Smart contracts in international trade in services in the field of intellectual property
A.R. Mukhtarova, N.I. Lesnova
Available Online December 2019.
- https://doi.org/10.2991/iscde-19.2019.100How to use a DOI?
- smart contract, blockchain, international trade in services, intellectual property, license agreement, patent, trademark
- The paper studies how to use a smart contract, including for the coordination and fulfillment of international contractual obligations for trade in services in the field of intellectual property. Attention is drawn to the special nature of smart contracts as self-enforceability and self-sustainability. As a result, their use for commercial purposes provides the contract parties with significant advantages, such as: reduction of costs for maintenance and enforcement, reduces the number of persons involved in the implementation of the obligation, diminishes the volume of documents under the contract, and eliminates bureaucracy. When developing smart contracts, a number of conditions should be taken into account: the actual semantics of the platform on which the contract will be placed; writing a secure smart contract code before placing a contract on the network, since it is the smart contract code that identifies its vulnerabilities. It is noted that the problem of interaction between lawyers and developers of the contract program code can be solved by using the code to formulate, verify, and enforce the agreement between the parties. In cross-border trade in services in the field of intellectual property, a smart contract can solve a number of important tasks: reduce the time for execution of the contract by the parties, ensure the protection of intellectual property, and reduce the costs of enforcement.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - A.R. Mukhtarova AU - N.I. Lesnova PY - 2019/12 DA - 2019/12 TI - Smart contracts in international trade in services in the field of intellectual property BT - Proceedings of the International Scientific and Practical Conference on Digital Economy (ISCDE 2019) PB - Atlantis Press SP - 240 EP - 243 SN - 2352-5428 UR - https://doi.org/10.2991/iscde-19.2019.100 DO - https://doi.org/10.2991/iscde-19.2019.100 ID - Mukhtarova2019/12 ER -