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In May 2021, a phenomenal IPilogue submission by Keir Strickland-Murphy (Osgoode Law ‘22) touched on the recent boom of Non- fungibleTokens. In this piece, I will recapitulate Strickland- Murphy’s exploration of IP ownership of Non-fungibleTokens and expand on recent developments since May.
Overview Non-FungibleTokens (NFTs) continue to generate significant commercial value for brands through the licensing or transfer of intellectual property and commercial rights. This is part 4 of our IP Update series exploring the evolving landscape for Internet, Digital Media and e-Commerce.
In this video, Blockchain attorney Enrico Schaefer identifies key legal issues every brand, marketing agency, or project point person needs to be thinking about before launching an NFT project for a company. Are major brands are dropping NFTs? What big brand names are dropping NFTs? The answer might surprise you.
Nonfungibletokens (NFTs) , the latest vehicle for capturing, linking to and licensing intellectual property. The tokenization of digital files so that a single owner of that file can be recorded on the blockchain and identified is an important breakthrough in IP protection. . You bought a Bored Ape NFT.
INTRODUCTION The fashion industry, celebrated for its artistic expression and creativity, has recently ventured into the digital frontier through Non-FungibleTokens (NFTs). The Intersection of Fashion and NFTs The fashion industrys adoption of NFTs has transformed how brands and creators interact with consumers.
Today, we’re going to talk about non-fungibletokens (NFTs). These NFT drops offer valuable learning lessons which every NFT project, brand, and company must consider before launching their NFTs project. These two projects offer a roadmap for any company, brand, or agency looking to launch an NFT project.
Currently, brand owners are at a crossroads—should they dip their toes into new web3 mediums and opportunities, or should they guard against potential pitfalls in this new space? By: Venable LLP
This is a story of an NFT project which got off to a great start but was built on a weak foundation by the game and NFT company Animoca Brands , which brands itself as “Driving digital property rights via NFTs and gaming to build the open metaverse.” The brandlicensing deal apparently had a ‘term’ that expired.
The fleeting non-fungibletoken (NFT) craze showed that some people are willing to pay vast amounts of money for digital assets that are not guaranteed to retain their value. Major brands such as Coca-Cola, Disney, Nike, and Ubisoft were quick to jump on the bandwagon, for example.
The United States Patent and Trademark Office (“USPTO”) and the United States Copyright Office (“USCO”) delivered a report to Congress entitled Non-FungibleTokens and Intellectual Property on March 12, 2024 (“Report”). While the Report is comprehensive, it does not recommend any new action to address IP issues with NFTs.
Another layer of complexity arises from the unique characteristics of non-fungibletokens (NFTs), which have become the metaverses digital asset backbone. Users can create near-identical replicas of popular digital assets, including NFTs, virtual clothing, or branded environments, undermining the value of original creations.
There has obviously been a considerable amount of excitement around non-fungibletokens (NFTs) over the last few years and some interesting developments in the last few months. 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.
NFT stands for non-fungibletoken. Non-fungible basically means unique. By way of comparison, a $10 note is an example of a fungible asset, because it can be replaced with another $10 note, or two $5 notes. Trade marks are typically associated with a brand and may include brand names, slogans and logos.
Whether you are looking to make your own nonfungibletoken to sell or you’re looking to buy an NFT as an investment, you need to be aware of copyright and trademark laws that might apply to your NFT. Are NFTs (NonFungibleTokens) Considered Intellectual Property? What is a NonFungibleToken?
With the Metaverse and Non-FungibleTokens (NFTs) being the common buzzwords as of late, the USPTO (US Patent & Trademark Office) has been experiencing a significant rise in the number of Trademark Applications filed in the virtual sphere to safeguard the products and services. A Comprehensive Approach to IPRs.
An NFT or “non-fungibletoken” is a digital asset that links ownership to unique digital items. Non-fungibletokens have been designed to give you ownership of something that cannot be replicated or copied. Non-fungibletokens are a relatively new thing and even newer in the gaming industry.
Chris is supervised by attorneys who are licensed in the State of Texas. Trademark Office is trying to help brand owners keep up with the ever-evolving labyrinth of brand protection by including the emerging NFT technology. Andersen, a Senior Paralegal in NRF’s Dallas Office. Thanks in large part to a Bored Ape the U.S.
The dispute raised questions about a long-debated issue, namely the unauthorized use of images first posted on Instagram and other social media platforms (particularly in light of social media platforms' terms and conditions that allow authors to grant an implied license to repost their works on the platform).
Some platforms count youth, even those as young as age 7, as their biggest earners: They have built followings through content creation, created brands and then further leveraged the value already created to extend their brands into merchandising and non-fungibletokens, for example.
Some platforms count youth, even those as young as age 7, as their biggest earners: They have built followings through content creation, created brands and then further leveraged the value already created to extend their brands into merchandising and non-fungibletokens, for example.
The basic explanation is that an NFT, or “non-fungibletoken” is a digital asset that links ownership to unique digital items. Non- fungibletokens have been designed to give a person ownership of something, kind of like modern day digital collectibles. What are NFTs? NFT Technology. NFTs in Video Games.
[Image Sources : Istock] Metaverse- a Magnet to Fashion Brands Virtual worlds provide fashion brands with the opportunity to significantly cut down on the excessive resource consumption of lifestyle and create sustainability. Fashion brands are no strangers to the continuous fight against fake and counterfeit items in the real world.
NFTs (non-fungibletokens, not thoroughbreds) were not a disappointment but instead were all the rage for holiday giving this year, including offerings from brands such as Adidas and Balmain x Barbie. And we might see you there! Better to assume little experience and make very clear what good is being purchased.
Introduction Digital technologies such as the metaverse, non-fungibletokens ( NFTs ), blockchain and augmented realities are directly influencing how we cultivate and protect various forms of intellectual property, including trade marks. physical) marks. It will be worthwhile keeping a watchful eye on the outcome of this one.
Principal Cynthia Walden and Associate Sarah Kelleher discuss the non-fungibletoken (NFT) trend across the fashion industry and what this digital arena means for trademark protection and enforcement. Now, luxury brands and other apparel and consumer goods companies are diving in. PDF copy available.
The United States Patent and Trademark Office (“USPTO”) and the United States Copyright Office (“USCO”) delivered a report to Congress entitled Non-FungibleTokens and Intellectual Property on March 12, 2024 (“Report”).
As in the real world the logos, domain, and brand names of products and services are protected under Trademark, virtual goods, and services can be trademarked in the United States Patent and Trademark Office (USPTO). That may include decentralized content creation platforms, IP registries on a blockchain, and smart contract licensing systems.
But in this sphere of metaverse and blockchain currencies, the Ethereum blockchain has gained skyrocketing popularity with the evolution of Non-FungibleTokens. Non-FungibleTokens mainly refer to digital files of various digital as well as physical goods and creations that are stored as tokens and can be traded easily.
What is the difference between “fungible” and “non-fungible”? Like a Bitcoin or Dogecoin, a Non-FungibleToken (NFT) is a digital asset that has been certified as authentic on a Blockchain ledger. NFTs are a new and exciting area in the crypto world.
In today’s market, a distinct brand identity is critical in all company sectors. Influencers that make a lot of money from internet marketing must also defend their own brand identification. Maintain your distinct brand identity. . Trademarks. The easiest method to accomplish this is to register a trademark.
As previously reported on this blog , non-fungibletokens (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.
Licensing of rights: How should IP rights in the associated asset be licensed in an NFT context? In this context, the joint federal agency study is meant to address a number of key issues, including: Acquisition of rights: Who owns what if the NFT creator is a different person or entity than the creator of the underlying asset?
This valuation allows IP to be recognized as an asset in corporate balance sheets, facilitates mergers and acquisitions, and informs licensing or transfer decisions. The rise of digital assets and Non-FungibleTokens (NFTs) adds new dimensions to the field of IP valuation.
The emergence of blockchain-supported Non-FungibleTokens (NFTs) has captured the interest of the entertainment and business worlds in the past couple of years. In turn, this attracts interest from businesses ranging from fashion and sports brands, sport teams, designers, game developers, and other content owners.
NFTs (Non-fungibletokens), which act as a certificate of ownership for whatever the creator puts up for sale, allow artists to set their preferred terms of contract while making sales. Resonance Digital LLP & Anr. 14 July, 2021]. The Income Tax Appellate Tribunal (Bangalore) in Citrix Systems Asia Pacific Proprietary Ltd.
The emergence of blockchain-supported Non-FungibleTokens (NFTs) has captured the interest of the entertainment and business worlds in the past couple of years. In turn, this attracts interest from businesses ranging from fashion and sports brands, sport teams, designers, game developers, and other content owners.
HUL) brand, which compares the brand to Harpic. A non-fungibletoken (NFT) marketplace has been launched by Alibaba Group of China, which permits customers to buy and sell NFTs while also facilitating licensing and selling of IP.
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