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IPwe and IBM Partner to Transform Corporate Patents With NFTs
IPwe plans to begin representing patents as non-fungible tokens (NFTs) or digital assets by working with IBM (NYSE: IBM).
The partnership aims to create the infrastructure for representing patents as NFTs and storing the records on a blockchain network. The tokenization of intellectual property (IP) will help position patents to be more easily sold, traded, commercialized or otherwise monetized and bring new liquidity to this asset class for investors and innovators.
By representing IP in this way, it can be licensed, sold and commercialized. Organizations can also more easily view the IP as an asset on their balance sheet. While NFTs have been used to represent digital art, sports memorabilia and iconic Tweets, among others, the early adoption of IP-based NFTs could drive the transformation of how IP is treated by inventors and enterprises.
IPwe and IBM Seek to Transform Corporate Patents With Next Generation NFTs Using IBM Blockchain
An ecosystem to tokenize patents can allow intellectual property to be treated as business assets, making patents easier to license, sell and commercialize
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PARIS and ARMONK, N.Y., April 20, 2021 /PRNewswire/
IPwe today announced plans to begin representing patents as non-fungible tokens (NFTs) or digital assets by working with IBM (NYSE:
IBM) to create the infrastructure for representing patents as NFTs and storing the records on a blockchain network. The tokenization of intellectual property (IP) will help position patents to be more easily sold, traded, commercialized or otherwise monetized and bring new liquidity to this asset class for investors and innovators.
Pakistani authorities make arrests in case involving low-cost trademark agencies
200+ fraud sites involved in “biggest money laundering case in history of Pakistan”
Legal case claims fabricated USPTO trademark certificates were part of the scam
US trademark applicants appear to be victims of what has been described as “the biggest money laundering case in the history of Pakistan”. The case involves Karachi-based Digitonics Lab, which has allegedly been operating over 200 fraudulent websites. This includes a number of low-cost trademark filing offerings, with authorities estimating that three-quarters of applicants using the sites have received fake USPTO trademark certificates.
Earlier this month, the Pakistan government’s Federal Investigation Agency (FIA) published a preliminary report detailing a huge fraud and money laundering investigation involving Digitonics Lab. The report followed the arrest of nine people, including Digitonics Lab CEO Muhammad Burhan Mirza, a