Articles Tagged with intellectualproperty

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Artists have found a great deal of value in marketing their work on NFT markets owing to the ease of receiving royalties generated through their creations. That said, there are a number of intellectual property implications that have come forth as NFTs have climbed in popularity. We’ll discuss a few of those implications here.

Transfer of IP Rights – A Common Misconception

If you’re familiar with NFTs, you are likely already aware of how IP rights are handled. For everyone else, a common misconception is that an NFT represents the copyright to its underlying asset, be it artwork, music, videography, etc.

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Organizing events, running tournaments, and managing teams in esports involves various types of intellectual property, including the games themselves. Making sure IP is handled properly in your events is key to minimizing liability and maximizing success.

Here, we’ll discuss a number of potential IP issues in esports.

Types of IP in Esports

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As the field of digital currency evolves, numerous issues and conflicts are bound to arise. With that, the ways those issues are resolved are likely to morph over time as well. This includes issues related to intellectual property.

While long-standing policies and practices have been applied to various IP-related matters that have sprung up over the last few years, there isn’t much in the way of either case law or rigid policy when it comes to cryptocurrency itself. These areas are likely to evolve as time progresses. In this article, we’ll discuss some of the ways IP law has been applied to virtual currency.

Secure IP Early On – If Possible

Most businesses derive a great deal of value from their intellectual property. As such, when someone infringes upon your IP rights, it’s important to be able to defend them. However, that doesn’t always require a lawsuit. IP litigation can be expensive, so alternative dispute resolution methods are often preferred.

Following are a few ways to quickly resolve an IP dispute without resorting to litigation.

Letter of Demand

If you’re a small business with an invention, process, formula, or similar type of intellectual property, you may balk at the cost of patenting it. In some cases, keeping it as a trade secret may be a preferable option to filing for a patent.

Difference between Trade Secrets and Patents

Patents are official government licenses that give you exclusive rights to profit off of your inventions for a set period of time. It covers such items as manufacturing, reverse engineering, or selling your invention.

Protecting your company’s intellectual property is a top priority, but finding the best way to do so may be a challenge. When it comes to safeguarding inventions, one of the available options is to file for a patent.

Patents are granted through the US Patent and Trademark Office (USPTO) in order to allow you the exclusive right to produce, make, use, or sell an invention. They last for 20 years, during which those exclusive rights are legally enforceable.

Advantages of Patents

Some types of intellectual property have limits on how long they can be covered by IP protection laws. The length of time these protections last depends on the type of IP, such as whether it’s copyrighted material, patented inventions, or trademarks. The steps you take to protect them may also come into play.

Here, we’ll look at how long IP protections last for most types of intellectual property.

Copyrights

The pandemic has prompted various companies to donate patents to research facilities and similar organizations in order to help combat the coronavirus. While donating patents to research organizations and universities can accomplish something truly good for society, it needs to be done responsibly.

A Chance to Do Something Good – If Done Wisely

Often, businesses will hold patents for inventions that they aren’t currently using or developing. They may not find it worthwhile to maintain these patents themselves, in which case they have the option of donating them to nonprofit organizations.

Given the concentration of illness present at many healthcare facilities, it’s important for them to take stringent measures to prevent the spread of disease such as COVID-19 and common hospital infections. If you fall seriously ill as a result of being treated at a hospital, you may have a case, though there are factors that could keep you from recovering damages.

Note that during the coronavirus pandemic in Illinois, any healthcare facility that provides care or assistance for those who have contracted COVID-19 has some immunity to liability, so if your illness dates to this time, you likely won’t be able to recover damages.

Cases Involving Medical Infections

Most facets of life have been impacted by COVID-19, including the way we handle intellectual property. From enforcing IP protections to safeguarding trade secrets, the pandemic has introduced a number of changes.

Impact on IP Used in Remote Business Operations

For companies that have transitioned to remote work-forces, the way trade secrets and other sensitive information is protected has to adapt. Many businesses have had to adjust their current IP protection policies and implement new technologies and practices in order to keep trade secrets safe when being used by home-based employees.

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