How Blockchain is Transforming Intellectual Property Management
Blockchain offers opportunities for entrepreneurs to shield the IP and inventions from counterfeiting.
FREMONT, CA: Blockchain provides several unique opportunities for innovators or entrepreneurs willing to shield their IP and inventions from counterfeiting. In addition, there are several more fields where intellectual property law and blockchain technology are intertwined.
Firstly, blockchain innovations help to create a more convincing court defense. The technique offers reliable digital proof of the ownership of the concept. The registration date and time are registered and permanently once companies register a blockchain file. The information can never be deleted or tampered with and quickly confirmed by any independent third party.
Second, the blockchain streamlines the creation of partnerships focused on IP assets. Therefore, due to the smart contracts on the distributed ledger, it provides fractional ownership. In addition, it allows the device to be accessed around the clock, offers better data flexibility and frictionless ownership transfer.
Thirdly, the smart contracts provided on the Blockchain platform allow owners to build digital agreements to share income from IP assets proportionally to the partial ownership of those assets, eliminating the long-term lock-up of cash they need for intermediaries trusted on both sides of the transaction.
Here is how DEIP has been operating with the advantages of using blockchain for intellectual property security in real-life use cases.
Blockchain helps innovators collect evidence around core IP that even the narrowest arguments leave no margin of doubt.
Blockchain creates transparent networks and proof records for the exchange of the IP assets, providing secure communication with partners, investors, and employees while exchanging sensitive information, data, and documents.
Extensive IP safety matters
In order to protect the intellectual property, legal matters alone may not suffice. In order to ensure that the intellectual property is protected, additional administrative and technical issues are necessary.
DEIP IP Ledger is a part of the DEIP Open Innovation Network's DEIP product ecosystem. DEIP includes products developed around IP assets that enable full value to be extracted: monetize IP, develop partnerships, and collaborate using automated contracts to find subject matter experts to help the ventures, perform impartial screening and analysis of innovation for agile decision-making and funding.