Get to know Intellectual Property (IP) and its correlation in the Crypto World

Everything that is created has protection so that it is not used freely by other people. This protection is called Intellectual Property (IP) Rights. This protection will help creators retain their rights because their work is used commercially.

Did you know that Intellectual Property (IP) Rights also apply in the crypto world? Read the complete explanation below.

What is Intellectual Property (IP)?

Intellectual Property Rights or Indonesian Intellectual Property Rights (HKI) refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in trade. IPR aims to protect the rights of creators or owners and encourage innovation and creativity by providing exclusive rights to use their work.

Explanation of Intellectual Property Rights

Intellectual Property Rights are legal protection efforts for the original creator. That way, when the work they create is used by others, they will receive compensation for the commercial use of their creation.

Included in intellectual property rights are:

• Copyright (literary, dramatic, musical, and artistic works)
• Patents (new machines or products)
• Trademarks (business names, logos, and slogans)
• Trade secrets (methods and processes)
• Domain name (like Instagram.com)

Intellectual Property (IP) in the Crypto World

As for the correlation with Bitcoin , this decentralized digital currency operates on a technology called blockchain. Blockchain is a distributed ledger that records all transactions across a computer network. In the context of intellectual property, blockchain technology can be used to establish ownership and authenticity of digital assets, including creative works and inventions.

For example, artists can use blockchain to time stamp and confirm the authenticity of their digital art, ensuring that they are recognized as the true creator and have control over the distribution and use of their work. Likewise, blockchain can be applied to protect other forms of intellectual property, such as patents and trademarks, by providing a transparent and unmanipulated record of ownership and transactions.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.