An entrepreneur has acquired legal rights in the form of NFT-license for 1 ETH (At
the time of purchase, it was about $1,400) to use a trademark on his products.
This October, an owner of the wallet
“0x26D03C07268cfdbbf7bc8e57194867D7c760F259” bought an NFT-license and
automatically signed a License Agreement to use a trademark on the products he
manufactures.
Traditionally, to use intellectual property (trademark), one needs to sign a license
agreement, which might take weeks, but with blockchain, it takes 15 minutes.
Smart Contracts allow one to acquire Intellectual Property and obtain entirely
legitimate rights in a matter of minutes.
Tokenization Factory is a tech startup bridging Intellectual Property and Blockchain.
IP tokenization allows a radical decrease in the effort needed to acquire rights from
weeks to minutes. Moreover, this opens IP to small businesses and individual
entrepreneurs.
“My vision is that hundreds of thousands of small entrepreneurs
are included in the IP market as they don’t need weeks to buy IP
rights. IP infringement is rare even in developing countries
because buying IP rights is easy and instant”
Victor Bondarenko, CEO TokenizationFactory.com
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