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[32] [33] With help of blockchain, tokenization is the process of converting the value of a tangible or intangible asset into a token that can be exchanged on the network. This enables the tokenization of conventional financial assets, for instance, by transforming rights into a digital token backed by the asset itself using blockchain ...
Intellectual property valuation is a process to determine the monetary value of intellectual property assets. IP valuation is required to be able to sell, license, or enter into commercial arrangements based on IP. It is also beneficial in the enforcement of IP rights, for internal management of IP assets, and for various financial processes.
Illustration of a non-fungible token generated by a smart contract (a program designed to automatically execute contract terms) A non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity.
The ERC-721 Non-fungible Token Standard is a technical framework, defining a set of rules and interfaces for creating and managing unique, non-fungible tokens (NFTs) on the Ethereum blockchain. [ 1 ] [ 2 ] [ 3 ] ERC-721 is recognized for formalizing the concept of an NFT and establishing the foundation of the multi-billion dollar digital ...
Unlike physical assets such as machinery or real estate, intangible assets lack a physical presence. They include things like brand recognition, customer loyalty, patents, copyrights and business ...
Tokens are created to encourage the holder to interact and empower the product by automatically distributing the rewards to their stakeholders. [3] Projects may use tokens to raise funds from the public and for proof of internal operation (e.g. game tokens and governance tokens for the right to vote).
Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. [1] [2] There are many types of intellectual property, and some countries recognize more than others. [3] [4] [5] The best-known types are patents, copyrights, trademarks, and trade secrets.
In the context of research and development (R&D) collaborations, background, foreground, sideground and postground intellectual property (IP) are four distinct forms of intellectual property assets. These are included in the broader and more general categories of knowledge in R&D collaborations or open innovation. While background and ...