PLAY RECORDING

Broadcast Date: Tuesday, May 24, 2022
from 12:00 pm to 2:00 pm (ET)

Overview:

The recent surge of non-fungible tokens (NFTs)—in number, value, and type—has become a clear sign of their high growth potential across all types of industries. By associating digital and physical goods with a unique identifier on a tamper-resistant blockchain, NFTs allow for unprecedented levels of security, authenticity, and digital provenance, while raising novel issues involving intellectual property, data privacy and identity management.

The continuous demand for NFTs breeds new forms of investment and revenue opportunities, and many businesses of all stripes are rapidly entering the NFT space.  As with any emerging technology, however, there are numerous legal and practical issues to consider, and the potential for a great reward is balanced by the risk of great loss. Understanding the potential risks of NFTs before investing is critical.

In a LIVE Webcast, a panel of thought leaders and practitioners assembled by The Knowledge Group will discuss the recent trends and significant challenges surrounding NFTs and the associated legal landscape, including helpful insights to avoid potential risks.

Some of the major topics that will be covered in this course are:

  • Overview of Non-Fungible Tokens (NFTs)
  • Opportunities and Potentials
  • Legal Risks and Implications
  • Best Practices in Operating in the NFT Marketplace
  • Practical Tips to Avoid Pitfalls
  • What the Future Holds for NFTs

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast (CLE)

 

Pre-requisite:

General knowledge of non-fungible tokens (NFTs)

 

Course Code:

149735

 

NY Category of CLE:

Areas of Professional Practice

 

Total Credit:

2.0 CLE

Speaker Panel:

Michael A. Tomasulo , Partner
Winston & Strawn LLP

Mike Tomasulo is a partner in Winston & Strawn’s Los Angeles office. He is the co-leader of the firm’s multidisciplinary Videogame, Gaming & Esports Group and a member of the Blockchain, Cryptocurrency & NFTs Group and has represented leading companies in the videogame, cloud computing, and social media industries. Mike is also very active in the emerging world of blockchain, NFTs, Web3, and DAOs. He is knowledgeable in the intellectual property implications of Non-Fungible Tokens (NFTs) and smart contracts transactions, and counsels companies involved with blockchain technology in finding business-focused solutions. He has written numerous articles on these topics and is currently doing consulting and transactional work for companies in this sector including counseling an NFT marketplace in its 2022 launch.

Robert N. Potter, Partner
Kilpatrick Townsend & Stockton LLP

Rob Potter delivers practical and efficient solutions to complicated issues in trademark/copyright litigation and brand enforcement. He has also become increasingly active in the NFT space, providing guidance and counseling on emerging best practices, and frequently speaking and writing on the topic.

Sarah Anderson, Associate
Kilpatrick Townsend & Stockton LLP

Sarah Anderson focuses her practice on domestic and international trademark counseling, portfolio management, registry disputes, and online and offline enforcement programs. She regularly counsels some of the most iconic global brands across various industries, including retail, e-commerce, fashion, entertainment, and technology.

Malgorzata (Gosia) A. Kulczycka, Ph.D., J.D., Partner
Hickman Becker Bingham Ledesma LLP

Dr. Kulczycka’s practice emphasizes client counseling and strategic patent prosecution with special expertise in computer networks, artificial intelligence, machine learning, Internet-related technologies, computer software, telecommunications, computer graphics, and electronics. Her computer network experience and software experience include virtual machine technologies, communications servers and routers, load balancing, high availability network mechanisms, VPN, dynamic DNS-based security systems, real-time distributed data compliance brokers, cloud-based storage systems, data encryption mechanisms, data stream classifications, traffic multiplexing, link aggregation, VoIP, wireless communications, and data communications protocols. Her other experience includes databases, Web-based searches, XML document processing, digital image processing, data content distribution, and implementations of computerized methods for service providers. Her clients include individuals, startups, mid-sized businesses, and large corporations.

Dr. Kulczycka was previously a computer graphics project manager and a software design engineer at General Motors Corporation. She designed, developed, and programmed many components of computer networks and developed software applications in the areas of computer system integration, virtual reality, real time simulation, 3D projection, and computer graphics animation.

Agenda:

Michael A. Tomasulo , Partner

Winston & Strawn LLP

a. Introduction to NFT & Problem Solving with NFT Clients

i. Discussion of NFT, blockchain, smart contract use cases

1. Blockchain 101

2. Who is using them and why

3. Authenticity / Exclusivity / Instant Transferability

ii. Examples

b. Approach to problem solving

i. Takes a village -- Practical/Legal Concerns re NFTs touch on many areas of practice, e.g.

1. Communicating rights clearly, including to secondary purchasers

2.Potential Securities Risks

3. Enforcement against decentralized domains/websites

4. KYC/AML/Privacy laws

5. Revising existing contracts to expressly include NFTs

6. Environmental concerns?  (POW v. POS)

7. “Broken link” / IPFS / Servers

ii. IP Issues

Robert N. Potter, Partner

Kilpatrick Townsend & Stockton LLP

1. Legal instruments for conducting NFT-based transactions

a. Smart contract

i. Resale royalties

ii. Jx issues / Enforceable as actual contracts?

b. Terms and Conditions

c. License Agreements

d. Vendor Agreements

i. (including privacy issues, KYC/AML laws, etc)

2. NFTs and IP

a. Copyright and TM issues related to NFTs

i. TM Registration – Necessary for enforcement?

ii. Resale Royalties - Tension with first-sale doctrine

iii. Licensing generally

 

Sarah Anderson, Associate

Kilpatrick Townsend & Stockton LLP

1. Existing Litigation re NFTS

a. Miramax / Tarantino

b. Nike v. StockX

c. Hermes v. Rothschild

2. Practical/Legal Concerns re NFTs

a. Communicating rights clearly, including to secondary purchasers

b. Enforcement against decentralized domains / websites

c. Potential Securities Risks?

d. KYC/AML/Privacy laws

e. Revising existing contracts to expressly include NFTs

f. “Broken link” / IPFS / Servers

g. Environmental concerns? (POW v. POS)

Malgorzata (Gosia) A. Kulczycka, Ph.D., J.D., Partner

Hickman Becker Bingham Ledesma LLP

Talking Points:

1. Legal instruments for conducting NFT-based transactions

a. Smart contract

i.  Types/purposes

ii. Examples

2. NFTs and IP

a. Potentials and perils of securing NFT’s patent rights

b. Example patents related to NFTs

c. NFTs and celebrities

d. Issues with the AMC NFTs

Date & Time:

Tuesday, May 24, 2022

12:00 pm to 2:00 pm (ET)

Materials:

Download Course Materials

Who Should Attend:

  • Patent Lawyers & Consultants
  • Intellectual Property Lawyers & Consultants
  • Privacy & Data Privacy Lawyers
  • Patent Agents
  • Patent Managers
  • Investment Managers
  • Investment Directors
  • Wealth Managers

SPEAKERS

Michael A. Tomasulo Partner
Winston & Strawn LLP
Robert N. PotterPartner
Kilpatrick Townsend & Stockton LLP
Sarah AndersonAssociate
Kilpatrick Townsend & Stockton LLP
Malgorzata (Gosia) A. Kulczycka, Ph.D., J.D.Partner
Hickman Becker Bingham Ledesma LLP

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