Blockchain and IPR
Written by Michael Coyle on 05 December 2017« Return to Reading Room
So the technology is secure, it can't be hacked and so provides a chain of information which will generate interest in all technologies and will permeate all aspects of our lives. So as IP lawyers we have been giving some thought as to how in theory Blockchain could be adopted and how can we use Blockchain to protect your intellectual property rights.
Lets say take a look at Lawdit's protectyourdesign.com - we could use Blockchain technology to provide an accurate record keeping, irreversible, secure, and time-stamped record when you upload your design and IP is created. It can create an accurate first use of commerce in trade and will be an uncontestable record of when that design was first registered. It can establish an accurate and detailed note of any sale of designs and trade marks by way of introducing a check on fake or counterfeit goods. It will be able to detect and find stolen goods and identify “grey” or parallel imported goods. IP owners will be able to protect and identify their brands using the Blockchain technology. What about Lawditmusic.co.uk? Blockchain technology could be used to encode music and could be used to define how artists are paid.
Many people are confused and sceptical and think Bitcoin and the technology behind it is dark and is associated with the criminal underworld. Governments can't cope and some have banned the coin but smart contracts and the technology is here to stay as the number of patents filed for the technology in the past 5 years or so.
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