The term “blockchain” refers to a system or database in which producers can provide tests via digital publication, resulting in a quick systematization of the documents offered. There are two aspects that define blockchain: immutability; and transparency. Users of the database may be certain that their information will not be compromised because of these two aspects.
Intellectual property and blockchain
When blockchain meets intellectual property, it creates databases that strive to preserve authorship in a secure and simple manner while simultaneously allowing people to exchange IP-related data in a variety of ways. They will, for example, have the ability to submit private papers. IPCHAIN, for example, is known for its tight connections with IP offices and has partnered with organizations such as:
- World Intellectual Property Organization (WIPO) Green (a WIPO association that promotes the innovation and diffusion of technologies);
- the Marie Curie Alumni Association (which represents the interests of more than 10,000 European researchers).
Such platforms are appealing in the context of intellectual property because of the protection they provide, particularly for sensitive procedures such as transfers or contractual agreements. A license agreement is an example of this; in reality, it can be difficult to uncover violations of such agreements. However, because a blockchain system exists, if a contract is registered and a breach of the contract’s conditions is discovered, the contract will be immediately terminated.
On the subject of copyright, blockchain technology can also play an essential role in demonstrating creation. This example is what keeps other people from copying your work. Users can upload many sorts of content (for example, musical, artistic, or audiovisual works) to such systems and have them stored on the blockchain. This provides an IP record, which allows the creator to prove the date the work was created. Another way that blockchain might help with copyright protection is in calculating the profits that a composer can make from their song. Because it would be difficult to keep track of every time certain music is played, this calculation might be difficult.
One of the standards should be that all services must return data to the spores. Data about where, when, and how people interact with our music, as well as who creates it. This information is valuable for artists since it allows us to better understand our audience, develop possibilities to advertise our work more efficiently, and get a financial return for our work.
We would utilize “smart contracts,” which specify the legal arrangements connected to the creation and use of a work in a variety of circumstances, such as advertising campaigns in line with another standard. Artists might be notified that a transaction has occurred, and all people who contributed to the production would be paid royalties each time the piece is utilized, according to these contracts.
Blockchain systems are also attempting to be beneficial in the domain of patents, and there have been discussions about the system’s usefulness in this area. Blockchain has been offered as a solution to problems such as:
- the cost of patents, which causes some owners to choose to commercialize their patents without putting in place any protection;
- differences between patent systems in different countries; and
- so-called “patent trolls”, who acquire patents and request compensation for damages for their infringement.
Blockchain provides a variety of benefits that might be useful in the field of intellectual property. It provides secure and reliable records that are difficult to remove, allowing users to preserve up-to-date copies of data and maintain control over the actions and data submitted into the system. Blockchain technologies can potentially help users save money by preventing harmful attacks and lowering protection costs.
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