Intellectual Property Rights

Smart Contract

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What is an Intellectual Property Rights Smart Contract

An intellectual property rights smart contract is an agreement recorded on the blockchain, stating that a specific individual or business may do certain acts without infringing the owner's intellectual property rights; at the same time its confirms ownership of the property to the author.

Key Features

  • Store partial

    identity information on the blockchain

  • Complete verification

    automatically

  • Monetise

    specific personal information

  • Merge with other

    smart contracts

Overview

Piracy and authorship violations are a big issue within the entertainment industry. Musicians, photographers, writers, and other artists are deprived of their royalties due to the dishonest exploitation of their intellectual property.

Making a transparent registry of authorship on a blockchain is an ambitious example of how smart contracts may improve the current state of affairs. For instance, whenever someone downloads your novel or stock photo, you get a refund automatically.Moreover, your rights are registered securely, and no one would be able to alienate them.