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Early Registration Helps With Enforcement Creators of original content for NFTs (and other blockchain use cases) should seek legal advice regarding which aspects of your creations you can register with the United States and Trademark Office or with the Copyright Office. While registration of rights, for example, in trademarks, trade dress, and copyrights are not necessary to obtain IP protection for your creations, securing a registration provides significant (and cost saving) legal and practical benefits to enforcing your intellectual property rights against infringers, either though take-down notices, cease and desist letters, or if necessary, through the courts. In some cases, the benefits can include being entitled to attorneys’ fees and/or additional forms of damages against infringers. Policing of Infringement Another important IP consideration for both NFT creators and IP owners is to develop a policing strategy to catch any infringement early. Timing is of the essence. Due to the immutable nature of blockchain transactions, combined with the pseudo anonymous nature of NFT ownership, it can be difficult to enforce IP rights against a buyer once an NFT is sold. Typically, an NFT is associated with a digital wallet address, but the identity of the wallet owner may be difficult to discern without sophisticated computer forensics. The time to enforce your IP rights is when it a token using your IP is listed on an exchange, but before it is sold. It is prudent for content owners to set up a watch service to identify unauthorized uses of your content. Legal counsel who specializes in intellectual property and understands the space can help you monitor (and stop) unauthorized use of your intellectual property through services that are provided to law firms at discounted rates. If your content is subject to copyright, aggressive (but proper) use of DMCA take down notices may prevent a sale of the NFT in the first place. However, be mindful that improper DMCA take down notices can subject you to liability, so consult with counsel first. The ideas above are only a few of the things to consider as more creators and brands inevitably jump into the NFT game and use NFTs in their own marketing and advertising campaigns. Many other new uses of NFTs will likely be envisioned and with that will come other legal considerations. Sheppard Mullin’s Blockchain Team includes intellectual property lawyers who focus on helping NFT creators and IP owners protect their intellectual property, avoid claims of infringement and enforce rights when infringement is found. To further assist those dealing in NFTs, Sheppard Mullin has offered free webinars on NFTs and Entertainment. We covered NFTs and games on February 4. A link to that webinar is here. On March 10 we covered, NFTs and digital art (a day before Christie’s fetched a whopping $69 million for Beeple’s iconic piece of digital art). That webinar can be found here. For an overview of some of other legal issues in these areas, see our articles on art, games and collectibles. Sign up here for our Law of the Ledger blog to automatically receive updates on these issues. Questions? Contact: James Gatto Partner 202.747.1945 jgatto@sheppardmullin.com Laura Chapman Partner 415.774.3215 lchapman@sheppardmullin.com Yasamin Parsafar Associate 415.774.2927 yparsafar@sheppardmullin.com Page 3 www.sheppardmullin.comPDF Image | NFTs and Intellectual Property
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NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
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