history of the name can be seen here ) On May 28, 2021, McCoy minted another NFT to record the Quantum artwork, this time on the Ethereum blockchain. The legal nature of an NFT In each NFT there is a non-fungible token created by the smart contract and an image (e.g., a jpeg) stored on the cloud. are applicable to it.

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Traverse Legal Blog

APRIL 17, 2021

An NFT is a Smart Contract, meaning that it embeds specific basic contract terms in the NFT metadata that goes onto the blockchain. That Smart Contract, that token that can have unique data associated with it. You’ll also get digital collectible album artwork. “Who’s the owner? ” Enrico Schaefer.

Due Diligence 113

Due Diligence Licensing Non-Fungible Tokens Copyright 113

TorrentFreak

JUNE 22, 2022

Movie studio Miramax, which owns most of the rights to the film, sees the plan as a contract breach and copyright infringement. For example, the early artwork featured iconic depictions of Samuel L. The original artwork was labeled as copyright-infringing by Miramax so this change appears to be a direct response to this claim.

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Non-Fungible Tokens Artwork Copyright Infringement Derivative Work 139

The IP Law Blog

SEPTEMBER 16, 2021

After the 2015 transaction between the team and the league closed, the team was sued by a third party who claimed that the Gull logo infringed his artwork entitled “San Diego Gulls”. The team then sued the league trying to recover the amount (over $1,000,000) the team spent on the lawsuit.

Social Media 98

Social Media IP Intellectual Property Artwork 98

The IPKat

JUNE 13, 2022

Digital assets can be protected by IP and have always been capable of being licensed or assigned via a contract, or protected as a trade mark. There have also been complaints where creators have tried to NFT their own creativity but by doing so have breached a contract.

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Non-Fungible Tokens Advertising Advertising Ownership 140

The IPKat

JUNE 27, 2022

created) on a permissionless blockchain (like Ethereum, Cardano o Solana) through a software called “smart contract” which is recorded on the blockchain itself. A digital file (an artwork, a song, etc.), NFTs – still subject to “old” IP law An NFT is a non-fungible (i.e. Ether (USD 1+ million).

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Non-Fungible Tokens Contracts Copying Art 135

Technology & Marketing Law Blog

MARCH 5, 2024

These defense-favorable outcomes may work in the short term; but they leave open the potential liability of the contracting vendors (which may drive them out of the industry, leaving the marketing agent with no one to outsource to) and as well as the marketing agent’s possible secondary liability exposure for the vendors’ activities.

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Kluwer Copyright Blog

JUNE 19, 2023

Nevertheless , tokens may be used in a digital rights management scheme, as the aforementioned default position is subject to contract modification, as explained below. Copyright that is transferred upon selling an NFT may explicitly be outlined in the self-executing smart contract governing the sale. Valid Transfer of Rights?

Non-Fungible Tokens 98

Non-Fungible Tokens IP Ownership Contracts 98

TorrentFreak

JULY 1, 2022

Movie studio Miramax, which owns most of the rights to the film, sees the plan as a contract breach and copyright infringement. Aside from the screenplay rights disagreement, the NFT sale also used other images and artwork that were directly related to Pulp Fiction. NFT Copyright Battle.

Non-Fungible Tokens 109

Non-Fungible Tokens Copyright Artwork Copyright Infringement 109

SpicyIP

MAY 18, 2022

Hermes has sued a Californian artist, Mason Rothschild, for his “MetaBirkins” digital artworks alleging trademark infringement. In the US too, several companies are protecting their trademarks for similar goods and services. Dec 21, 2021.

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Non-Fungible Tokens Trademark Artwork Art 122

The IPKat

JULY 14, 2022

In all these instances, what has been considered as “legal property” is the token generated through the smart contract and not the digital file linked (or “authenticated”, to refer to the EUIPO’s own wording) to it.

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Non-Fungible Tokens Artwork Editing Contracts 111

Kashishipr

SEPTEMBER 20, 2021

NTC’s statement regarding the copyright assignment from SK Oil Industries to SSPL wasn’t appropriate as it wasn’t a party in the contract, and therefore, didn’t have the right to question it. NTC didn’t own the copyright in the ‘SOYA DROP’ artwork or label.

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Registration Artistic Work Copyright Registering Trademarks 98

The IPKat

FEBRUARY 17, 2022

First, held the Board, a machine cannot enter into any binding legal contract. In addition, the preamble to the DSM Directive specifies that the authors and performers that shall be able to rely on the provisions on contracts therein shall only be natural persons, thus excluding from the scope of application non-human authors and performers.

Copyright 145

Copyright Artistic Work Copyright Law Contracts 145

IPilogue

APRIL 11, 2022

He explained that an NFT typically includes only information about the artwork’s location. The actual artwork is not stored within the NFT because storing large amounts of data on a blockchain is fairly expensive. She received a cease-and-desist notice from the photographer Michael Halsband, directing her to destroy the artwork.

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Non-Fungible Tokens Cease and Desist Intellectual Property Artwork 105

The IP Law Blog

MARCH 31, 2022

The Court, however, held that Densy stated sufficient facts to establish the existence of an implied-in-fact contract between the parties. There the Court quoted Justice Traynor’s dissenting opinion in Stanley : The policy that precludes protection of an abstract idea by copyright does not prevent its protection by contract.

Contracts 96

Contracts Law Artwork Copyright 96

The IPKat

JANUARY 18, 2023

In particular, it stands out a concept which is frequently neglected when NFTs are explained: the link to the image, i.e., the artwork, is not contained in the smart contract (the piece of software written in Solidity programming language which generates an NFT) but in a JSON file (“JavaScript Object Notation”) which contains the NFT’s metadata.

Artwork 82

Artwork Contracts Art False Advertising 82

Copyright Lately

MAY 6, 2022

NFTs were minted Money was advanced The underlying contracts Never got a glance Dreams of exploitation From Florida to France But no rights were acquired The kids don’t stand a chance. — “The Kids Don’t Stand a Chance, Aaron’s Version” ( with apologies to Vampire Weekend ). Definitely.

Derivative Work 82

Derivative Work Licensing Artwork Contracts 82

JD Supra Law

JULY 19, 2023

Modern AI, powered by what is known as “large language models,” is able to churn out original artwork, text, music, and even dubious legal advice. It works by processing and “learning” from an expansive dataset of material. In human terms, imagine. By: Arnall Golden Gregory LLP

Artwork 40

Artwork Contracts Licensing Music 40

Copyright Lately

NOVEMBER 21, 2021

Fundamentally, an NFT is just a transactional record and a link to a digital asset (often an image of artwork or a document) stored somewhere on the web. ” It’s really all a matter of what the parties intended, a question which is likely influenced by industry custom and practice at the time of contracting. (Of

Copying 121

Copying Non-Fungible Tokens Contracts Copyright 121

IP and Legal Filings

JANUARY 23, 2023

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] When someone mints an NFT on a public domain, they could falsely claim to be the owner of the original artwork’s copyrights.

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Non-Fungible Tokens Copyright Intellectual Property Ownership 87

Kluwer Copyright Blog

JULY 24, 2024

While creative industries claim their work has been not only stolen but specifically used to replace them, AI providers continue, remarkably, to insist that the millions of images ‘fed’ to the AI can be used without permission as part of the ”social contract” of the Internet.

Copyright 135

Copyright Ownership Social Media Licensing 135

LexBlog IP

FEBRUARY 21, 2022

This is the unfortunate reality for most NFT projects: their artwork is entirely mutable which defeats the entire purpose of those NFTs. Nevertheless, there is a global expectation that an NFT is the artwork itself because it is common industry practice to equate the artwork with its token. What is the (Legal) Bottom Line?

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Ownership Art Artwork Non-Fungible Tokens 52

The IPKat

DECEMBER 16, 2021

The Court of Appeal however found that there was enough evidence before the court to prove CPL’s ownership of the copyright in the artwork (as it had commissioned and paid for the artwork). It therefore held that Morison was also liable for copyright infringement of the artwork in the registered trademark.

Copyright 89

Copyright IP Ownership Copyright Infringement 89

IP and Legal Filings

OCTOBER 19, 2022

Forms of digital media or virtual artworks are traded among NFT traders in the current NFT market practice, frequently for astronomically high prices. ” The transfer of ownership or copyrights of the specific assets or works to another person is typically not specified in such smart contracts.

Artwork 67

Artwork Copying Contracts Copyright 67

LexBlog IP

AUGUST 13, 2021

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

Artwork Art Reporting Ownership 52

LexBlog IP

SEPTEMBER 16, 2021

The first was a breach of contract claim which alleged that in the 2015 assignment agreement, the league represented that it was assigning the copyright in the logo to the team free and clear of any claims, and that the third-party copyright claim is evidence that the league breached that representation.

Social Media 52

Social Media IP Intellectual Property Artwork 52

Art Law Journal

AUGUST 18, 2022

Laws regarding the use of a person’s likeness, also known as the right of publicity, ensures that a model or other subject of an artwork controls the commercial exploitation of their name, image, or persona. A model release form is basically a short-form contract between the artist (or other hiring parties) and the model.

Publishing 85

Publishing Art Contracts Artwork 85

IIPRD

JANUARY 29, 2023

A person who employed the artist will be considered the proprietor of the artwork and can register for exclusivity for the same character. [3] 5] The content creator reached out to the artist for a commissioned artwork which is a unique character design. 12] Courts around the world generally apply tests to determine IP infringement.

IP 52

IP Artwork Contracts Intellectual Property 52

Copyright Lately

FEBRUARY 6, 2022

People probably aren’t aware, but Spotify just as an example, has been involved in dozens and dozens of rights disagreements with rightsholders, be it on not only songwriting but also the master rights and even also artwork rights. So there’s a lot of nuances out there.

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Music Artwork Social Media Intellectual Property 89

Art Law Journal

JANUARY 28, 2021

Artists and collectors can minimize estate taxes on artworks by employing a planning strategy and understanding the complexities involved with assessing the work's fair market value. Nicole Martinez.

Artwork 52

Artwork Marketing Marketing Art Law 52

Art Law Journal

JANUARY 28, 2021

Artists and collectors can minimize estate taxes on artworks by employing a planning strategy and understanding the complexities involved with assessing the work's fair market value. The post Estate Planning for Artists and Collectors appeared first on Art Business Journal.

Artwork 52

Artwork Journalism Art Marketing 52

LexBlog IP

SEPTEMBER 23, 2022

Interior Design contracts cases rarely make headlines. the contract for interior design and decorating services, including purchasing furniture, authorized a ten percent (10%) markup on shipping and related services but did not provide for any other markups, commissions, or fees. In the U.S. District Court for the Eastern Dist.

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Designs Design Contracts Artwork 52

LexBlog IP

APRIL 1, 2022

As many know by now, non-fungible tokens (“NFTs”) are unique units of data stored on a blockchain that have become an increasingly popular way to buy and sell artwork (as well as all kinds of other things). The phrase “investment contract” is not defined in the Securities Act. Howey Co. , That definition is known as the Howey test.

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Non-Fungible Tokens Law Contracts Artwork 52

The IPKat

MAY 3, 2022

in Class 35 and “ [d]ownloadable virtual goods created with blockchain-based software technology and smart contracts, in the nature of footwear, clothing, bags, accessories and charms for decorating footwear, clothing, bags and accessories ” in Class 9 (see here ). ESRT Empire State Building, L.L.C.

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Non-Fungible Tokens Branding Brands Branding 100

Intepat

OCTOBER 28, 2024

These assets can be anything from digital artwork and trading cards to in-game items, all of which are bought and sold using cryptocurrencies. NFTs are embedded with smart contracts—self-executing contracts written in code—that facilitate the transfer and verification of ownership. Smart Contracts: Are they enough?

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Non-Fungible Tokens Copyright Contracts Ownership 52

The IPKat

DECEMBER 14, 2023

The Regulations also protect the rights of authors of an original applied or fine artwork to a share in the proceeds of sale of that work as long as copyright subsists. In Nigeria, Airtel Nigeria Limited neglected to renew their contract with actor and filmmaker Adewole Ojo to use his photographs for advertisements.

Copyright 92

Copyright IP Social Media Copyright Infringement 92

Intepat

MAY 17, 2024

The other two copyright rejections were the images in Kristina Kashtanova’s graphic novel (Zarya of the Dawn) and Jason Allen’s artwork which had substantial human input through the crafting of hundreds of prompts using the Midjourney text-to-image generator. Contracts should clearly state who owns the rights to the prompts.

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Ownership Contracts Confidentiality Copyright 52