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Adding NFTs to an IP Portfolio: Risks and Rewards, Key Considerations

Navigating Ownership, Enforcement, Contract Language, Likelihood of Confusion, Revenue Potential

Recording of a 90-minute premium CLE video webinar with Q&A

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Conducted on Tuesday, September 27, 2022

Recorded event now available

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This CLE webinar will guide IP counsel on the risks and rewards of adding non-fungible tokens (NFTs) to an IP portfolio. The panel will address ownership, enforcement, First Amendment, and fair use defenses. The panel will discuss decentralized autonomous organizations (DAOs) and the associated contracts. The panel will address the drafting of assignments and contracts to ensure the negotiated and expected rights are secured despite developing and unanticipated media, as well as set out what happens in the event the underlying blockchain ceases to exist.

Description

Sales of NFTs in 2021 were over $14 billion. NFTs have presented opportunities for IP owners. Artists, athletes, brands, and companies are creating NFTs as another way to monetize their IP. However, NFTs have also resulted in potential problems and a growing number of lawsuits.

The lack of legal framework in the NFT marketplace has resulted in recent IP disputes. IP owners have seen their works being sold without consent and used in impermissible ways. In these cases, the courts address ownership, contract drafting, trademark registration considerations, fair use, and First Amendment rights.

As more and more individuals and brands are jumping into the NFT game, counsel must understand the opportunities presented and the pitfalls associated with bringing NFTs into the IP portfolio.

Listen as our panel examines the risks and rewards of adding NFTs to an IP portfolio. The panel will address ownership, enforcement, First Amendment, and fair use defenses. The panel will discuss DAOs and the associated contracts. The panel will address the drafting of assignments and contracts to ensure the negotiated and expected rights are secured despite developing and unanticipated media, as well as set out what happens in the event the underlying blockchain ceases to exist.

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Outline

  1. Value of NFTs and potential revenue
  2. Recent litigation
    1. Trademark cases
    2. Patent cases
  3. Key considerations
    1. Ownership
    2. Enforcement
    3. Fair use defense
    4. Likelihood of confusion
    5. First Amendment rights
  4. Best practices for assignment and contract drafting

Benefits

The panel will review these and other key issues:

  • What are the risks and rewards associated with NFTs?
  • What drives and dictates the value of NFTs?
  • What key factors should be considered when adding NFTs to IP portfolios?

Faculty

Naydonov, Anna
Anna B. Naydonov
Partner
Finnegan Henderson Farabow Garrett & Dunner

Ms. Naydonov focuses on trademark and false advertising litigation. She routinely litigates high-stakes cases for some...  |  Read More

Thayer, Linda
Linda J. Thayer
Partner
Finnegan Henderson Farabow Garrett & Dunner

Ms. Thayer focuses her practice on patent litigation and administrative trial procedures to request review of the...  |  Read More

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