On-Chain Licensing refers to the practice of recording and managing intellectual property licenses directly on a blockchain, utilizing smart contracts to define and enforce usage rights and royalty distributions. This method provides an immutable and transparent record of license terms, automating compliance and facilitating direct payments between licensors and licensees. It reduces administrative overhead. This innovation enhances trust and efficiency.
Context
On-chain licensing offers advantages in terms of transparency, automation, and global reach for intellectual property management, particularly for digital content. However, legal frameworks are still adapting to fully accommodate the enforceability and specifics of blockchain-based agreements. The integration of traditional legal concepts with blockchain technology remains an ongoing discussion.
This DLT implementation for intellectual property tokenization provides immediate capital efficiency by replacing fragmented, opaque royalty processes with transparent, real-time smart contract execution.
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