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ARTICLE · 09 NOVEMBER 2021

Will NFTs Revolutionize Patent Law?

Sunstein
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NFTs continue to make waves, even as there is much speculation about their long-term future. As we have previously written, non-fungible tokens...

United StatesIntellectual Property
Lisa M. Tittemore
Lisa M. Tittemore
Jacqueline Salwa
Jacqueline Salwa

NFTs continue to make waves, even as there is much speculation about their long-term future. As we have previously written, non-fungible tokens, or NFTs, present novel challenges and opportunities for intellectual property holders. This article explains how NFTs have been creating new challenges and opportunities specifically in the patent space.

NFTs as tools for transfer of patent assets. NFTs can be used to transfer ownership of patents. The blockchain can be used to create records of patent owners, and the tokens can have self-executing contracts built into them that transfer the legal rights associated with patents upon transfer of the tokens. The use of NFTs to secure patent ownership has been spearheaded by a partnership between IBM and IPwe. (IPwe describes itself as offering a platform for a global patent market.) The companies have partnered to create the infrastructure for a marketplace to buy and sell patents using NFTs. This marketplace is not limited

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