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

Traverse Legal Blog

APRIL 1, 2021

A non-fungible token allows you to put a smart contract onto the blockchain that is unique unto itself. Different types of information can be stored on a blockchain including ledger information and smart contracts. NFTs are being used to store smart contracts and authentication for digital artwork and other digital assets.

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Traverse Legal Blog

APRIL 17, 2021

Be an NFT expert if you want to take advantage of this emerging market. Top marketing places include: OpenSea – Built on ERC-721 and ERC-1551 non-fungible token standards – the largest marketplace for creator-owned digital goods – easy onboarding experience for new users – create your own storefront.

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Due Diligence Licensing Non-Fungible Tokens Copyright 113

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?

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Non-Fungible Tokens IP Ownership Contracts 98

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.

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Artwork Contracts Art False Advertising 80

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 144

IP and Legal Filings

JANUARY 23, 2023

Parallel to this, Non-Fungible Tokens, often known as NFTs, have seen tremendous growth as more and more people enter the market. 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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Non-Fungible Tokens Copyright Intellectual Property Ownership 92

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

Kashishipr

SEPTEMBER 20, 2021

Since then, it has been continuously used and has even acquired reputation and goodwill in the market. 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.

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Registration Artistic Work Copyright Registering Trademarks 98

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.

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Artwork Journalism Art Marketing 52

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.

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Artwork Copying Contracts Copyright 71

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

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. So, the question looms large: Are NFTs securities?

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Non-Fungible Tokens Law Contracts Artwork 52

The IP Law Blog

MARCH 31, 2022

In an effort to market his script, Desny called Billy Wilder, a writer, producer and director at Paramount Pictures. The Court, however, held that Densy stated sufficient facts to establish the existence of an implied-in-fact contract between the parties. That disclosure may therefore be consideration for a promise to pay.

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Contracts Law Artwork Copyright 96

LexBlog IP

MARCH 16, 2023

But another emergent issue facing the NFT market is what, if any, application federal securities laws have on the offer and sale of NFTs. In determining whether an “investment contract” was created, the Court applied factors from the “ Howey Test,” named for the seminal 1946 Supreme Court case SEC v.

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Non-Fungible Tokens Contracts Marketing Marketing 59

SpicyIP

MAY 18, 2022

Hermes has sued a Californian artist, Mason Rothschild, for his “MetaBirkins” digital artworks alleging trademark infringement. Since this is a nascent market, the earlier a name is registered and the more effort trademark holders put into educating the public about selection, endorsement and sponsorship functions (e.g. Dec 21, 2021.

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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.”

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Artwork Art Reporting Ownership 52

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.

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Copyright Ownership Social Media Licensing 130

IP and Legal Filings

SEPTEMBER 30, 2022

they’reThey’re issued on these assets using blockchain technology and smart contracts, which generate unique digital signatures and establish their security. Some consider NFTs to be contracts, while others consider them to be derivatives. Security Law. As a result, there’s no categorization of NFTs under the SCRA.

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Non-Fungible Tokens Ownership Contracts Copyright 52

Herbert Smith Freehills

JULY 6, 2022

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.

Artwork 52

Artwork Non-Fungible Tokens Business Contracts 52

LexBlog IP

MARCH 18, 2022

NFTs can be based on three-dimensional items or artwork, or can be purely digital creations—for example, a collectable digital sneaker or a token used in a videogame. Those statistics show increasing awareness of the NFT market and likely some FOMO (or “Fear of Missing Out”) on the part of brand owners.

Trademark 52

Trademark Non-Fungible Tokens Intellectual Property Branding 52

Biswajit Sarkar Copyright Blog

JUNE 23, 2022

Given the rapid growth of Non-Fungible Token (NFT) market, it was just a matter of time until a court recognised the labyrinth of intellectual property difficulties that surrounded the distribution and sale of NFT digital works. In China’s first copyright infringement case including NFT digital work, a court recently decided.

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Copyright Infringement Copyright Non-Fungible Tokens Artwork 52

Biswajit Sarkar Copyright Blog

JUNE 23, 2022

Given the rapid growth of Non-Fungible Token (NFT) market, it was just a matter of time until a court recognised the labyrinth of intellectual property difficulties that surrounded the distribution and sale of NFT digital works. In China’s first copyright infringement case including NFT digital work, a court recently decided.

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Copyright Infringement Copyright Non-Fungible Tokens Artwork 52

IIPRD

FEBRUARY 6, 2024

It gives authors and artists the sole ownership rights to their original writings, music, films, and artwork. Creators need to comprehend the fundamentals of copyright law to safeguard their creations and negotiate licensing and distribution contracts with skill.

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Intellectual Property Cease and Desist Copyright Law Music 52

IP Tech Blog

MARCH 18, 2022

NFTs can be based on three-dimensional items or artwork, or can be purely digital creations—for example, a collectable digital sneaker or a token used in a videogame. Those statistics show increasing awareness of the NFT market and likely some FOMO (or “Fear of Missing Out”) on the part of brand owners.

Trademark 62

Trademark Non-Fungible Tokens Branding Branding 62

LexBlog IP

SEPTEMBER 15, 2022

They are sold and/or traded in connection with “smart contracts” that govern the terms of transfer. In this case, beyond pure IP issues, the parties disagree over interpretation of Tarantino’s original contract with Miramax, in which he reserved all rights for print publication of the screenplay (including in digital form).

IP 52

IP Non-Fungible Tokens Artwork Intellectual Property 52

LexBlog IP

MARCH 31, 2022

In an effort to market his script, Desny called Billy Wilder, a writer, producer and director at Paramount Pictures. The Court, however, held that Densy stated sufficient facts to establish the existence of an implied-in-fact contract between the parties. That disclosure may therefore be consideration for a promise to pay.

Contracts 52

Contracts Artwork Law Ownership 52

The IP Law Blog

JANUARY 12, 2023

For trademarks, a good place to start is the company’s marketing and promotional materials, website, mobile app, and social media. Sometimes marketing departments and independent divisions spin out valuable intellectual property assets that, for one reason or another, never made it past the desk of general counsel or a responsible executive.

IP 98

IP Intellectual Property Social Media Cease and Desist 98

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.

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Copyright IP Ownership Copyright Infringement 89

LexBlog IP

APRIL 13, 2022

As previously reported on this blog , non-fungible tokens (or “NFTs”) recently emerged as one of the hottest new items on the art market—artists, auction houses, museums, sports organizations and others have jumped at the chance to create and sell their own versions of these unique tokens. Copyright Claims: Roc-A-Fella Records Inc.

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Non-Fungible Tokens Social Media Contracts Branding 52

IP and Legal Filings

FEBRUARY 7, 2023

Virtual characters can play themed games, create original artwork, visit exhibition locations, shop for virtual clothing for their collections or gaming outfits, and partake in social events after arriving in “Gucci Town.” Users are expressing their annoyance at the frauds that have already taken over the NFT market.

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Trademark Non-Fungible Tokens Branding Branding 95

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

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Copying Non-Fungible Tokens Contracts Copyright 126

IIPRD

AUGUST 4, 2022

‘Influencer marketing,’ albeit a new word, has emerged as one of the most effective strategies to create money across all industries. In today’s market, a distinct brand identity is critical in all company sectors. Build your market reputation. Trademarks. Make intangible assets.

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Social Media Intellectual Property Non-Fungible Tokens Music 45

LexBlog IP

OCTOBER 18, 2023

27, 2023), involving a dispute between two businesses located in the same art gallery, serves as a reminder to New York art market participants to take care to avoid attorney conflicts of interest. 11] The decision provides a lesson for art market participants. Aicon Contemporary LLC , No. 650580/2023, 2023 N.Y. 33340(U) (N.Y.

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43(B)log

AUGUST 9, 2024

Here the tool is the “public benefit” subfactor of fair use, aimed at balancing public benefits with market harms. But deeply troubled by algorithmic fair use cases that allowed lots of exploitation—iParadigms (plagiarism detection) and Perfect 10 (exposing women to public view when they contracted for more restricted nudity).

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Fair Use Marketing Marketing Licensing 59

LexBlog IP

JANUARY 12, 2023

For trademarks, a good place to start is the company’s marketing and promotional materials, website, mobile app, and social media. Sometimes marketing departments and independent divisions spin out valuable intellectual property assets that, for one reason or another, never made it past the desk of general counsel or a responsible executive.

IP 52

IP Intellectual Property Social Media Cease and Desist 52

LexBlog IP

MAY 19, 2023

AWF argued that the Prince Series is sufficiently transformative of Goldsmith’s original photograph because the artworks convey a different meaning or message than her photograph. For those willing to accept the work, expect strong warranties and artist indemnification contract clauses. 1] See Andy Warhol Found.

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Licensing Fair Use Copyright Derivative Work 52