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IP Strategy

How Blockchain will Impact IP, from Data to Deployment

By June 27, 2022No Comments

As an innovator in a STEM field, you’re almost certainly familiar with blockchain technology and its potential to drive change in your field. Automatically updated and immutable records of the assignee, company, and transfer data have profound implications for those who need to track the ownership and use of the intellectual property. Blockchain also has the potential to make licensing and distribution of IP easier and more flexible.

AI-enhanced tools like IP.com’s end-to-end innovation solutions made fast, comprehensive database searching a reality. Advancements in blockchain and related search technologies could benefit organizations looking to monetize innovation even further. Powerful and customizable technologies are being developed to search, identify, and visualize new data sets. This will provide innovators with the knowledge and confidence to move forward with an idea and further automate or simplify long-standing bottlenecks in the innovation lifecycle.

Searching on Blockchain

Search tools and the data they render are often only as good as the databases themselves. But the potential of the blockchain as an immutable, real-time, and automatic record that is both accessible and secure is immense. These, combined with the technology’s increasing interoperability, promise to make databases more flexible, faster, and more reliable.

Deployment of IP on Blockchain

Each type of IP—including trademarks, copyrights, and patents—could see enhanced real-world deployment in the form of licensing and patent portfolio-building opportunities due to the blockchain.

Trademarks on Blockchain

The blockchain has the potential to solve integrity and ownership problems central to current peer-to-peer sharing, which are the main issues in standard file-sharing systems. In the proposed scheme, user registration and activities are handled by decentralized applications. From the beginning to the most recent version, the blockchain smart contract governs, monitors, and provides tracking and visibility into the shared content’s record.

Imagine a marketing company doing work for a Fortune 500 corporation with a trademarked logo. The marketing company needs access to the logo to add it to the collateral they are creating for you. However, like most big companies, you are serious about protecting your brand. So you make your logo an NFT stored on the blockchain. Now, you’re more easily able to provide the right people access to the logo and prevent its misuse or duplication. And if it is duplicated or used elsewhere, you can easily prove that it is not your company’s the asset is stored on the blockchain.

Copyrighted Materials on Blockchain

Matters such as content security, copyright protection, and piracy tracing are increasingly more pressing for the owners, producers, and distributors of copyrighted content. There are still very few blockchain-based copyright protection systems but they are expected to arrive in the near future.

Multimedia content protection systems will be increasingly built to support blockchain technology and interoperability of distributed systems, creating automatically flexible media files with permissions to be used only in specified circumstances.

Patents on Blockchain

With blockchain acting as a flexible, dynamic database, the potential exists for additional AI-enhanced search capacity and the storing of unique data points. These features could help innovators track patents in real-time, while improving the identification of patent trees and semantic patent mapping.

In terms of patent licensing, blockchain will enable more efficient smart contracts that allow for automated IP access, set to run when certain conditions are met. They can be designed to automate the execution of an agreement so that all parties can be confident IP is not misused.

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