Ways Blockchain Revolutionizes Intellectual Property Management

CIO Applications| Tuesday, June 15, 2021

Once a company registers a blockchain file, the registration date and time are saved indefinitely. The data can never be destroyed or tampered with, and it can be immediately verified by a third party.

FREMONT, CA: For innovators or entrepreneurs looking to protect their intellectual property and innovations against counterfeiting, blockchain offers several unique alternatives. In addition, intellectual property law and blockchain technology are linked in many other industries.

To begin with, blockchain advances to aid in the development of more convincing legal defenses. The method provides verifiable digital proof of concept ownership. Once a company registers a blockchain file, the registration date and time are saved indefinitely. The data can never be destroyed or tampered with, and it can be immediately verified by a third party.

Secondly, the blockchain simplifies the formation of IP-focused partnerships. As a result of the distributed ledger's smart contracts, fractional ownership is possible. It also enables round-the-clock access to the device, improved data flexibility, and frictionless ownership transfer.

[vendor_logo_first]Finally, the Blockchain platform's smart contracts enable owners to create digital agreements to share income from IP assets proportionally to their partial ownership of those assets, removing the need for long-term financial lock-ups and trusted intermediaries on both sides of the transaction.

Here's how DEIP has utilized the benefits of blockchain technology for intellectual property security in real-world scenarios.

Secure collaboration

Blockchain enables transparent networks and proof records to exchange IP assets, allowing partners, investors, and employees to communicate securely while transferring sensitive data, documents, and information.

Extensive IP safety matters

Legal issues alone may not be sufficient to preserve intellectual property. Additional administrative and technical concerns are required to ensure that intellectual property is secured.

Progressive protection

Even the most nebulous arguments leave no room for debate when blockchain is used to assist innovators in compiling proof around core IP.

The DEIP IP Ledger is part of the DEIP product ecosystem, run by the DEIP Open Innovation Network. DEIP consists of products built around IP assets that enable total value extraction:

Monetize IP.

Develop partnerships.

Collaborate using automated contracts to find subject matter experts to assist ventures.

Perform impartial screening and analysis of innovation for agile decision-making and funding.