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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”).
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 trademarklaws that might apply to your NFT. Trademark rights can be even more confusing to navigate in the world of NFTs.
Non-fungibletokens (“NFTs”) continue to be popular. Additionally, pursuant to Article 25 of the ITE Law, electronic information and electronic documents formed into an intellectual work, internet site or intellectual work contained therein are protected by intellectual property rights. Introduction.
Non-fungibletokens, or NFTs, have come to hold a fundamental place in the digital universe and, specifically, in the so-called Web3. Although at present NFTs are scarcely used beyond mere collectibles, the growing interest in the metaverse is making non-fungibletokens extremely useful assets in our virtual lives.
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”).
The auction of NFT ( non-fungibletokens ), which we addressed in this post , comprising wearable works of digital art, has revolutionized the trademark industry. Consequently, the law envisages that a work can be expressed in an intangible medium, i.e., that it cannot actually be touched. Image rights of avatars.
This historic ruling created a precedent for companies looking to protect their trademarks in the metaverse and sparked debate about whether Non-FungibleTokens (NFT) are protected by intellectual property laws. The jury gave Hermès a damages award of almost $133,000.
The first and the foremost question which crosses our minds is that does the digital assets in the virtual reality fall under the category of “Goods” under trademarklaw, and who should be held liable for infringement when the infringer is unknown. Patent Infringement.
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