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Damvakeraki, T., Ferreira da Silva, C., Miranda, S. G., Revolidis, I., Szego, D. & Rixhon, P. (2024). Intellectual Property Management. Intellectual Property Management - EU Blockchain Observatory and Forum.

T. Damvakeraki et al.,  "Intellectual Property Management", in Intellectual Property Management - EU Blockchain Observatory and Forum, 2024

@null{damvakeraki2024_1732209178921,
	year = "2024",
	url = "https://blockchain-observatory.ec.europa.eu/publications/intellectual-property-management_en"
}

TY  - GEN
TI  - Intellectual Property Management
T2  - Intellectual Property Management - EU Blockchain Observatory and Forum
AU  - Damvakeraki, T.
AU  - Ferreira da Silva, C.
AU  - Miranda, S. G.
AU  - Revolidis, I.
AU  - Szego, D.
AU  - Rixhon, P.
PY  - 2024
UR  - https://blockchain-observatory.ec.europa.eu/publications/intellectual-property-management_en
AB  - Intellectual property (IP) encompasses the legal rights arising from creative endeavours in industrial,
scientific, literary, and artistic domains. Traditionally, it is categorised into two branches: industrial property
and copyright. Intellectual property management is an intriguing subject to review.
This report presents requirements from different stakeholder perspectives (artists, musicians, researchers,
etc.). The ways to manage differ from use case to use case, with or without smart contracts and NFTs.
There are legislations to comply with and digitisation aspects to consider. 
At a time when digital innovation is at the forefront of policy discussions, the management and protection of
intellectual property (IP) has become a critical challenge for creators, businesses, and legal entities alike. This
report by the EU Blockchain Observatory and Forum looks at the transformative potential of blockchain
technology in revolutionising IP management. The technology promises to solve long-standing problems, such
as proof of ownership, enforcement of rights, and distribution of royalties with efficiency and transparency.
Blockchain's decentralisation, immutability, and transparency provide a robust framework for the secure and
accessible management of IP rights. By implementing smart contracts, blockchain facilitates automated
transactions, including the payment of royalties. This automation not only lowers costs but also minimises the
potential for disputes, creating a more efficient process for all parties involved.
Non-fungible tokens (NFTs) that use blockchain technology provide a unique mechanism for asserting
ownership and linking rights declarations to digital assets. The uniqueness and indivisibility of NFTs make
them an ideal tool for representing ownership of unique digital and real-world assets. In our report, we introduce
emerging standards, such as EIP-2981, which aim to standardise NFT royalties and demonstrate the industry's
efforts to create interoperable and fair compensation mechanisms for creators.
However, the integration of blockchain into IP management faces challenges. In this report, we identify and
present key hurdles, such as the need for comprehensive legal frameworks that recognise and enforce
blockchain transactions, the standardisation of different blockchain platforms to ensure interoperability, and
the technical scalability required for widespread adoption.
Despite these challenges, the report is optimistic about the future of blockchain in IP management. It calls for
a collaborative approach between policymakers, technologists, IP owners, and IP users to create an
environment conducive to innovation while protecting creators’ rights. The development of supportive
regulatory frameworks, together with advances in blockchain technology will be crucial to realising the full
potential of blockchain for the management of intellectual property.
In conclusion, the report highlights the significant opportunities that blockchain offers for improving the
efficiency, transparency, and fairness of IP management. It encourages continued research, development, and
cross-sector dialogue to overcome the existing challenges and fully exploit the benefits of these technologies.
ER  -