Unified Global IP System
Posted: Tue Dec 24, 2024 8:17 am
By creating and timestamping digital certificates of creative works. Once the data is on the blockchain, it is virtually impossible for anyone to hack or access it without permission. This certificate is therefore an irrefutable proof of ownership.
Piracy can be prevented by accessing the original data on the blockchain ledgers.
By acting as an authentication tool, which establishes and proves the rightful ownership. Since duplicate information cannot be stored on blockchains, they can help validate the integrity of an intellectual asset. Therefore, the timestamping and validation features of blockchain can be a great way to protect one’s IP assets.
Creating an IP Market
Blockchains can be invoked to design and create an efficient online marketplace for IP assets. The power of blockchain can be harnessed to enable a bidding platform where businesses can participate. After a successful transaction, ownership of the patent, along with the agreed transfer amount and legal fees, will be instantly transferred to the respective participants using cryptocurrency. By creating a global online registry of patents, copyrights, trademarks, etc., blockchain can expedite audits and maintain due diligence in IP transactions. Blockchain Distributed Ledger Technology can therefore offer a strong and secure foundation for the transfer and exchange of IP assets in the near future. IBM and IPwe have already created the Global Patent Registry, which is the world’s first blockchain-based registry to collect active and historical records.
The current fragmented IP system across countries creates problems that can be easily solved by using blockchain decentralized ledger technology. It could be useful in unifying the patent system across nations and improving IP management . As more countries move towards adopting blockchain as “admissible evidence,” the IP landscape can expect better management, faster innovation, and faster dissemination of information. In recent years, courts around the world have considered blockchain as a form of electronic evidence:
Vermont's Rules of Evidence acknowledge that blockchain receipts are admissible.
Delaware General Corporation Law now allows businesses to Costa Rica Phone Number Library maintain records using “distributed electronic networks or databases.”
China's Supreme Court has formally recognized Blockchain evidence as admissible digital evidence in the case of tech giant ByteDance Douyin v/s Baidu.
Given the increasing acceptability of blockchain as a proof of evidence, future governments may see it as a foundational technology, thereby unifying the global IP system.
Control and Maintenance of Digital Asset Versions
Different versions of patents, copyrights, etc., are created over the years, so they need to be assimilated and linked. Using blockchain ledger technology, all these versions can be easily linked and maintained over their lifetime. This version control can also be helpful in creating prior art publications. Establishing prior art is a protective measure to protect innovations from being copied during the patenting process . Using blockchain, each file can be given a unique fingerprint, made indexable and searchable, and serve as prior art.
Piracy can be prevented by accessing the original data on the blockchain ledgers.
By acting as an authentication tool, which establishes and proves the rightful ownership. Since duplicate information cannot be stored on blockchains, they can help validate the integrity of an intellectual asset. Therefore, the timestamping and validation features of blockchain can be a great way to protect one’s IP assets.
Creating an IP Market
Blockchains can be invoked to design and create an efficient online marketplace for IP assets. The power of blockchain can be harnessed to enable a bidding platform where businesses can participate. After a successful transaction, ownership of the patent, along with the agreed transfer amount and legal fees, will be instantly transferred to the respective participants using cryptocurrency. By creating a global online registry of patents, copyrights, trademarks, etc., blockchain can expedite audits and maintain due diligence in IP transactions. Blockchain Distributed Ledger Technology can therefore offer a strong and secure foundation for the transfer and exchange of IP assets in the near future. IBM and IPwe have already created the Global Patent Registry, which is the world’s first blockchain-based registry to collect active and historical records.
The current fragmented IP system across countries creates problems that can be easily solved by using blockchain decentralized ledger technology. It could be useful in unifying the patent system across nations and improving IP management . As more countries move towards adopting blockchain as “admissible evidence,” the IP landscape can expect better management, faster innovation, and faster dissemination of information. In recent years, courts around the world have considered blockchain as a form of electronic evidence:
Vermont's Rules of Evidence acknowledge that blockchain receipts are admissible.
Delaware General Corporation Law now allows businesses to Costa Rica Phone Number Library maintain records using “distributed electronic networks or databases.”
China's Supreme Court has formally recognized Blockchain evidence as admissible digital evidence in the case of tech giant ByteDance Douyin v/s Baidu.
Given the increasing acceptability of blockchain as a proof of evidence, future governments may see it as a foundational technology, thereby unifying the global IP system.
Control and Maintenance of Digital Asset Versions
Different versions of patents, copyrights, etc., are created over the years, so they need to be assimilated and linked. Using blockchain ledger technology, all these versions can be easily linked and maintained over their lifetime. This version control can also be helpful in creating prior art publications. Establishing prior art is a protective measure to protect innovations from being copied during the patenting process . Using blockchain, each file can be given a unique fingerprint, made indexable and searchable, and serve as prior art.