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Introduction Intellectualproperty entails the protection of legal rights for inventions and creations made by individuals or businesses using their minds. Such works of art benefit the creator, and they are protected by the law of intellectualproperty. These advantages can be made profitable for the owner.
NFTs ( Non-fungibletoken ) are digital assets that represent tangible or intangible items, built on existing or newly-created blockchain networks. Since each NFT has a unique encoding, unlike cryptocurrencies with fungibleproperties, its denomination is based on the quantity and uniqueness of each item.
In this paper, it is argued that Private-property law must be the field of law governing transactions involving Non-FungibleTokens. 1] Consequently, Personal Property law has not yet been invoked to govern online transactions. Which field of law will govern such digital assets and the NFT technology?
Introduction - THE METAVERSE: A GENERAL OVERVIEW - Although it may seem that the Metaverse is a new catchphrase, which is further emphasised and made more popular in the technology space with the rebranding of Facebook as Meta, the original version of the Metaverse was created as far back as 2003 by Philip Rosedale and was called “Second Life”1 , a (..)
Non-fungibletokens (NFTs) have reshaped our socio-legal understanding of "property." NFTs, however, have played a major role in shifting our valuation of assets beyond the physical realm, extending instead to the recognition of digital property rights in the non-physical (cyber) space.
My focus was on non-fungibletokens (or NFTs) and intellectualproperty rights. … The post Non-fungibletokens (NFTs) and intellectualproperty rights appeared first on Barry Sookman.
The metaverse and non-fungibletokens (NFTs) are common buzzwords as of late. Why are they doing so, and why is it important to protect your intellectualproperty as it pertains to the metaverse and NFTs?
Copyright Office requesting a study of intellectualproperty (IP) issues related to non-fungibletokens (NFTs). Citing their roles as leaders of the Judiciary Subcommittee on IntellectualProperty and the growing use of NFTs across different fields, Sens. Patrick Leahy (D-Vt.) and Thom Tillis (R-N.C.)
Copyright Office issued a Federal Register Notice (Notice) announcing the offices’ joint study of intellectualproperty (IP) issues related to non-fungibletokens (NFTs). Patent and Trademark Office (USPTO) and the U.S. By: Skadden, Arps, Slate, Meagher & Flom LLP
The Trademark Office of the China National IntellectualProperty Administration (“Chinese Trademark Office” or “the Office”) has recently approved a slew of marks filed for non-fungibletokens (“NFTs”) and other goods and services for use in the metaverse.
Copyright Office published a joint notice of inquiry in the Federal Register announcing that the two agencies would be collaborating on a study regarding intellectualproperty legal issues related to digital assets known as non-fungibletokens (NFTs).
On April 3, 2023, the UK IntellectualProperty Office (UKIPO) issued much needed guidance on how digital goods and services – namely non-fungibletokens (NFTs), virtual goods, and services provided in the metaverse – should be classified for trademark purposes.
The US Patent and Trademark Office (USPTO) and the Copyright Office have published the results of their joint study on non-fungibletokens (NFTs) and intellectualproperty (IP). The Report was created in response to a June 2022 request from Senators Patrick Leahy (D-VT) and Thom Tillis (R-N.C.) By: AEON Law
” NFTs, or non-fungibletokens, have seen both big sales and big business in the past year. This may open the door for other intellectualproperty violations, including of both copyright and trademark. The 3 Count Logo was created by Justin Goff and is licensed under a Creative Commons Attribution License.
The United States Patent and Trademark Office (“USPTO”) and the United States Copyright Office (“USCO”) delivered a report to Congress entitled Non-FungibleTokens and IntellectualProperty on March 12, 2024 (“Report”). By: Sheppard Mullin Richter & Hampton LLP
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.
2021 was a big year for Non-FungibleTokens (NFTs) resulting in significant commercial value. The creators behind Cryptopunks, an NFT project with over $2 billion worth of trading volume, signed a representation deal with a leading Hollywood talent agency to pursue a range of commercial projects.
The use of NFTs ("Non-fungibleTokens") can constitute a trademark infringement. This was recently decided by the IP Chamber of the Court of Rome (Tribunale di Roma, decision of 20 July 2022, ref. 32072/2022).
Consider the recent WIPO webinar , "Blockchain Whitepaper for IP Ecosystems", at which the view was expressed that the future of IP management rights could include a solution that utilizes tokens, and, in particular, non-fungibletokens. royalty payments, time of use), or separately linked to the token.
The European IntellectualProperty Office (EUIPO) has recently issued some guidance notes on its approach to classifying items relating to virtual and non-fungibletokens (NFTs). The items “ virtual goods ” and “ non-fungibletokens ” are both unacceptable on their own.
On November 23, 2022, the US Patent & Trademark Office and the US Copyright Office announced that they are seeking public input on intellectualproperty (IP) considerations related to non-fungibletokens (NFTs). By: McDermott Will & Emery
When Hollywood director Quentin Tarantino tried to create an NFT project using intellectualproperty owned by the studio, the reaction from the execs was less than enthusiastic. NFT's have reignited and expanded the market for digital art. By: Jaburg Wilk
Overview Non-FungibleTokens (NFTs) continue to generate significant commercial value for brands through the licensing or transfer of intellectualproperty and commercial rights. This is part 4 of our IP Update series exploring the evolving landscape for Internet, Digital Media and e-Commerce.
NON-FUNGIBLETOKENS AND TRADEMARK INFRINGEMENT: WHERE DOES THE LAW STAND? This case is an important one to follow because it will likely shape the course of how intellectualproperty law will apply to non-fungibletokens (NFTs). District Court for the Southern District of New York.
Latham & Watkins lawyers discuss the emerging technology of non-fungibletokens (NFTs), including how they function and their various legal implications in the US, UK, and APAC.
This is a book review of Teaching IntellectualProperty Law: Strategy and Management edited by Sabine Jacques, Associate Professor in Information Technology, Media and IntellectualProperty Law, University of East Anglia Law School and Ruth Soetendorp, Visiting Academic, City University of London and Professor Emerita, Bournemouth University.
As the metaverse continues to become a more established marketplace, and consumers become more familiar with non-fungibletokens (NFTs), NFT marketplaces, decentralized domains, bitcoin, crypto wallets and the blockchain, it is no surprise that intellectualproperty (IP) owners are starting to see an increase in unauthorized uses of their trademarks (..)
Apart from this, Non-FungibleTokens, the brainchild of Kevin McCoy and Anil Dash, is a unit of data stored in a digital ledger that certifies that the digital asset is unique and is hence non-interchangeable. Non-FungibleTokens (NFTs) have garnered attention and popularity in 2021.
The ascendance of non-fungibletokens (NFTs) as an asset class also has caught practically everyone off-guard. Many intellectualproperty owners believe that these blockchain-based disruptions have created opportunity, while others see a darker and more impermeant scenario.
The recent buzz around Non-FungibleTokens (NFTs) has created a wealth of both opportunity and legal issues. IntellectualProperty and Contract law are fascinating for their legal complexities and their adaptability to modern times.
NFTs—or Non-FungibleTokens—continue to raise new legal questions, particularly involving intellectualproperty rights and the enforcement of those rights against bad actors. By: Brownstein Hyatt Farber Schreck
Luxury fashion brand Hermès won their trademark lawsuit against Mason Rothschild, the creator of the non-fungibletokens (NFT) MetaBirkins, on Wednesday. The trial was the first legal case that tested the bounds of artistic expression in NFTs against the country’s intellectualproperty laws.
Quentin Tarantino recently announced plans to auction off seven scenes from the 1994 motion picture Pulp Fiction as non-fungibletokens or NFTs. They will be auctioned on the NFT marketplace OpenSea and are built on the blockchain platform Secret Network, By: Mintz - IntellectualProperty Viewpoints
As we have previously written, non-fungibletokens, or NFTs, present novel challenges and opportunities for intellectualproperty holders. NFTs continue to make waves, even as there is much speculation about their long-term future. By: Sunstein LLP
Luxury brand Hermes' win Wednesday against an artist's "MetaBirkins" non-fungibletokens won't end the debate over intellectualproperty rights and NFTs, but it may serve as a cautionary tale for how artists name and promote their NFT projects, attorneys told Law360.
A comment to the EUIPO Guidance on NFTs by Paolo Maria Gangi As The IPKat reported a few days ago here , the European IntellectualProperty Office (EUIPO) has recently released some guidance notes on its approach to the classification of non-fungibletokens (NFTs).
With a market capitalization forecast of over $35 billion for 2022, there is no question that non-fungibletokens (NFTs) are hugely popular. Despite this, the intellectualproperty rubric underlying these NFT offerings are inconsistent, confusing, and in many cases in conflict with applicable law.
While intellectualproperty legal disputes are nothing new in Hollywood, the non-fungibletoken (“NFT”) subject matter makes the case novel. By: Jaburg Wilk
As we’ve explained before, a Non-FungibleToken (NFT) isn’t a form of intellectualproperty (IP). Instead, it’s more like a receipt for a unique item of IP, to show that you own it – like a pink slip for a car or the deed to a house. By: AEON Law
Given the recent rise in the popularity and profitability of non-fungibletokens (NFTs), celebrities have entered the market not only by purchasing NFTs, but also by minting their own.
has filed a federal complaint against StockX, LLC, an online resale marketplace, in the Southern District of New York, alleging that StockX is minting and selling non-fungibletokens (“NFTs”) that infringe Nike’s intellectualproperty. Nike -v- StockX Duel Is on Pace To Shape the Future of the Metaverse Nike, Inc.
Nonfungibletokens (NFTs) , the latest vehicle for capturing, linking to and licensing intellectualproperty. 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. . Like us on Facebook- [link].
With the proliferation of non-fungibletokens (“NFTs”), particularly in the art space, an interesting and potentially groundbreaking practice has developed where certain intellectualproperty (“IP”) pertaining to the NFTs is licensed to the NFT buyers and their subsequent transferees.
Few issues in the world of intangible rights contain as many legal uncertainties as do non-fungibletokens. Non-FungibleTokens (NFTs), ranging from art and literature to fashion and cinema, remain among the hottest legal topics in the world of intangible rights, despite the lack of clear legal regulation.
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