Remove Contracts Remove Invention Remove Non-Fungible Tokens
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Non-fungible Tokens: Commercializing Exclusive Digital Art- A Companion Piece

IPilogue

In May 2021, a phenomenal IPilogue submission by Keir Strickland-Murphy (Osgoode Law ‘22) touched on the recent boom of Non- fungible Tokens. In this piece, I will recapitulate Strickland- Murphy’s exploration of IP ownership of Non-fungible Tokens and expand on recent developments since May.

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

IP and Legal Filings

Introduction Intellectual property entails the protection of legal rights for inventions and creations made by individuals or businesses using their minds. Copyrights safeguard the artists’ rights in the inventive and imaginative content that abounds in digital media. These advantages can be made profitable for the owner.

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The USPTO and USCO Delivered a Report to Congress on IP Issues with NFTs – Maintains Existing IP Regime

Intellectual Property Law Blog

The United States Patent and Trademark Office (“USPTO”) and the United States Copyright Office (“USCO”) delivered a report to Congress entitled Non-Fungible Tokens 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.

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‘Tarantino Doesn’t Own the Copyright to Pulp Fiction Screenplay NFTs’

TorrentFreak

Movie studio Miramax, which owns most of the rights to the film, sees the plan as a contract breach and copyright infringement. The legal paperwork also carved out a section for the distribution of content in new types of media that had yet to be invented. NFT Copyright Battle.

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The Contested Meaning of Web3 & Why it Matters for (IP) Lawyers

Kluwer Copyright Blog

Besides, creators can benefit from smart contracts and determine that a certain percentage of the sales price goes to the original creator each time the work is resold. Blockchain-powered timestamps coupled with smart contracts could help address complex copyright and other IP-related problems (patents, trademarks, etc.)

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The USPTO and USCO Delivered a Report to Congress on IP Issues with NFTs – Maintains Existing IP Regime

LexBlog IP

The United States Patent and Trademark Office (“USPTO”) and the United States Copyright Office (“USCO”) delivered a report to Congress entitled Non-Fungible Tokens and Intellectual Property on March 12, 2024 (“Report”). For now, not much will change from a legislative perspective.

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The Rise of NFTs and Its Legal Complications

IP and Legal Filings

NFT stands for Non-Fungible Tokens. Crypto is fungible i.e., they can be traded; one for another however, NFTs are unique, and one can’t be equal to another. This whole process of commercially buying unique digital art in the form of non-fungible tokens is based on a public ledger called the Ethereum blockchain.