Intellectual Property (IP) and NFTs
Back in 2018 we launched our startup SIP Management with a simple idea in mind; to make efficient intellectual property protection and management accessible and affordable to all by leveraging the power of marketplace networks and blockchain technology.
However we quickly ran into a few essential problems that derailed previous intent to make the IP protection process more accessible.
- Lack of awareness on IP matters
- Perceived complexity of the registration process by most SMEs, which although very innovative often didn’t have an IP expertise in house.
- Service fragmentation; when it comes to Intellectual property management, an individual or business needs to gain access to different expertise and services; that are mostly scattered across multiple service providers.
We first started by raising awareness through social media, with easy to digest information on the importance of intellectual property rights, and intellectual property assets.
Our latest campaign, the IP & NFT pilot project aimed to showcase to artists and creative businesses how modern IP exploitation strategies can enhance revenue streams while creating more value.
With the advancement of blockchain technology; cost effective IP management is now at the reach of any artist, small or micro business.
Why intellectual property (IP)
Intellelctual property (IP ) is quickly becoming the most valuable asset class on the planet. The latest figure from the World intellectual Property organisation (WIPO) estimates that over 80% of companies value is associated with their intangible assets; while in countries such as the UK intangibles asset investment currently outpace tangible assets. Hence effectively managing IP assets should be a top priority for any business and in particular for those that heavily rely on IP assets as means of producing value.
Intellectual Property (IP)refers to the creation of the mind. In simple words, any product that is created by humans, whether digital or physical, falls under the category of Intellectual property. The most common types of intellectual property are Trade Secrets, Trademarks, Copyrights and Patents.
Blockchain Technology and the management of intellectual property (IP)
Early on our journey we quickly recognised the advantage of blockchain technology as a tool for the effective management of intellectual property(IP).
Blockchain timestamping; the most innovative copyright registration process. Fast, secure and cost effective. Blockchain timestamp enables any individual or business to quickly protect and register any IP they created. This could be any type of format( written documents, audios, videos, images, computer code…).
NFTs stand for non-fungible tokens; ethereum smart contracts that simplify the transfer and tracking of digital assets and therefore facilitate better monetisation processes. From rights transfer to royalties management, NFTs put new IP management capabilities at the hands of the masses.
IP & NFTs “Art by Leslie Lumeh”
A pilot project featuring Leslie Lumeh; Liberia’s most renowned visual artist.A collection of four unique 1 to 1 NFTs and a line of merchandise inspired by Leslie Lumeh original art.
What makes this pilot project and these NFTs unique ?
These NFTs unlockable features entitle their owner to a share of all the merchandise sales under the Art by Leslie Lumeh collection. The proceeds from this pilot project will also go toward establishing an art gallery and supporting a free art school for children in Monrovia, the capital of Liberia.
The art by Leslie Lumeh NFTs, aimed to provide long term value to their owners while contributing to fund non profit and social work in Liberia. A new era for NFT collectors and buyers.
The SIP Management platform
Our platform goal is to simplify access to effective IP management tools and services to all. Hence we provide a suite of features and services that help any individual artist or business owner to handle adequately and affordably their intellectual property (IP) rights registration, defense and monetisation processes.
To learn more about ou platform, community and work; check out our website: www.sipmanagement.co.uk.
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