Blockchain technology is extremely interesting for specific processes in Intellectual Property management and one of the hottest topics of the moment. With several exciting features, such as peer to peer transactions, chronological recording of transactions and decentralization, blockchain provides new options in this area, especially for record keeping of unregistered IPRs.
In a new episode of the Advancements series, Dr. Richard Brunner, Chief Legal Officer at the Dennemeyer Group, explains why protecting IP is of the utmost importance for innovators and how this technology works to their benefit. An expert on this topic, Dr. Richard Brunner was invited to lecture at several international conferences and hosted a webinar for Dennemeyer last year.
Dr. Richard Brunner states: "Blockchain, or more broadly, the distributed ledger technology, offers a variety of promising applications for the legal industry, particularly in the field of Intellectual Property management. The fact that there is no central office needed and no centralized data storage, allows, for example, the registration of time-critical innovations timely, at low cost, and safe from manipulation."
Usually, obtaining patent protection requires extensive research of prior art and existing patents, but for unregistered IP the problem consists in proving authorship. This is where blockchain registries like Vaultitude spring into action. Designed with the aim of using distributed ledger technology, they make protecting IP cheaper, faster and more secure.
Dr. Dominik Thor, CEO & Founder of Vaultitude, says: “Vaultitude, through blockchain technology, has the potential to change the way we protect new ideas and thus directly addresses the needs of innovators, scientists and companies. We are grateful to have the support of leading stakeholders in the IP industry and very excited to be part of this series". The startup has partnerships with leading stakeholders in the field of Intellectual Property, such as WIPO Green, a division of the World Intellectual Property Organization WIPO, an agency of the United Nations, and the Dennemeyer Group, one of the world’s leading IP law firms.
"Our latest industry study, the IP Trend Monitor, shows that Intellectual Property experts from all over the world and from all areas of IP management, consider this one of the game changers for the IP industry in the next years," adds Dr. Brunner.
Download the first IP Trend Monitor study to find out what IP experts think about blockchain and how they expect it to change the industry. Professionals from all areas of IP management and all countries are invited to register for IP Trend Monitor’s future studies here.
The authors contribute to this blog in their personal capacity. The views expressed are their own and do not necessarily represent the views of Dennemeyer IP Solutions, Dennemeyer & Associates, or Dennemeyer Consulting.