Warner Norcross + Judd LLP partner Brian Wassom has written an article published in the Grand Rapids Business Journal titled “NFT purchase doesn’t bring automatic copyright ownership,” on non-fungible tokens and the intellectual property risks associated with purchasing these digital assets.
NFTs are pieces of software recorded on a blockchain or virtual ledger giving someone a digital proof of purchase. Uniquely identifiable assets, NFTs can be created by anyone and can be sold or traded online.
People often incorrectly view NFTs as equivalent to a piece of digital art or other item in which it is associated. However, buyers can face copyright infringement issues due to mistakenly thinking they own the copyright to the image they purchased in the digital marketplace.
He touches on both copyright and trademark infringement tips for buyers to be mindful of when searching for NFTs to purchase.
GRBJ subscribers can read the article here.
Wassom also created a video on this topic titled “Intellectual Property Infringement in the NFT Space” for Warner’s The Cutting Edge: Emerging Media and Technologies Industry Update vlog. View the video here.
Wassom is a futurist at heart who tracks legal issues arising from a wide range of cutting-edge technologies. He is chair of Warner’s Emerging Media and Technology Group and has developed a particular focus on matters of creative expression, First Amendment rights, commercial identity and privacy, which spans the legal doctrines of copyright, trademark, privacy, publicity rights, advertising, journalism and related fields. Learn more about his practice here.
By providing discerning and proactive legal advice, Warner Norcross + Judd LLP builds a better partnership with our clients. An AmLaw 200 firm, we’re one of Michigan’s largest law firms focused on providing the best legal solutions and exceptional client service to organizations throughout the world. Connect with us on wnj.com, LinkedIn, Twitter or Facebook.
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